Barclays PLC Increases Position in Primis Financial Corp. (NASDAQ:FRST)

Barclays PLC boosted its holdings in Primis Financial Corp. (NASDAQ:FRST) by 243.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 27,441 shares of the company’s stock after acquiring an additional 19,460 shares during the period. Barclays PLC owned 0.11% of Primis Financial worth $334,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Mackenzie Financial Corp purchased a new position in Primis Financial during the 2nd quarter valued at about $106,000. Northwestern Mutual Wealth Management Co. purchased a new position in Primis Financial during the 2nd quarter valued at about $144,000. AQR Capital Management LLC increased its holdings in Primis Financial by 55.1% during the 2nd quarter. AQR Capital Management LLC now owns 19,097 shares of the company’s stock valued at $200,000 after acquiring an additional 6,783 shares in the last quarter. De Lisle Partners LLP increased its holdings in Primis Financial by 109.5% during the 3rd quarter. De Lisle Partners LLP now owns 21,016 shares of the company’s stock valued at $256,000 after acquiring an additional 10,986 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Primis Financial by 4.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 59,324 shares of the company’s stock valued at $723,000 after acquiring an additional 2,708 shares in the last quarter. 74.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Primis Financial

In related news, Director F L. Garrett III bought 3,660 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was purchased at an average cost of $12.32 per share, for a total transaction of $45,091.20. Following the completion of the acquisition, the director now owns 41,169 shares in the company, valued at $507,202.08. This trade represents a 9.76 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 10.89% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Stephens dropped their target price on shares of Primis Financial from $16.00 to $14.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th.

Primis Financial Stock Performance

Shares of NASDAQ FRST opened at $11.49 on Friday. The company has a market cap of $284.07 million, a PE ratio of 10.64 and a beta of 0.78. Primis Financial Corp. has a 12 month low of $9.52 and a 12 month high of $13.69. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.99 and a quick ratio of 0.98. The company has a 50-day simple moving average of $12.06 and a 200-day simple moving average of $11.78.

Primis Financial (NASDAQ:FRST) last issued its quarterly earnings results on Thursday, October 24th. The company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.35). The firm had revenue of $66.40 million for the quarter. Primis Financial had a return on equity of 3.28% and a net margin of 6.00%. During the same period in the previous year, the business posted $0.32 EPS. On average, equities analysts anticipate that Primis Financial Corp. will post 0.5 earnings per share for the current year.

Primis Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were issued a dividend of $0.10 per share. The ex-dividend date was Friday, November 8th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.48%. Primis Financial’s dividend payout ratio (DPR) is presently 37.04%.

About Primis Financial

Primis Financial Corp. operates as the bank holding company for Primis Bank that provides a range of financial services to individuals and small and medium sized businesses in the United States. Its deposit products include checking, NOW, savings, and money market accounts, as well as certificates of deposits.