Geode Capital Management LLC Increases Position in Primis Financial Corp. (NASDAQ:FRST)

Geode Capital Management LLC boosted its holdings in Primis Financial Corp. (NASDAQ:FRSTFree Report) by 2.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 466,212 shares of the company’s stock after purchasing an additional 10,656 shares during the period. Geode Capital Management LLC owned about 1.89% of Primis Financial worth $5,679,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of FRST. Fourthstone LLC boosted its stake in shares of Primis Financial by 271.5% during the 3rd quarter. Fourthstone LLC now owns 247,194 shares of the company’s stock valued at $3,011,000 after buying an additional 180,655 shares during the last quarter. Inspire Investing LLC acquired a new stake in Primis Financial in the third quarter valued at $828,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Primis Financial by 91.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 125,028 shares of the company’s stock valued at $1,523,000 after acquiring an additional 59,746 shares during the last quarter. Foundry Partners LLC grew its holdings in Primis Financial by 14.5% during the 3rd quarter. Foundry Partners LLC now owns 393,575 shares of the company’s stock worth $4,794,000 after acquiring an additional 49,735 shares in the last quarter. Finally, Acadian Asset Management LLC increased its position in shares of Primis Financial by 22.6% in the 2nd quarter. Acadian Asset Management LLC now owns 178,312 shares of the company’s stock worth $1,867,000 after purchasing an additional 32,896 shares during the last quarter. Institutional investors and hedge funds own 74.96% of the company’s stock.

Insider Activity at Primis Financial

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

Analyst Ratings Changes

Separately, Stephens cut their price objective on Primis Financial from $16.00 to $14.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th.

Read Our Latest Stock Report on Primis Financial

Primis Financial Stock Up 0.5 %

FRST stock opened at $11.49 on Friday. The firm has a market cap of $284.07 million, a price-to-earnings ratio of 10.64 and a beta of 0.78. Primis Financial Corp. has a 1-year low of $9.52 and a 1-year high of $13.69. The firm has a fifty day moving average price of $12.06 and a two-hundred day moving average price of $11.78. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.99 and a quick ratio of 0.98.

Primis Financial (NASDAQ:FRSTGet Free Report) last released its quarterly earnings data on Thursday, October 24th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.35). Primis Financial had a return on equity of 3.28% and a net margin of 6.00%. The business had revenue of $66.40 million for the quarter. During the same quarter last year, the business posted $0.32 EPS. Research analysts predict that Primis Financial Corp. will post 0.5 EPS for the current year.

Primis Financial Dividend Announcement

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

Primis Financial Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding FRST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Primis Financial Corp. (NASDAQ:FRSTFree Report).

Institutional Ownership by Quarter for Primis Financial (NASDAQ:FRST)

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