Primis Financial Corp. (NASDAQ:FRST) Stock Position Lowered by Jane Street Group LLC

Jane Street Group LLC lowered its position in shares of Primis Financial Corp. (NASDAQ:FRST) by 23.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,127 shares of the company’s stock after selling 5,337 shares during the quarter. Jane Street Group LLC owned 0.07% of Primis Financial worth $209,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its position in shares of Primis Financial by 2.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,104,475 shares of the company’s stock valued at $11,574,000 after purchasing an additional 23,653 shares in the last quarter. State Street Corp lifted its stake in Primis Financial by 2.6% during the third quarter. State Street Corp now owns 423,407 shares of the company’s stock valued at $5,157,000 after purchasing an additional 10,923 shares during the last quarter. Foundry Partners LLC boosted its holdings in Primis Financial by 14.5% during the third quarter. Foundry Partners LLC now owns 393,575 shares of the company’s stock worth $4,794,000 after buying an additional 49,735 shares in the last quarter. Renaissance Technologies LLC grew its position in Primis Financial by 3.8% in the second quarter. Renaissance Technologies LLC now owns 353,813 shares of the company’s stock worth $3,708,000 after buying an additional 12,900 shares during the last quarter. Finally, Fourthstone LLC increased its holdings in shares of Primis Financial by 271.5% in the third 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 in the last quarter. 74.96% of the stock is owned by institutional investors and hedge funds.

Primis Financial Price Performance

FRST stock opened at $10.59 on Monday. Primis Financial Corp. has a one year low of $9.52 and a one year high of $13.69. The firm has a 50-day moving average of $12.01 and a two-hundred day moving average of $11.84. The firm has a market capitalization of $261.82 million, a PE ratio of 9.81 and a beta of 0.79. The company has a current ratio of 0.99, a quick ratio of 0.98 and a debt-to-equity ratio of 0.24.

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

Primis Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were given a $0.10 dividend. The ex-dividend date was Friday, November 8th. This represents a $0.40 annualized dividend and a dividend yield of 3.78%. Primis Financial’s dividend payout ratio (DPR) is presently 37.04%.

Analyst Upgrades and Downgrades

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

Insider Activity

In other Primis Financial news, Director F L. Garrett III acquired 3,660 shares of the firm’s stock in a transaction 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 transaction, the director now owns 41,169 shares of the company’s stock, valued at $507,202.08. The trade was a 9.76 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 10.89% of the stock is currently owned by corporate insiders.

Primis Financial Company Profile

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.