Victory Capital Management Inc. Increases Position in Primis Financial Corp. (NASDAQ:FRST)

Victory Capital Management Inc. grew its holdings in Primis Financial Corp. (NASDAQ:FRST) by 12.8% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 88,000 shares of the company’s stock after buying an additional 10,000 shares during the period. Victory Capital Management Inc. owned 0.36% of Primis Financial worth $1,026,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in FRST. Foundry Partners LLC raised 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 purchasing an additional 49,735 shares in the last quarter. Geode Capital Management LLC raised its holdings in Primis Financial by 2.3% during the third quarter. Geode Capital Management LLC now owns 466,212 shares of the company’s stock worth $5,679,000 after purchasing an additional 10,656 shares in the last quarter. Rhumbline Advisers raised its holdings in Primis Financial by 94.3% during the fourth quarter. Rhumbline Advisers now owns 70,869 shares of the company’s stock worth $826,000 after purchasing an additional 34,394 shares in the last quarter. Barclays PLC raised its holdings in Primis Financial by 243.8% during the third quarter. Barclays PLC now owns 27,441 shares of the company’s stock worth $334,000 after purchasing an additional 19,460 shares in the last quarter. Finally, State Street Corp raised its holdings in Primis Financial by 2.6% during the third quarter. State Street Corp now owns 423,407 shares of the company’s stock worth $5,157,000 after purchasing an additional 10,923 shares in the last quarter. 74.96% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Primis Financial

In related news, Director John Fitzgerald Biagas bought 10,000 shares of the company’s stock in a transaction on Wednesday, March 12th. The stock was bought at an average cost of $9.97 per share, with a total value of $99,700.00. Following the completion of the acquisition, the director now owns 88,469 shares in the company, valued at approximately $882,035.93. This represents a 12.74 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last three months, insiders purchased 12,025 shares of company stock valued at $122,058. Corporate insiders own 10.89% of the company’s stock.

Primis Financial Trading Down 2.0 %

NASDAQ FRST opened at $10.12 on Friday. Primis Financial Corp. has a 52-week low of $9.52 and a 52-week high of $13.52. The company has a quick ratio of 0.86, a current ratio of 0.99 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $250.20 million, a P/E ratio of -33.73 and a beta of 0.78. The firm has a 50-day moving average price of $10.73 and a 200 day moving average price of $11.50.

Primis Financial (NASDAQ:FRST) last issued its earnings results on Tuesday, January 28th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.76). Primis Financial had a negative net margin of 2.97% and a negative return on equity of 2.05%. Equities research analysts expect that Primis Financial Corp. will post 1.4 EPS for the current year.

Primis Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were issued a $0.10 dividend. The ex-dividend date was Wednesday, February 12th. This represents a $0.40 dividend on an annualized basis and a yield of 3.95%. Primis Financial’s dividend payout ratio (DPR) is presently -133.33%.

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.