Prudential Financial Inc. Sells 7,600 Shares of Primis Financial Corp. (NASDAQ:FRST)

Prudential Financial Inc. cut its holdings in shares of Primis Financial Corp. (NASDAQ:FRST) by 5.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 122,200 shares of the company’s stock after selling 7,600 shares during the quarter. Prudential Financial Inc. owned approximately 0.49% of Primis Financial worth $1,425,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in FRST. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Primis Financial by 15.6% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 144,482 shares of the company’s stock valued at $1,685,000 after acquiring an additional 19,454 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Primis Financial by 12.8% in the fourth quarter. Victory Capital Management Inc. now owns 88,000 shares of the company’s stock valued at $1,026,000 after purchasing an additional 10,000 shares during the last quarter. PL Capital Advisors LLC increased its position in Primis Financial by 1,066.0% in the fourth quarter. PL Capital Advisors LLC now owns 5,541,310 shares of the company’s stock worth $64,612,000 after buying an additional 5,066,069 shares during the last quarter. Rhumbline Advisers raised its stake in shares of Primis Financial by 94.3% in the fourth quarter. Rhumbline Advisers now owns 70,869 shares of the company’s stock valued at $826,000 after buying an additional 34,394 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in shares of Primis Financial by 120.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 71,112 shares of the company’s stock valued at $866,000 after buying an additional 38,792 shares during the last quarter. 74.96% of the stock is currently owned by institutional investors.

Primis Financial Trading Down 3.7 %

Shares of FRST opened at $8.42 on Friday. Primis Financial Corp. has a fifty-two week low of $8.11 and a fifty-two week high of $13.52. The business has a 50-day moving average of $10.40 and a 200 day moving average of $11.35. The firm has a market cap of $208.17 million, a P/E ratio of -28.07 and a beta of 0.59. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.86 and a current ratio of 0.99.

Primis Financial (NASDAQ:FRST) last posted its quarterly earnings results on Tuesday, January 28th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing the consensus estimate 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%. As a group, research analysts forecast that Primis Financial Corp. will post 1.4 EPS for the current year.

Primis Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.75%. The ex-dividend date was Wednesday, February 12th. Primis Financial’s payout ratio is currently -133.33%.

Insider Activity

In other news, Director John Fitzgerald Biagas acquired 10,000 shares of the business’s stock in a transaction dated Wednesday, March 12th. The stock was bought at an average cost of $9.97 per share, for a total transaction of $99,700.00. Following the completion of the transaction, the director now owns 88,469 shares of the company’s stock, valued at $882,035.93. The trade was a 12.74 % increase in their ownership of the stock. The purchase was disclosed in a legal 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 worth $122,058. 10.89% of the stock is owned by corporate insiders.

Primis Financial 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.