Empowered Funds LLC Has $431,000 Position in Primis Financial Corp. (NASDAQ:FRST)

Empowered Funds LLC lowered its holdings in shares of Primis Financial Corp. (NASDAQ:FRST) by 31.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,372 shares of the company’s stock after selling 16,593 shares during the quarter. Empowered Funds LLC owned 0.14% of Primis Financial worth $431,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in FRST. Jacobs Levy Equity Management Inc. grew its stake in shares of Primis Financial by 103.9% in the first quarter. Jacobs Levy Equity Management Inc. now owns 124,757 shares of the company’s stock valued at $1,518,000 after buying an additional 63,582 shares in the last quarter. Inspire Investing LLC acquired a new stake in shares of Primis Financial in the 3rd quarter valued at approximately $828,000. Vanguard Group Inc. increased its holdings in Primis Financial by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 1,107,530 shares of the company’s stock worth $13,479,000 after purchasing an additional 7,312 shares in the last quarter. Panagora Asset Management Inc. raised its stake in shares of Primis Financial by 13.5% during the second quarter. Panagora Asset Management Inc. now owns 70,578 shares of the company’s stock valued at $740,000 after acquiring an additional 8,398 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Primis Financial by 4.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 33,693 shares of the company’s stock worth $411,000 after acquiring an additional 1,348 shares during the period. Institutional investors own 74.96% of the company’s stock.

Wall Street Analyst Weigh In

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

Primis Financial Trading Up 1.8 %

FRST opened at $12.63 on Monday. The firm has a market capitalization of $312.25 million, a PE ratio of 13.20 and a beta of 0.75. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.00 and a quick ratio of 0.98. Primis Financial Corp. has a fifty-two week low of $9.52 and a fifty-two week high of $13.69. The company’s 50-day moving average is $11.94 and its 200 day moving average is $11.42.

Primis Financial (NASDAQ:FRST) last released 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). Primis Financial had a net margin of 7.31% and a return on equity of 4.65%. The company had revenue of $66.40 million during the quarter. During the same period in the prior year, the firm earned $0.32 earnings per share. As a group, research analysts predict that Primis Financial Corp. will post 0.5 earnings per share for the current fiscal 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 given 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 3.17%.

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.