Corbyn Investment Management Inc. MD Cuts Stake in Primis Financial Corp. (NASDAQ:FRST)

Corbyn Investment Management Inc. MD lowered its holdings in shares of Primis Financial Corp. (NASDAQ:FRST) by 2.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 321,150 shares of the company’s stock after selling 9,679 shares during the quarter. Primis Financial accounts for about 1.5% of Corbyn Investment Management Inc. MD’s investment portfolio, making the stock its 24th largest holding. Corbyn Investment Management Inc. MD’s holdings in Primis Financial were worth $3,912,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in FRST. Princeton Capital Management LLC bought a new stake in Primis Financial in the second quarter valued at approximately $105,000. Mackenzie Financial Corp bought a new stake in Primis Financial during the 2nd quarter valued at $106,000. Northwestern Mutual Wealth Management Co. purchased a new stake in Primis Financial during the 2nd quarter valued at $144,000. AQR Capital Management LLC grew its holdings in Primis Financial by 55.1% in the 2nd quarter. AQR Capital Management LLC now owns 19,097 shares of the company’s stock worth $200,000 after acquiring an additional 6,783 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position 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 valued at $411,000 after acquiring an additional 1,348 shares during the period. Hedge funds and other institutional investors own 74.96% of the company’s stock.

Primis Financial Price Performance

Shares of FRST stock opened at $12.16 on Monday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.98 and a current ratio of 1.00. Primis Financial Corp. has a fifty-two week low of $9.52 and a fifty-two week high of $13.69. The firm has a market cap of $300.60 million, a P/E ratio of 12.94 and a beta of 0.75. The business’s 50 day moving average price is $11.84 and its 200-day moving average price is $11.36.

Primis Financial (NASDAQ:FRST) last announced 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). The business had revenue of $66.40 million during the quarter. Primis Financial had a return on equity of 4.63% and a net margin of 7.31%. During the same period last year, the firm earned $0.32 earnings per share. On average, equities research analysts anticipate that Primis Financial Corp. will post 0.5 earnings per share for the current year.

Primis Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date is Friday, November 8th.

Analyst Ratings Changes

Separately, Stephens dropped their target price on shares of Primis Financial from $16.00 to $14.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th.

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.