Primis Financial Corp. (NASDAQ:FRST) Short Interest Update

Primis Financial Corp. (NASDAQ:FRST) was the target of a large increase in short interest during the month of November. As of November 15th, there was short interest totalling 90,100 shares, an increase of 11.2% from the October 31st total of 81,000 shares. Based on an average trading volume of 62,400 shares, the days-to-cover ratio is presently 1.4 days. Currently, 0.5% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

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

Primis Financial Stock Down 0.6 %

Shares of FRST stock opened at $12.38 on Wednesday. Primis Financial has a 1-year low of $9.52 and a 1-year high of $13.69. The stock’s fifty day moving average price is $11.99 and its 200 day moving average price is $11.50. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.00 and a quick ratio of 0.98. The company has a market cap of $306.03 million, a price-to-earnings ratio of 13.26 and a beta of 0.78.

Primis Financial (NASDAQ:FRST) last issued its quarterly earnings data on Thursday, October 24th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate 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 previous year, the business posted $0.32 earnings per share. On average, research analysts expect that Primis Financial will post 0.5 earnings per share for the current fiscal year.

Primis Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date was Friday, November 8th.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD boosted its position in shares of Primis Financial by 4.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 33,693 shares of the company’s stock worth $411,000 after buying an additional 1,348 shares during the period. American Century Companies Inc. increased its position in shares of Primis Financial by 1.1% during the second quarter. American Century Companies Inc. now owns 130,093 shares of the company’s stock worth $1,363,000 after purchasing an additional 1,410 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Primis Financial by 4.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 59,324 shares of the company’s stock valued at $723,000 after acquiring an additional 2,708 shares during the period. Segall Bryant & Hamill LLC increased its stake in Primis Financial by 1.9% in the third quarter. Segall Bryant & Hamill LLC now owns 182,617 shares of the company’s stock valued at $2,224,000 after purchasing an additional 3,346 shares during the period. Finally, Victory Capital Management Inc. raised its stake in Primis Financial by 5.4% during the 3rd quarter. Victory Capital Management Inc. now owns 78,000 shares of the company’s stock valued at $950,000 after acquiring an additional 4,000 shares during the last quarter. 74.96% of the stock is currently owned by institutional investors and hedge funds.

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.