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

Prudential Financial Inc. decreased its holdings in shares of Primis Financial Corp. (NASDAQ:FRST) by 5.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 122,200 shares of the company’s stock after selling 7,600 shares during the quarter. Prudential Financial Inc.’s holdings in Primis Financial were worth $1,425,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. lifted its position in Primis Financial by 4.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 59,324 shares of the company’s stock valued at $723,000 after purchasing an additional 2,708 shares during the last quarter. State Street Corp grew its position in Primis Financial by 2.6% in the third quarter. State Street Corp now owns 423,407 shares of the company’s stock worth $5,157,000 after acquiring an additional 10,923 shares in the last quarter. Barclays PLC grew its position in Primis Financial by 243.8% in the third quarter. Barclays PLC now owns 27,441 shares of the company’s stock worth $334,000 after acquiring an additional 19,460 shares in the last quarter. Geode Capital Management LLC raised its position in Primis Financial by 2.3% during the third quarter. Geode Capital Management LLC now owns 466,212 shares of the company’s stock valued at $5,679,000 after purchasing an additional 10,656 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Primis Financial by 120.0% during the third quarter. JPMorgan Chase & Co. now owns 71,112 shares of the company’s stock worth $866,000 after purchasing an additional 38,792 shares during the last quarter. 74.96% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director John Fitzgerald Biagas bought 10,000 shares of the business’s stock in a transaction dated Wednesday, March 12th. The shares were purchased at an average price of $9.97 per share, for a total transaction of $99,700.00. Following the completion of the acquisition, the director now owns 88,469 shares of the company’s stock, valued at approximately $882,035.93. This trade represents a 12.74 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In the last quarter, insiders purchased 12,025 shares of company stock valued at $122,058. Insiders own 10.89% of the company’s stock.

Primis Financial Price Performance

Shares of Primis Financial stock opened at $8.42 on Friday. The firm has a market capitalization of $208.17 million, a PE ratio of -28.07 and a beta of 0.59. The business’s 50-day moving average price is $10.40 and its 200-day moving average price is $11.35. The company has a current ratio of 0.99, a quick ratio of 0.86 and a debt-to-equity ratio of 0.24. Primis Financial Corp. has a 12 month low of $8.11 and a 12 month high of $13.52.

Primis Financial (NASDAQ:FRST) last announced its quarterly earnings data 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%. Sell-side analysts forecast that Primis Financial Corp. will post 1.4 EPS for the current fiscal year.

Primis Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders 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 annualized dividend and a dividend yield of 4.75%. Primis Financial’s dividend payout ratio is currently -133.33%.

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.