Arrowstreet Capital Limited Partnership Sells 65,162 Shares of Primis Financial Corp. (NASDAQ:FRST)

Arrowstreet Capital Limited Partnership lessened its position in shares of Primis Financial Corp. (NASDAQ:FRST) by 33.0% in the 4th quarter, HoldingsChannel reports. The fund owned 132,336 shares of the company’s stock after selling 65,162 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Primis Financial were worth $1,543,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its holdings in Primis Financial by 4.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 59,324 shares of the company’s stock worth $723,000 after purchasing an additional 2,708 shares during the last quarter. Victory Capital Management Inc. grew its stake in Primis Financial by 12.8% during the 4th quarter. Victory Capital Management Inc. now owns 88,000 shares of the company’s stock worth $1,026,000 after buying an additional 10,000 shares during the last quarter. Geode Capital Management LLC grew its stake in Primis Financial by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 466,212 shares of the company’s stock worth $5,679,000 after buying an additional 10,656 shares during the last quarter. State Street Corp increased its position in Primis Financial by 2.6% during the 3rd quarter. State Street Corp now owns 423,407 shares of the company’s stock valued at $5,157,000 after buying an additional 10,923 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised 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 buying an additional 19,454 shares during the last quarter. Hedge funds and other institutional investors own 74.96% of the company’s stock.

Insider Buying and Selling

In other news, Director John Fitzgerald Biagas acquired 10,000 shares of the business’s stock in a transaction dated Wednesday, March 12th. The shares were acquired at an average cost of $9.97 per share, with a total value 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 acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders bought 12,025 shares of company stock worth $122,058 in the last 90 days. Insiders own 10.89% of the company’s stock.

Primis Financial Price Performance

Shares of FRST stock opened at $8.00 on Friday. Primis Financial Corp. has a fifty-two week low of $7.75 and a fifty-two week high of $13.52. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.86 and a current ratio of 0.99. The firm has a market capitalization of $197.78 million, a price-to-earnings ratio of -26.67 and a beta of 0.59. The stock’s 50-day simple moving average is $10.07 and its 200-day simple moving average is $11.20.

Primis Financial (NASDAQ:FRST) last released its earnings results on Tuesday, January 28th. The company reported ($0.65) earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.76). Primis Financial had a negative return on equity of 2.05% and a negative net margin of 2.97%. As a group, equities analysts forecast that Primis Financial Corp. will post 1.4 earnings per share for the current fiscal year.

Primis Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 5.00%. The ex-dividend date was Wednesday, February 12th. Primis Financial’s payout ratio is -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.