Invesco Ltd. Sells 8,088 Shares of Primis Financial Corp. $FRST

Invesco Ltd. decreased its position in Primis Financial Corp. (NASDAQ:FRST) by 14.6% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 47,278 shares of the company’s stock after selling 8,088 shares during the period. Invesco Ltd.’s holdings in Primis Financial were worth $462,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in FRST. Price T Rowe Associates Inc. MD lifted its stake in Primis Financial by 4.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 30,968 shares of the company’s stock worth $362,000 after acquiring an additional 1,405 shares during the period. Wells Fargo & Company MN lifted its stake in Primis Financial by 25.7% in the fourth quarter. Wells Fargo & Company MN now owns 12,639 shares of the company’s stock worth $147,000 after acquiring an additional 2,585 shares during the period. Bank of New York Mellon Corp lifted its stake in Primis Financial by 2.1% in the first quarter. Bank of New York Mellon Corp now owns 140,406 shares of the company’s stock worth $1,372,000 after acquiring an additional 2,831 shares during the period. Victory Capital Management Inc. lifted its stake in Primis Financial by 4.0% in the first quarter. Victory Capital Management Inc. now owns 91,500 shares of the company’s stock worth $894,000 after acquiring an additional 3,500 shares during the period. Finally, BNP Paribas Financial Markets purchased a new stake in Primis Financial in the fourth quarter worth $51,000. Institutional investors own 74.96% of the company’s stock.

Primis Financial Stock Performance

Shares of Primis Financial stock opened at $11.17 on Friday. The business has a fifty day simple moving average of $11.27 and a two-hundred day simple moving average of $10.09. The company has a current ratio of 0.98, a quick ratio of 0.95 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $275.23 million, a P/E ratio of -124.11 and a beta of 0.82. Primis Financial Corp. has a 12 month low of $7.59 and a 12 month high of $12.95.

Primis Financial (NASDAQ:FRST) last posted its quarterly earnings results on Thursday, July 24th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.13). The company had revenue of $42.36 million during the quarter, compared to analysts’ expectations of $28.13 million. Primis Financial had a negative return on equity of 2.02% and a negative net margin of 0.93%. On average, equities analysts forecast that Primis Financial Corp. will post 1.4 earnings per share for the current fiscal year.

Primis Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend was Friday, August 8th. Primis Financial’s payout ratio is currently -444.44%.

Analyst Upgrades and Downgrades

FRST has been the subject of a number of research analyst reports. Maxim Group initiated coverage on Primis Financial in a research note on Monday, May 12th. They issued a “buy” rating and a $1.00 price target for the company. Wall Street Zen raised Primis Financial from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $7.50.

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.