Price T Rowe Associates Inc. MD Purchases 1,405 Shares of Primis Financial Corp. (NASDAQ:FRST)

Price T Rowe Associates Inc. MD raised its stake in shares of Primis Financial Corp. (NASDAQ:FRST) by 4.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 30,968 shares of the company’s stock after purchasing an additional 1,405 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Primis Financial were worth $362,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. PL Capital Advisors LLC boosted its stake in shares of Primis Financial by 1,066.0% in the 4th quarter. PL Capital Advisors LLC now owns 5,541,310 shares of the company’s stock worth $64,612,000 after buying an additional 5,066,069 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Primis Financial by 2.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,160,127 shares of the company’s stock valued at $13,527,000 after purchasing an additional 28,930 shares during the last quarter. Mendon Capital Advisors Corp raised its holdings in Primis Financial by 11.3% during the 4th quarter. Mendon Capital Advisors Corp now owns 1,051,728 shares of the company’s stock valued at $12,263,000 after acquiring an additional 106,721 shares during the period. Fourthstone LLC raised its holdings in Primis Financial by 263.3% during the 4th quarter. Fourthstone LLC now owns 898,014 shares of the company’s stock valued at $10,471,000 after acquiring an additional 650,820 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in Primis Financial by 14.0% during the 4th quarter. Renaissance Technologies LLC now owns 389,513 shares of the company’s stock valued at $4,542,000 after acquiring an additional 47,900 shares during the period. Institutional investors and hedge funds own 74.96% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Maxim Group initiated coverage on shares of Primis Financial in a report on Monday. They issued a “buy” rating and a $1.00 price target on the stock.

Primis Financial Stock Up 1.1%

FRST opened at $9.43 on Thursday. The business’s fifty day simple moving average is $9.04 and its 200 day simple moving average is $10.66. Primis Financial Corp. has a 52 week low of $7.59 and a 52 week high of $13.52. The stock has a market cap of $233.14 million, a PE ratio of -31.43 and a beta of 0.65. The company has a quick ratio of 0.86, a current ratio of 0.99 and a debt-to-equity ratio of 0.24.

Primis Financial (NASDAQ:FRST) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.12). The company had revenue of $32.53 million for the quarter, compared to the consensus estimate of $26.90 million. Primis Financial had a negative net margin of 2.97% and a negative return on equity of 2.05%. As a group, research analysts expect that Primis Financial Corp. will post 1.4 earnings per share for the current fiscal year.

Primis Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $0.40 annualized dividend and a dividend yield of 4.24%. Primis Financial’s payout ratio is presently -137.93%.

Insider Buying and Selling

In other news, Director John Fitzgerald Biagas bought 10,000 shares of the stock in a transaction dated Wednesday, March 12th. The stock was bought at an average price of $9.97 per share, for a total transaction of $99,700.00. Following the purchase, the director now directly owns 88,469 shares in the company, valued at $882,035.93. This trade represents a 12.74% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 10.89% of the stock is owned by insiders.

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.