Salzhauer Michael Acquires 926 Shares of Primis Financial Corp. (NASDAQ:FRST)

Salzhauer Michael boosted its holdings in shares of Primis Financial Corp. (NASDAQ:FRST) by 0.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 756,258 shares of the company’s stock after buying an additional 926 shares during the quarter. Primis Financial accounts for about 3.0% of Salzhauer Michael’s portfolio, making the stock its 7th largest holding. Salzhauer Michael’s holdings in Primis Financial were worth $8,818,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Geode Capital Management LLC raised its holdings in shares of Primis Financial by 2.3% during the third quarter. Geode Capital Management LLC now owns 466,212 shares of the company’s stock worth $5,679,000 after purchasing an additional 10,656 shares during the last quarter. State Street Corp grew 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 worth $5,157,000 after purchasing an additional 10,923 shares during the period. Foundry Partners LLC raised its stake in shares of Primis Financial by 14.5% during the 3rd quarter. Foundry Partners LLC now owns 393,575 shares of the company’s stock valued at $4,794,000 after buying an additional 49,735 shares during the last quarter. Fourthstone LLC lifted its holdings in shares of Primis Financial by 271.5% in the 3rd quarter. Fourthstone LLC now owns 247,194 shares of the company’s stock valued at $3,011,000 after buying an additional 180,655 shares during the period. Finally, Segall Bryant & Hamill LLC boosted its stake in shares of Primis Financial by 1.9% in the third quarter. Segall Bryant & Hamill LLC now owns 182,617 shares of the company’s stock worth $2,224,000 after buying an additional 3,346 shares during the last quarter. 74.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Stephens reduced their price target on Primis Financial from $16.00 to $14.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th.

Primis Financial Stock Performance

FRST opened at $11.14 on Monday. The firm has a fifty day moving average price of $11.57 and a 200 day moving average price of $11.81. Primis Financial Corp. has a 1 year low of $9.52 and a 1 year high of $13.52. The stock has a market cap of $275.38 million, a P/E ratio of 11.86 and a beta of 0.78. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.99 and a quick ratio of 0.86.

Primis Financial (NASDAQ:FRST) last issued its quarterly earnings data on Tuesday, January 28th. The company reported ($0.65) earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.76). Primis Financial had a negative return on equity of 2.95% and a negative net margin of 2.97%. Equities research analysts anticipate that Primis Financial Corp. will post 1.4 earnings per share for the current year.

Primis Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 3.59%. The ex-dividend date of this dividend is Wednesday, February 12th.

Insiders Place Their Bets

In other news, Director F L. Garrett III purchased 3,660 shares of the stock in a transaction dated Friday, December 13th. The shares were purchased at an average cost of $12.32 per share, with a total value of $45,091.20. Following the completion of the purchase, the director now directly owns 41,169 shares of the company’s stock, valued at approximately $507,202.08. The trade was a 9.76 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Over the last ninety days, insiders purchased 5,685 shares of company stock worth $67,449. Company insiders own 10.89% of the company’s stock.

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.