Connor Clark & Lunn Investment Management Ltd. Boosts Stock Holdings in Primis Financial Corp. (NASDAQ:FRST)

Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Primis Financial Corp. (NASDAQ:FRST) by 15.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 144,482 shares of the company’s stock after buying an additional 19,454 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.58% of Primis Financial worth $1,685,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of FRST. PL Capital Advisors LLC lifted its position in shares of Primis Financial by 1,066.0% during the fourth quarter. PL Capital Advisors LLC now owns 5,541,310 shares of the company’s stock worth $64,612,000 after acquiring an additional 5,066,069 shares in the last quarter. Fourthstone LLC lifted its holdings in Primis Financial by 271.5% during the 3rd quarter. Fourthstone LLC now owns 247,194 shares of the company’s stock worth $3,011,000 after purchasing an additional 180,655 shares in the last quarter. Foundry Partners LLC boosted its stake in Primis Financial by 14.5% in the 3rd quarter. Foundry Partners LLC now owns 393,575 shares of the company’s stock worth $4,794,000 after purchasing an additional 49,735 shares during the period. JPMorgan Chase & Co. grew its holdings in Primis Financial by 120.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 71,112 shares of the company’s stock valued at $866,000 after buying an additional 38,792 shares in the last quarter. Finally, Rhumbline Advisers lifted its holdings in shares of Primis Financial by 94.3% in the fourth quarter. Rhumbline Advisers now owns 70,869 shares of the company’s stock worth $826,000 after buying an additional 34,394 shares in the last quarter. 74.96% of the stock is owned by institutional investors.

Primis Financial Price Performance

FRST stock opened at $10.33 on Thursday. The firm has a 50 day moving average of $10.75 and a 200-day moving average of $11.51. The company has a current ratio of 0.99, a quick ratio of 0.86 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $255.39 million, a P/E ratio of -34.43 and a beta of 0.78. Primis Financial Corp. has a 12 month low of $9.52 and a 12 month high of $13.52.

Primis Financial (NASDAQ:FRST) last released its quarterly earnings results on Tuesday, January 28th. The company reported ($0.65) 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%. As a group, sell-side analysts predict that Primis Financial Corp. will post 1.4 earnings per share for the current fiscal year.

Primis Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders 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 3.87%. Primis Financial’s payout ratio is currently -133.33%.

Insider Activity

In related news, Director John Fitzgerald Biagas bought 10,000 shares of the stock in a transaction that occurred on 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 purchase, the director now directly owns 88,469 shares of the company’s stock, valued at $882,035.93. This trade represents a 12.74 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. In the last 90 days, insiders acquired 12,025 shares of company stock worth $122,058. 10.89% of the stock is currently owned by insiders.

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.