Stephens Lowers Primis Financial (NASDAQ:FRST) Price Target to $14.00

Primis Financial (NASDAQ:FRST) had its price objective lowered by Stephens from $16.00 to $14.00 in a report published on Wednesday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Primis Financial Price Performance

Shares of NASDAQ FRST opened at $11.22 on Wednesday. The stock has a market capitalization of $277.36 million, a PE ratio of 10.20 and a beta of 0.75. Primis Financial has a fifty-two week low of $9.34 and a fifty-two week high of $13.69. The business has a fifty day moving average price of $11.82 and a two-hundred day moving average price of $11.24.

Primis Financial (NASDAQ:FRST) last posted its quarterly earnings data on Thursday, October 24th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.35). The company had revenue of $66.40 million for the quarter. During the same quarter in the previous year, the business earned $0.32 earnings per share. On average, equities analysts expect that Primis Financial will post 1.65 EPS for the current year.

Primis Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be given a dividend of $0.10 per share. The ex-dividend date is Friday, November 8th. This represents a $0.40 annualized dividend and a yield of 3.57%. Primis Financial’s dividend payout ratio is currently 36.36%.

Institutional Investors Weigh In On Primis Financial

A number of large investors have recently modified their holdings of FRST. Vanguard Group Inc. lifted its position in shares of Primis Financial by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 1,107,530 shares of the company’s stock worth $13,479,000 after buying an additional 7,312 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Primis Financial by 2.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,104,475 shares of the company’s stock worth $11,574,000 after acquiring an additional 23,653 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Primis Financial by 3.8% in the 2nd quarter. Renaissance Technologies LLC now owns 353,813 shares of the company’s stock valued at $3,708,000 after purchasing an additional 12,900 shares in the last quarter. Hillsdale Investment Management Inc. grew its holdings in shares of Primis Financial by 125.1% during the 1st quarter. Hillsdale Investment Management Inc. now owns 204,980 shares of the company’s stock valued at $2,495,000 after purchasing an additional 113,911 shares during the last quarter. Finally, Acadian Asset Management LLC increased its position in Primis Financial by 22.6% during the 2nd quarter. Acadian Asset Management LLC now owns 178,312 shares of the company’s stock worth $1,867,000 after purchasing an additional 32,896 shares in the last quarter. Institutional investors and hedge funds own 74.96% of the company’s stock.

Primis Financial Company 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.