Geode Capital Management LLC Takes Position in Primis Financial Corp. (NASDAQ:FRST)

Geode Capital Management LLC bought a new stake in Primis Financial Corp. (NASDAQ:FRST) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 314,242 shares of the company’s stock, valued at approximately $4,569,000. Geode Capital Management LLC owned about 1.28% of Primis Financial at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of FRST. Dalton Greiner Hartman Maher & Co. bought a new position in shares of Primis Financial in the first quarter valued at approximately $292,000. Wedge Capital Management L L P NC bought a new position in shares of Primis Financial in the first quarter valued at approximately $2,109,000. Strs Ohio acquired a new stake in shares of Primis Financial in the first quarter valued at approximately $732,000. Nisa Investment Advisors LLC acquired a new stake in shares of Primis Financial in the first quarter valued at approximately $93,000. Finally, JFS Wealth Advisors LLC acquired a new stake in shares of Primis Financial in the first quarter valued at approximately $29,000. Institutional investors own 62.02% of the company’s stock.

In other news, Director Eric Alan Johnson purchased 1,715 shares of the firm’s stock in a transaction dated Thursday, May 6th. The stock was bought at an average price of $14.75 per share, with a total value of $25,296.25. Following the acquisition, the director now directly owns 22,552 shares of the company’s stock, valued at $332,642. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William Rand Cook purchased 1,650 shares of the firm’s stock in a transaction dated Wednesday, June 9th. The stock was purchased at an average cost of $15.53 per share, with a total value of $25,624.50. The disclosure for this purchase can be found here. Insiders have acquired a total of 15,390 shares of company stock valued at $229,149 in the last ninety days. Company insiders own 2.88% of the company’s stock.

Separately, Zacks Investment Research lowered shares of Primis Financial from a “buy” rating to a “hold” rating in a report on Friday, May 7th.

Shares of Primis Financial stock opened at $15.26 on Thursday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $374.33 million, a price-to-earnings ratio of 11.47 and a beta of 1.11. The firm has a 50 day moving average of $15.15. Primis Financial Corp. has a fifty-two week low of $8.02 and a fifty-two week high of $16.32.

Primis Financial (NASDAQ:FRST) last issued its quarterly earnings results on Thursday, April 29th. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.10. Primis Financial had a net margin of 22.35% and a return on equity of 7.76%. The business had revenue of $28.77 million during the quarter, compared to analyst estimates of $28.10 million. Equities analysts anticipate that Primis Financial Corp. will post 1.12 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, May 24th. Shareholders of record on Friday, May 14th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date was Thursday, May 13th. Primis Financial’s dividend payout ratio is presently 38.83%.

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 noninterest-bearing and interest-bearing checking, commercial checking, money market, and savings accounts, as well as certificates of deposit.

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Institutional Ownership by Quarter for Primis Financial (NASDAQ:FRST)

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