SG Americas Securities LLC Takes Position in Primis Financial Corp. (NASDAQ:FRST)

SG Americas Securities LLC acquired a new stake in Primis Financial Corp. (NASDAQ:FRST) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 11,033 shares of the company’s stock, valued at approximately $140,000.

Several other hedge funds also recently modified their holdings of FRST. UBS Group AG increased its stake in Primis Financial by 2,818.0% during the 3rd quarter. UBS Group AG now owns 2,918 shares of the company’s stock valued at $35,000 after purchasing an additional 2,818 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in Primis Financial by 124.2% during the 3rd quarter. Tower Research Capital LLC TRC now owns 5,006 shares of the company’s stock valued at $61,000 after purchasing an additional 2,773 shares in the last quarter. Citigroup Inc. increased its stake in Primis Financial by 100.1% during the 4th quarter. Citigroup Inc. now owns 5,444 shares of the company’s stock valued at $65,000 after purchasing an additional 2,724 shares in the last quarter. Barclays PLC increased its stake in Primis Financial by 533.7% during the 4th quarter. Barclays PLC now owns 5,950 shares of the company’s stock valued at $71,000 after purchasing an additional 5,011 shares in the last quarter. Finally, BNP Paribas Arbitrage SNC bought a new stake in Primis Financial during the 3rd quarter valued at $77,000. Institutional investors own 74.96% of the company’s stock.

Primis Financial Price Performance

FRST opened at $10.60 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.99 and a quick ratio of 0.97. The company has a market capitalization of $261.61 million, a price-to-earnings ratio of 12.33 and a beta of 0.73. The firm’s fifty day moving average price is $11.95 and its two-hundred day moving average price is $11.11. Primis Financial Corp. has a 1 year low of $7.01 and a 1 year high of $13.69.

Primis Financial (NASDAQ:FRST) last posted its quarterly earnings data on Thursday, January 25th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.07. The firm had revenue of $39.24 million for the quarter, compared to the consensus estimate of $36.17 million. Primis Financial had a net margin of 8.73% and a return on equity of 5.90%. As a group, analysts anticipate that Primis Financial Corp. will post 1.57 earnings per share for the current fiscal year.

Primis Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 9th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date of this dividend was Thursday, February 8th. Primis Financial’s dividend payout ratio is 46.51%.

Wall Street Analysts Forecast Growth

Separately, TheStreet upgraded shares of Primis Financial from a “c” rating to a “b” rating in a research note on Friday, January 26th.

Insider Buying and Selling

In related news, Director Charles A. Kabbash purchased 3,390 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The shares were bought at an average cost of $12.51 per share, with a total value of $42,408.90. Following the acquisition, the director now owns 76,183 shares of the company’s stock, valued at $953,049.33. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders have purchased 7,500 shares of company stock valued at $91,631. 10.63% of the stock is 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.