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

Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Primis Financial Corp. (NASDAQ:FRST) by 91.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 125,028 shares of the company’s stock after purchasing an additional 59,746 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.51% of Primis Financial worth $1,523,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of Primis Financial by 0.7% during the first 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. Price T Rowe Associates Inc. MD grew its stake in shares of Primis Financial by 4.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 33,693 shares of the company’s stock valued at $411,000 after purchasing an additional 1,348 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in shares of Primis Financial by 103.9% in the first quarter. Jacobs Levy Equity Management Inc. now owns 124,757 shares of the company’s stock valued at $1,518,000 after purchasing an additional 63,582 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Primis Financial by 2.8% during the second quarter. Bank of New York Mellon Corp now owns 148,121 shares of the company’s stock worth $1,552,000 after purchasing an additional 4,001 shares during the last quarter. Finally, Panagora Asset Management Inc. lifted its holdings in shares of Primis Financial by 13.5% during the second quarter. Panagora Asset Management Inc. now owns 70,578 shares of the company’s stock worth $740,000 after purchasing an additional 8,398 shares during the period. 74.96% of the stock is owned by hedge funds and other institutional investors.

Primis Financial Stock Performance

Shares of NASDAQ:FRST opened at $12.59 on Wednesday. Primis Financial Corp. has a 52 week low of $9.52 and a 52 week high of $13.69. The company has a 50-day moving average price of $11.96 and a 200 day moving average price of $11.43. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.98 and a current ratio of 1.00.

Primis Financial (NASDAQ:FRST) last posted its quarterly earnings results on Thursday, October 24th. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.35). The business had revenue of $66.40 million during the quarter. Primis Financial had a net margin of 7.31% and a return on equity of 4.65%. During the same quarter in the previous year, the business posted $0.32 EPS. As a group, research analysts predict that Primis Financial Corp. will post 0.5 EPS for the current fiscal year.

Primis Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were issued a $0.10 dividend. The ex-dividend date was Friday, November 8th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.18%.

Analyst Upgrades and Downgrades

Separately, Stephens dropped their price objective on shares of Primis Financial from $16.00 to $14.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th.

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.