Charles A. Kabbash Buys 1,850 Shares of Primis Financial Corp. (NASDAQ:FRST) Stock

Primis Financial Corp. (NASDAQ:FRSTGet Rating) Director Charles A. Kabbash bought 1,850 shares of the firm’s stock in a transaction dated Wednesday, June 22nd. The shares were bought at an average price of $13.49 per share, with a total value of $24,956.50. Following the completion of the transaction, the director now directly owns 61,810 shares in the company, valued at approximately $833,816.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Shares of Primis Financial stock traded up $0.06 during trading on Thursday, hitting $13.24. 68,050 shares of the company were exchanged, compared to its average volume of 48,335. The firm has a market capitalization of $326.01 million, a P/E ratio of 12.19 and a beta of 0.93. Primis Financial Corp. has a 1-year low of $12.71 and a 1-year high of $16.54. The firm’s fifty day moving average price is $13.33 and its 200 day moving average price is $14.23. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.99 and a quick ratio of 0.99.

Primis Financial (NASDAQ:FRSTGet Rating) last posted its earnings results on Thursday, April 28th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.04). Primis Financial had a return on equity of 6.96% and a net margin of 21.67%. The company had revenue of $24.94 million for the quarter, compared to analyst estimates of $26.06 million. During the same quarter in the previous year, the firm posted $0.39 earnings per share. As a group, equities research analysts anticipate that Primis Financial Corp. will post 1.03 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 27th. Investors of record on Friday, May 13th were given a $0.10 dividend. The ex-dividend date of this dividend was Thursday, May 12th. This represents a $0.40 annualized dividend and a dividend yield of 3.02%. Primis Financial’s dividend payout ratio is presently 37.04%.

Separately, TheStreet lowered Primis Financial from a “b” rating to a “c+” rating in a research report on Friday, April 29th.

Several institutional investors and hedge funds have recently modified their holdings of the stock. EJF Capital LLC grew its position in shares of Primis Financial by 12.7% in the 1st quarter. EJF Capital LLC now owns 431,111 shares of the company’s stock valued at $6,027,000 after purchasing an additional 48,727 shares during the period. Goldman Sachs Group Inc. lifted its stake in Primis Financial by 8.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 22,494 shares of the company’s stock valued at $314,000 after acquiring an additional 1,692 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Primis Financial by 1.6% in the 1st quarter. Renaissance Technologies LLC now owns 399,413 shares of the company’s stock valued at $5,584,000 after acquiring an additional 6,463 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Primis Financial by 2.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 64,600 shares of the company’s stock valued at $904,000 after acquiring an additional 1,708 shares in the last quarter. Finally, Fourthstone LLC lifted its stake in Primis Financial by 309.9% in the 1st quarter. Fourthstone LLC now owns 134,203 shares of the company’s stock valued at $1,876,000 after acquiring an additional 101,466 shares in the last quarter. Institutional investors and hedge funds own 67.90% of the company’s stock.

About Primis Financial (Get Rating)

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.

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