Victory Capital Management Inc. Purchases 4,000 Shares of Primis Financial Corp. (NASDAQ:FRST)

Victory Capital Management Inc. lifted its position in shares of Primis Financial Corp. (NASDAQ:FRST) by 5.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 78,000 shares of the company’s stock after acquiring an additional 4,000 shares during the quarter. Victory Capital Management Inc.’s holdings in Primis Financial were worth $950,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in FRST. Princeton Capital Management LLC bought a new stake in Primis Financial in the second quarter valued at about $105,000. Mackenzie Financial Corp bought a new stake in Primis Financial in the second quarter valued at about $106,000. Northwestern Mutual Wealth Management Co. bought a new stake in Primis Financial in the second quarter valued at about $144,000. AQR Capital Management LLC increased its holdings in Primis Financial by 55.1% in the second quarter. AQR Capital Management LLC now owns 19,097 shares of the company’s stock valued at $200,000 after purchasing an additional 6,783 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in Primis Financial by 4.2% in the first 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. Institutional investors own 74.96% of the company’s stock.

Primis Financial Trading Down 0.7 %

NASDAQ FRST opened at $12.50 on Thursday. Primis Financial Corp. has a 12 month low of $9.52 and a 12 month high of $13.69. The company has a current ratio of 1.00, a quick ratio of 0.98 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $309 million, a PE ratio of 13.56 and a beta of 0.75. The stock has a 50-day simple moving average of $11.97 and a 200 day simple moving average of $11.45.

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

Primis Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were paid a $0.10 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.40 dividend on an annualized basis and a yield of 3.20%.

Wall Street Analyst Weigh In

Separately, Stephens dropped their price objective on Primis Financial from $16.00 to $14.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th.

Primis Financial 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.