Primis Financial Corp. (NASDAQ:FRST) Shares Sold by LSV Asset Management

LSV Asset Management lowered its position in Primis Financial Corp. (NASDAQ:FRST) by 3.0% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 118,722 shares of the company’s stock after selling 3,700 shares during the period. LSV Asset Management’s holdings in Primis Financial were worth $1,503,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Anchor Investment Management LLC acquired a new position in shares of Primis Financial during the 4th quarter valued at about $127,000. SG Americas Securities LLC acquired a new position in Primis Financial in the fourth quarter valued at about $140,000. Citigroup Inc. boosted its stake in Primis Financial by 112.1% during the third quarter. Citigroup Inc. now owns 45,619 shares of the company’s stock worth $372,000 after buying an additional 24,111 shares during the period. Finally, ELCO Management Co. LLC increased its position in shares of Primis Financial by 77.0% during the third quarter. ELCO Management Co. LLC now owns 55,632 shares of the company’s stock valued at $453,000 after acquiring an additional 24,210 shares during the last quarter. Institutional investors and hedge funds own 74.96% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Primis Financial Stock Down 1.1 %

Shares of NASDAQ:FRST opened at $10.73 on Friday. The firm has a market capitalization of $264.82 million, a PE ratio of 12.48 and a beta of 0.78. Primis Financial Corp. has a 1 year low of $7.01 and a 1 year high of $13.69. 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 firm’s 50-day moving average is $11.30 and its two-hundred day moving average is $11.37.

Primis Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 3.73%. The ex-dividend date is Thursday, May 9th. Primis Financial’s payout ratio is currently 46.51%.

Insider Activity

In other news, Director Charles A. Kabbash purchased 3,390 shares of the stock in a transaction on Tuesday, March 12th. The stock was bought at an average price of $12.51 per share, for a total transaction of $42,408.90. Following the acquisition, the director now directly owns 76,183 shares of the company’s stock, valued at approximately $953,049.33. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders purchased 7,500 shares of company stock worth $91,631. 10.63% of the stock is currently owned by company 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.