TheStreet Downgrades Primis Financial (NASDAQ:FRST) to C+

Primis Financial (NASDAQ:FRSTGet Rating) was downgraded by equities research analysts at TheStreet from a “b” rating to a “c+” rating in a report issued on Friday, TheStreetRatingsTable reports.

Separately, Zacks Investment Research raised Primis Financial from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a research report on Monday, March 7th.

Shares of Primis Financial stock opened at $13.40 on Friday. Primis Financial has a twelve month low of $12.88 and a twelve month high of $16.54. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.47. The firm’s 50 day moving average is $14.01. The company has a market capitalization of $329.91 million, a P/E ratio of 12.41 and a beta of 0.93.

Primis Financial (NASDAQ:FRSTGet Rating) last announced its earnings results on Thursday, April 28th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.04). Primis Financial had a net margin of 21.67% and a return on equity of 6.94%. During the same quarter in the previous year, the business earned $0.39 EPS. As a group, equities research analysts predict that Primis Financial will post 1.06 earnings per share for the current fiscal year.

In related news, Director Charles A. Kabbash acquired 2,400 shares of the business’s stock in a transaction that occurred on Monday, February 7th. The stock was bought at an average cost of $15.24 per share, for a total transaction of $36,576.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO George Cody Sheflett, Jr. bought 3,190 shares of the firm’s stock in a transaction on Tuesday, March 8th. The shares were purchased at an average price of $13.79 per share, for a total transaction of $43,990.10. The disclosure for this purchase can be found here. In the last three months, insiders have bought 40,031 shares of company stock valued at $557,326 and have sold 538 shares valued at $7,655. Insiders own 2.88% of the company’s stock.

A number of large investors have recently bought and sold shares of FRST. Wellington Management Group LLP boosted its stake in shares of Primis Financial by 25.6% in the third quarter. Wellington Management Group LLP now owns 1,555,306 shares of the company’s stock worth $22,490,000 after acquiring an additional 317,085 shares during the period. BlackRock Inc. lifted its holdings in Primis Financial by 0.6% in the 4th quarter. BlackRock Inc. now owns 1,395,726 shares of the company’s stock worth $20,992,000 after purchasing an additional 8,796 shares in the last quarter. Franklin Resources Inc. boosted its stake in Primis Financial by 10.6% in the 3rd quarter. Franklin Resources Inc. now owns 719,294 shares of the company’s stock worth $10,401,000 after purchasing an additional 69,073 shares during the period. Renaissance Technologies LLC grew its holdings in Primis Financial by 9.4% during the 3rd quarter. Renaissance Technologies LLC now owns 402,013 shares of the company’s stock valued at $5,813,000 after buying an additional 34,500 shares in the last quarter. Finally, State Street Corp increased its holdings in Primis Financial by 5.6% in the 4th quarter. State Street Corp now owns 389,763 shares of the company’s stock valued at $5,862,000 after acquiring an additional 20,569 shares during the last quarter. 67.90% of the stock is currently owned by institutional investors and hedge funds.

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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