Strs Ohio Grows Holdings in Primis Financial Corp. (NASDAQ:FRST)

Posted by Defense World Staff on Jan 19th, 2023

Strs Ohio grew its holdings in Primis Financial Corp. (NASDAQ:FRST – Get Rating) by 5.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 47,400 shares of the company’s stock after purchasing an additional 2,400 shares during the period. Strs Ohio owned about 0.19% of Primis Financial worth $574,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of FRST. American Century Companies Inc. increased its stake in Primis Financial by 28.8% in the first quarter. American Century Companies Inc. now owns 89,684 shares of the company’s stock worth $1,254,000 after purchasing an additional 20,032 shares during the period. MetLife Investment Management LLC increased its stake in Primis Financial by 54.8% in the first quarter. MetLife Investment Management LLC now owns 13,159 shares of the company’s stock worth $184,000 after purchasing an additional 4,656 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Primis Financial by 2.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,029,525 shares of the company’s stock worth $14,393,000 after buying an additional 26,515 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Primis Financial by 12.5% during the 1st quarter. Vanguard Group Inc. now owns 1,016,838 shares of the company’s stock worth $14,215,000 after buying an additional 112,657 shares in the last quarter. Finally, First Trust Advisors LP grew its position in shares of Primis Financial by 9.8% during the 1st quarter. First Trust Advisors LP now owns 12,518 shares of the company’s stock worth $175,000 after buying an additional 1,114 shares in the last quarter. Hedge funds and other institutional investors own 71.22% of the company’s stock.

Primis Financial Price Performance

FRST opened at $11.93 on Thursday. Primis Financial Corp. has a 12-month low of $11.66 and a 12-month high of $16.03. The company has a current ratio of 1.04, a quick ratio of 1.03 and a debt-to-equity ratio of 0.56. The business’s fifty day simple moving average is $12.09 and its 200-day simple moving average is $12.68. The company has a market capitalization of $294.24 million, a price-to-earnings ratio of 13.26 and a beta of 0.79.

Primis Financial (NASDAQ:FRST – Get Rating) last issued its quarterly earnings data on Thursday, October 27th. The company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.06). Primis Financial had a net margin of 17.21% and a return on equity of 5.78%. The company had revenue of $33.07 million for the quarter, compared to the consensus estimate of $28.70 million. On average, equities research analysts anticipate that Primis Financial Corp. will post 0.94 earnings per share for the current fiscal year.

Primis Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 28th. Investors of record on Monday, November 14th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date was Thursday, November 10th. Primis Financial’s payout ratio is currently 44.44%.

Analyst Ratings Changes

Separately, Piper Sandler started coverage on Primis Financial in a research report on Monday, December 5th. They set a “neutral” rating and a $13.00 price target on the stock.

Insider Activity at Primis Financial

In related news, EVP Marie Taylor Leibson acquired 4,000 shares of the company’s stock in a transaction that occurred on Monday, November 28th. The shares were bought at an average price of $9.14 per share, with a total value of $36,560.00. Following the completion of the transaction, the executive vice president now directly owns 51,379 shares in the company, valued at $469,604.06. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 10.63% of the stock is owned by corporate insiders.

Primis Financial Profile

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Primis Financial Corp. is a holding company, which engages in the provision of financial services through its subsidiary Sonabank. The firm focuses on making loans secured primarily by commercial real estate and other types of secured and unsecured commercial loans to small and medium-sized businesses in a number of industries, as well as loans to individuals for a variety of purposes.