State Board of Administration of Florida Retirement System Invests $123,000 in Primis Financial Corp. (NASDAQ:FRST)

State Board of Administration of Florida Retirement System purchased a new position in Primis Financial Corp. (NASDAQ:FRST – Get Rating) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 10,341 shares of the company’s stock, valued at approximately $123,000.

A number of other large investors have also recently made changes to their positions in FRST. Penn Capital Management Company LLC bought a new stake in shares of Primis Financial in the third quarter worth approximately $1,484,000. Vanguard Group Inc. grew its position in Primis Financial by 12.5% during the first quarter. Vanguard Group Inc. now owns 1,016,838 shares of the company’s stock valued at $14,215,000 after buying an additional 112,657 shares during the period. Fourthstone LLC grew its position in Primis Financial by 309.9% during the first quarter. Fourthstone LLC now owns 134,203 shares of the company’s stock valued at $1,876,000 after buying an additional 101,466 shares during the period. JPMorgan Chase & Co. grew its position in Primis Financial by 337.9% during the second quarter. JPMorgan Chase & Co. now owns 84,598 shares of the company’s stock valued at $1,152,000 after buying an additional 65,278 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Primis Financial by 4.8% during the third quarter. Dimensional Fund Advisors LP now owns 1,146,388 shares of the company’s stock valued at $13,906,000 after buying an additional 52,172 shares during the period. 71.22% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Primis Financial

In other news, CFO Matthew Alan Switzer acquired 10,000 shares of the business’s stock in a transaction dated Wednesday, March 15th. The stock was purchased at an average price of $10.02 per share, for a total transaction of $100,200.00. Following the completion of the transaction, the chief financial officer now directly owns 89,226 shares in the company, valued at approximately $894,044.52. The acquisition was disclosed in a filing with the SEC, which is available through this link. In the last ninety days, insiders have purchased 27,702 shares of company stock worth $260,622. Insiders own 10.63% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on FRST shares. Stephens initiated coverage on shares of Primis Financial in a research report on Monday, April 3rd. They set an “overweight” rating and a $13.00 target price for the company. Piper Sandler upgraded shares of Primis Financial from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $13.00 to $14.00 in a research report on Wednesday, February 1st.

Primis Financial Stock Up 2.4 %

NASDAQ FRST opened at $7.60 on Wednesday. Primis Financial Corp. has a 12 month low of $7.01 and a 12 month high of $14.41. The company has a current ratio of 1.00, a quick ratio of 0.98 and a debt-to-equity ratio of 0.24. The stock has a market cap of $187.57 million, a PE ratio of 10.13 and a beta of 0.76. The stock’s 50 day moving average is $8.87 and its 200 day moving average is $10.86.

Primis Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 26th. Investors of record on Friday, May 12th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, May 11th. This represents a $0.40 annualized dividend and a yield of 5.26%. Primis Financial’s payout ratio is 53.33%.

Primis Financial Company Profile

(Get Rating)

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.