SG Americas Securities LLC Acquires New Holdings in Primis Financial Corp. (NASDAQ:FRST)

SG Americas Securities LLC acquired a new stake in shares of Primis Financial Corp. (NASDAQ:FRST) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 11,033 shares of the company’s stock, valued at approximately $140,000.

A number of other institutional investors also recently added to or reduced their stakes in FRST. Citigroup Inc. boosted its holdings in Primis Financial by 112.1% in the third quarter. Citigroup Inc. now owns 45,619 shares of the company’s stock worth $372,000 after acquiring an additional 24,111 shares in the last quarter. Anchor Investment Management LLC acquired a new stake in Primis Financial in the fourth quarter worth about $127,000. ELCO Management Co. LLC boosted its holdings in Primis Financial by 77.0% in the third quarter. ELCO Management Co. LLC now owns 55,632 shares of the company’s stock worth $453,000 after acquiring an additional 24,210 shares in the last quarter. Susquehanna International Group LLP acquired a new stake in Primis Financial in the first quarter worth about $101,000. Finally, Tower Research Capital LLC TRC boosted its holdings in Primis Financial by 730.6% in the third quarter. Tower Research Capital LLC TRC now owns 10,382 shares of the company’s stock worth $85,000 after acquiring an additional 9,132 shares in the last quarter. Institutional investors own 74.96% of the company’s stock.

Primis Financial Stock Performance

Shares of NASDAQ:FRST opened at $10.60 on Wednesday. Primis Financial Corp. has a 52-week low of $7.01 and a 52-week high of $13.69. The stock has a market cap of $261.61 million, a price-to-earnings ratio of 12.33 and a beta of 0.73. The company has a quick ratio of 0.97, a current ratio of 0.99 and a debt-to-equity ratio of 0.25. The business has a 50-day moving average price of $11.95 and a 200-day moving average price of $11.11.

Primis Financial (NASDAQ:FRST) last announced its quarterly earnings data on Thursday, January 25th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.07. Primis Financial had a return on equity of 5.90% and a net margin of 8.73%. The firm had revenue of $39.24 million during the quarter, compared to analysts’ expectations of $36.17 million. Equities analysts predict that Primis Financial Corp. will post 1.57 EPS for the current year.

Primis Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Friday, February 9th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 3.77%. The ex-dividend date of this dividend was Thursday, February 8th. Primis Financial’s dividend payout ratio is currently 46.51%.

Analysts Set New Price Targets

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

Insider Activity at Primis Financial

In related news, Director Charles A. Kabbash purchased 3,390 shares of Primis Financial stock in a transaction that occurred on Tuesday, March 12th. The stock was bought at an average cost of $12.51 per share, for a total transaction of $42,408.90. Following the completion of the transaction, the director now owns 76,183 shares in the company, valued at $953,049.33. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders purchased 7,500 shares of company stock worth $91,631. 10.63% of the stock is owned by corporate insiders.

Primis Financial Company 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.