GAMMA Investing LLC Boosts Stock Holdings in Primis Financial Corp. (NASDAQ:FRST)

GAMMA Investing LLC increased its position in shares of Primis Financial Corp. (NASDAQ:FRST) by 3,268.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,096 shares of the company’s stock after purchasing an additional 5,915 shares during the period. GAMMA Investing LLC’s holdings in Primis Financial were worth $624,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in FRST. PL Capital Advisors LLC increased its stake in shares of Primis Financial by 1,066.0% during the 4th quarter. PL Capital Advisors LLC now owns 5,541,310 shares of the company’s stock worth $64,612,000 after purchasing an additional 5,066,069 shares in the last quarter. Fourthstone LLC boosted its holdings in shares of Primis Financial by 263.3% in the 4th quarter. Fourthstone LLC now owns 898,014 shares of the company’s stock valued at $10,471,000 after purchasing an additional 650,820 shares during the last quarter. Mendon Capital Advisors Corp boosted its holdings in shares of Primis Financial by 11.3% in the 4th quarter. Mendon Capital Advisors Corp now owns 1,051,728 shares of the company’s stock valued at $12,263,000 after purchasing an additional 106,721 shares during the last quarter. Cary Street Partners Financial LLC acquired a new position in shares of Primis Financial in the 4th quarter valued at $778,000. Finally, Renaissance Technologies LLC boosted its holdings in shares of Primis Financial by 14.0% in the 4th quarter. Renaissance Technologies LLC now owns 389,513 shares of the company’s stock valued at $4,542,000 after purchasing an additional 47,900 shares during the last quarter. 74.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FRST has been the topic of several recent research reports. Maxim Group initiated coverage on shares of Primis Financial in a report on Monday, May 12th. They set a “buy” rating and a $1.00 target price on the stock. Wall Street Zen upgraded shares of Primis Financial from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd.

Primis Financial Price Performance

NASDAQ FRST opened at $9.91 on Thursday. The company has a 50-day moving average price of $9.06 and a two-hundred day moving average price of $10.23. Primis Financial Corp. has a 52 week low of $7.59 and a 52 week high of $13.52. The stock has a market cap of $244.98 million, a price-to-earnings ratio of -34.17 and a beta of 0.71. The company has a current ratio of 0.98, a quick ratio of 0.96 and a debt-to-equity ratio of 0.26.

Primis Financial (NASDAQ:FRST) last released its earnings results on Tuesday, April 29th. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.12). Primis Financial had a negative return on equity of 1.83% and a negative net margin of 2.94%. The firm had revenue of $32.53 million during the quarter, compared to analyst estimates of $26.90 million. Analysts forecast that Primis Financial Corp. will post 1.4 EPS for the current year.

Primis Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Wednesday, May 14th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.04%. Primis Financial’s dividend payout ratio is currently -137.93%.

Primis Financial 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.