Primis Financial Corp. (NASDAQ:FRST) Stock Holdings Lowered by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. reduced its holdings in Primis Financial Corp. (NASDAQ:FRST) by 43.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,765 shares of the company’s stock after selling 8,408 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Primis Financial were worth $105,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in FRST. Fourthstone LLC raised 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 worth $10,471,000 after purchasing an additional 650,820 shares in the last quarter. Mendon Capital Advisors Corp raised 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 worth $12,263,000 after purchasing an additional 106,721 shares in the last quarter. Cary Street Partners Financial LLC bought a new stake in shares of Primis Financial in the 4th quarter worth approximately $778,000. Renaissance Technologies LLC raised 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 worth $4,542,000 after purchasing an additional 47,900 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Primis Financial by 2.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,160,127 shares of the company’s stock worth $13,527,000 after purchasing an additional 28,930 shares in the last quarter. 74.96% of the stock is currently owned by institutional investors.

Primis Financial Stock Performance

Primis Financial stock opened at $11.40 on Tuesday. The firm’s 50 day simple moving average is $9.92 and its 200-day simple moving average is $10.04. The company has a market cap of $281.84 million, a P/E ratio of -39.31 and a beta of 0.74. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.98 and a quick ratio of 0.96. Primis Financial Corp. has a fifty-two week low of $7.59 and a fifty-two week high of $13.52.

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 the consensus estimate of $0.26 by ($0.12). The firm had revenue of $32.53 million during the quarter, compared to analysts’ expectations of $26.90 million. Primis Financial had a negative return on equity of 1.83% and a negative net margin of 2.94%. As a group, equities research analysts predict that Primis Financial Corp. will post 1.4 EPS for the current year.

Primis Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 3.51%. The ex-dividend date was Wednesday, May 14th. Primis Financial’s dividend payout ratio is currently -137.93%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Maxim Group assumed coverage on shares of Primis Financial in a report on Monday, May 12th. They issued a “buy” rating and a $1.00 target price on the stock. Wall Street Zen raised shares of Primis Financial from a “sell” rating to a “hold” rating in a research report on Thursday, May 22nd.

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.