Primis Financial Corp. (NASDAQ:FRST) Short Interest Update

Primis Financial Corp. (NASDAQ:FRST) was the target of a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 81,000 shares, an increase of 5.2% from the October 15th total of 77,000 shares. Approximately 0.4% of the company’s shares are sold short. Based on an average daily volume of 57,400 shares, the short-interest ratio is presently 1.4 days.

Wall Street Analysts Forecast Growth

Separately, Stephens lowered their price target on Primis Financial from $16.00 to $14.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th.

Hedge Funds Weigh In On Primis Financial

Several institutional investors and hedge funds have recently modified their holdings of FRST. Geode Capital Management LLC raised its holdings in Primis Financial by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 466,212 shares of the company’s stock worth $5,679,000 after buying an additional 10,656 shares during the period. Barclays PLC raised its holdings in shares of Primis Financial by 243.8% during the third quarter. Barclays PLC now owns 27,441 shares of the company’s stock worth $334,000 after acquiring an additional 19,460 shares during the period. State Street Corp lifted its position in Primis Financial by 2.6% in the 3rd quarter. State Street Corp now owns 423,407 shares of the company’s stock valued at $5,157,000 after acquiring an additional 10,923 shares in the last quarter. Fourthstone LLC boosted its stake in Primis Financial by 271.5% in the 3rd quarter. Fourthstone LLC now owns 247,194 shares of the company’s stock worth $3,011,000 after purchasing an additional 180,655 shares during the period. Finally, De Lisle Partners LLP increased its holdings in Primis Financial by 109.5% during the 3rd quarter. De Lisle Partners LLP now owns 21,016 shares of the company’s stock worth $256,000 after purchasing an additional 10,986 shares in the last quarter. 74.96% of the stock is currently owned by institutional investors and hedge funds.

Primis Financial Trading Up 0.3 %

FRST opened at $12.20 on Tuesday. Primis Financial has a twelve month low of $9.52 and a twelve month high of $13.69. The firm has a market cap of $301.58 million, a PE ratio of 12.94 and a beta of 0.75. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.98 and a current ratio of 1.00. The firm’s fifty day moving average is $11.86 and its two-hundred day moving average is $11.37.

Primis Financial (NASDAQ:FRST) last issued its quarterly earnings data on Thursday, October 24th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.35). Primis Financial had a return on equity of 4.63% and a net margin of 7.31%. The business had revenue of $66.40 million for the quarter. During the same quarter in the previous year, the firm earned $0.32 earnings per share. Equities research analysts anticipate that Primis Financial will post 0.5 EPS for the current year.

Primis Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 3.28%. The ex-dividend date is Friday, November 8th.

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.