Cornercap Investment Counsel Inc. Has $228,000 Stake in Primis Financial Corp. (NASDAQ:FRST)

Cornercap Investment Counsel Inc. lowered its stake in Primis Financial Corp. (NASDAQ:FRST) by 51.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,725 shares of the company’s stock after selling 19,492 shares during the period. Cornercap Investment Counsel Inc. owned approximately 0.08% of Primis Financial worth $228,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Princeton Capital Management LLC acquired a new stake in shares of Primis Financial during the 2nd quarter worth approximately $105,000. Mackenzie Financial Corp acquired a new stake in Primis Financial in the 2nd quarter valued at about $106,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Primis Financial in the second quarter valued at approximately $144,000. AQR Capital Management LLC raised its stake in shares of Primis Financial by 55.1% during the second quarter. AQR Capital Management LLC now owns 19,097 shares of the company’s stock worth $200,000 after buying an additional 6,783 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Primis Financial by 4.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 33,693 shares of the company’s stock worth $411,000 after purchasing an additional 1,348 shares during the last quarter. Institutional investors own 74.96% of the company’s stock.

Primis Financial Stock Up 0.3 %

FRST stock opened at $12.20 on Tuesday. The company has a market cap of $301.58 million, a price-to-earnings ratio of 12.94 and a beta of 0.75. The company has a quick ratio of 0.98, a current ratio of 1.00 and a debt-to-equity ratio of 0.31. Primis Financial Corp. has a twelve month low of $9.52 and a twelve month high of $13.69. The business has a 50 day moving average price of $11.86 and a two-hundred day moving average price of $11.37.

Primis Financial (NASDAQ:FRST) last posted its earnings results on Thursday, October 24th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.35). The company had revenue of $66.40 million for the quarter. Primis Financial had a return on equity of 4.63% and a net margin of 7.31%. During the same period in the previous year, the company posted $0.32 EPS. Analysts anticipate that Primis Financial Corp. will post 0.5 EPS for the current fiscal year.

Primis Financial Announces Dividend

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

Analysts Set New Price Targets

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.

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.