Maltese Capital Management LLC Acquires 39,582 Shares of Primis Financial Corp. $FRST

Maltese Capital Management LLC increased its holdings in shares of Primis Financial Corp. (NASDAQ:FRST) by 4.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,026,500 shares of the company’s stock after buying an additional 39,582 shares during the period. Primis Financial comprises approximately 2.5% of Maltese Capital Management LLC’s portfolio, making the stock its 6th largest position. Maltese Capital Management LLC owned 4.17% of Primis Financial worth $14,279,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. North Reef Capital Management LP acquired a new stake in Primis Financial during the 3rd quarter worth approximately $10,246,000. Goldman Sachs Group Inc. boosted its position in Primis Financial by 170.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 248,639 shares of the company’s stock worth $2,429,000 after buying an additional 156,703 shares during the period. Marshall Wace LLP acquired a new position in shares of Primis Financial in the 4th quarter worth approximately $923,000. Martingale Asset Management L P acquired a new position in shares of Primis Financial in the 4th quarter worth approximately $734,000. Finally, Empowered Funds LLC lifted its position in shares of Primis Financial by 5.0% in the 4th quarter. Empowered Funds LLC now owns 42,768 shares of the company’s stock worth $595,000 after purchasing an additional 2,018 shares during the period. 74.96% of the stock is currently owned by institutional investors and hedge funds.

Primis Financial Stock Down 2.5%

Primis Financial stock opened at $15.35 on Tuesday. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 0.16. Primis Financial Corp. has a 12-month low of $9.55 and a 12-month high of $15.89. The firm’s fifty day moving average is $14.36 and its 200 day moving average is $13.61. The company has a market capitalization of $380.22 million, a PE ratio of 7.24 and a beta of 0.75.

Primis Financial (NASDAQ:FRST) last released its earnings results on Thursday, April 23rd. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. Primis Financial had a net margin of 19.71% and a return on equity of 4.98%. The company had revenue of $45.63 million for the quarter, compared to the consensus estimate of $43.87 million. As a group, sell-side analysts predict that Primis Financial Corp. will post 1.57 EPS for the current fiscal year.

Primis Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 8th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date was Friday, May 8th. Primis Financial’s payout ratio is presently 18.87%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on FRST. Keefe, Bruyette & Woods began coverage on shares of Primis Financial in a research report on Monday, April 20th. They issued an “outperform” rating and a $17.00 price target on the stock. Weiss Ratings upgraded shares of Primis Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 4th. Finally, Wall Street Zen downgraded shares of Primis Financial from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, Primis Financial has an average rating of “Moderate Buy” and a consensus price target of $17.00.

Primis Financial Company Profile

Primis Financial Corporation is a bank holding company headquartered in Waycross, Georgia, operating through its wholly owned subsidiary, Primis Bank. The company offers a full suite of commercial and retail banking services tailored to meet the needs of individuals, small businesses, and agricultural clients across its service area. Primis Bank focuses on building relationships within the communities it serves, positioning itself as a local financial partner for deposit-taking, lending, and treasury management solutions.

Primis Bank maintains a network of branch offices throughout southeastern Georgia, serving a combination of rural and suburban markets.