Primis Financial Corp. $FRST Stake Boosted by Mendon Capital Advisors Corp

Mendon Capital Advisors Corp lifted its holdings in Primis Financial Corp. (NASDAQ:FRST) by 6.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,116,850 shares of the company’s stock after buying an additional 65,122 shares during the period. Primis Financial makes up 5.3% of Mendon Capital Advisors Corp’s holdings, making the stock its 3rd biggest position. Mendon Capital Advisors Corp’s holdings in Primis Financial were worth $10,912,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Curi RMB Capital LLC lifted its stake in shares of Primis Financial by 2.9% in the first quarter. Curi RMB Capital LLC now owns 893,536 shares of the company’s stock worth $8,730,000 after buying an additional 25,000 shares in the last quarter. Rhino Investment Partners Inc purchased a new position in shares of Primis Financial in the first quarter worth about $6,818,000. Goldman Sachs Group Inc. lifted its stake in shares of Primis Financial by 170.4% in the first 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 in the last quarter. Segall Bryant & Hamill LLC purchased a new position in shares of Primis Financial in the first quarter worth about $1,634,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Primis Financial by 7.4% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 155,206 shares of the company’s stock worth $1,516,000 after buying an additional 10,724 shares in the last quarter. 74.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of Primis Financial from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $7.50.

Primis Financial Price Performance

Shares of FRST stock opened at $10.96 on Wednesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.98 and a quick ratio of 0.95. The firm’s 50-day moving average is $11.28 and its two-hundred day moving average is $10.09. Primis Financial Corp. has a 12 month low of $7.59 and a 12 month high of $12.95. The company has a market capitalization of $270.05 million, a PE ratio of -121.78 and a beta of 0.82.

Primis Financial (NASDAQ:FRST) last issued its earnings results on Thursday, July 24th. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.13). Primis Financial had a negative return on equity of 2.02% and a negative net margin of 0.93%.The firm had revenue of $42.36 million for the quarter, compared to analysts’ expectations of $28.13 million. Analysts predict that Primis Financial Corp. will post 1.4 earnings per share for the current year.

Primis Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend was Friday, August 8th. Primis Financial’s payout ratio is -444.44%.

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.