Primis Financial Corp. (NASDAQ:FRST) is Banc Funds Co. LLC’s 8th Largest Position

Banc Funds Co. LLC cut its position in Primis Financial Corp. (NASDAQ:FRST) by 0.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,713,963 shares of the company’s stock after selling 6,400 shares during the quarter. Primis Financial comprises 2.3% of Banc Funds Co. LLC’s investment portfolio, making the stock its 8th biggest position. Banc Funds Co. LLC owned about 6.93% of Primis Financial worth $20,876,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Fourthstone LLC increased its holdings in shares of Primis Financial by 271.5% in the third 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. De Lisle Partners LLP increased its stake in Primis Financial by 109.5% in the 3rd quarter. De Lisle Partners LLP now owns 21,016 shares of the company’s stock worth $256,000 after acquiring an additional 10,986 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Primis Financial by 4.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 59,324 shares of the company’s stock valued at $723,000 after acquiring an additional 2,708 shares in the last quarter. Foundry Partners LLC boosted its position in shares of Primis Financial by 14.5% during the 3rd quarter. Foundry Partners LLC now owns 393,575 shares of the company’s stock valued at $4,794,000 after acquiring an additional 49,735 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Primis Financial by 91.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 125,028 shares of the company’s stock worth $1,523,000 after purchasing an additional 59,746 shares in the last quarter. 74.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Primis Financial Stock Performance

NASDAQ FRST opened at $12.50 on Monday. Primis Financial Corp. has a 52-week low of $9.52 and a 52-week high of $13.69. The company has a fifty day moving average of $11.98 and a 200-day moving average of $11.48. The company has a market capitalization of $309.04 million, a P/E ratio of 13.30 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.

Primis Financial (NASDAQ:FRST) last issued its quarterly earnings results on Thursday, October 24th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.35). The firm had revenue of $66.40 million for the quarter. Primis Financial had a return on equity of 4.65% and a net margin of 7.31%. During the same period in the prior year, the business posted $0.32 earnings per share. As a group, equities research analysts predict that Primis Financial Corp. will post 0.5 EPS for the current fiscal year.

Primis Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 3.20%. The ex-dividend date was 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.