Outfitter Financial LLC Trims Stock Holdings in Primis Financial Corp. (NASDAQ:FRST)

Outfitter Financial LLC lowered its stake in Primis Financial Corp. (NASDAQ:FRST) by 11.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 86,270 shares of the company’s stock after selling 11,110 shares during the quarter. Outfitter Financial LLC owned about 0.35% of Primis Financial worth $1,006,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. De Lisle Partners LLP lifted its holdings in shares of 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. Barclays PLC lifted its stake in 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 purchasing an additional 19,460 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Primis Financial by 4.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 59,324 shares of the company’s stock worth $723,000 after purchasing an additional 2,708 shares in the last quarter. Rhumbline Advisers boosted its position in shares of Primis Financial by 94.3% during the fourth quarter. Rhumbline Advisers now owns 70,869 shares of the company’s stock worth $826,000 after buying an additional 34,394 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in shares of Primis Financial by 120.0% in the third quarter. JPMorgan Chase & Co. now owns 71,112 shares of the company’s stock valued at $866,000 after buying an additional 38,792 shares in the last quarter. Hedge funds and other institutional investors own 74.96% of the company’s stock.

Primis Financial Trading Down 1.2 %

NASDAQ FRST opened at $10.83 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.99 and a quick ratio of 0.86. The firm has a 50 day simple moving average of $11.32 and a 200-day simple moving average of $11.71. Primis Financial Corp. has a one year low of $9.52 and a one year high of $13.52.

Primis Financial (NASDAQ:FRST) last issued its quarterly earnings results on Tuesday, January 28th. The company reported ($0.65) EPS for the quarter, missing the consensus estimate of $0.11 by ($0.76). Primis Financial had a negative net margin of 2.97% and a negative return on equity of 2.05%. As a group, equities analysts forecast that Primis Financial Corp. will post 1.4 earnings per share for the current year.

Primis Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th will be paid a dividend of $0.10 per share. The ex-dividend date is Wednesday, February 12th. This represents a $0.40 annualized dividend and a yield of 3.69%. Primis Financial’s payout ratio is -133.33%.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other news, Director F L. Garrett III acquired 3,660 shares of the company’s stock in a transaction on Friday, December 13th. The shares were bought at an average cost of $12.32 per share, with a total value of $45,091.20. Following the transaction, the director now owns 41,169 shares in the company, valued at approximately $507,202.08. This trade represents a 9.76 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have purchased a total of 5,685 shares of company stock worth $67,449 in the last quarter. 10.89% of the stock is owned by company insiders.

About Primis Financial

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.