Alliancebernstein L.P. Sells 169,260 Shares of Primis Financial Corp. (NASDAQ:FRST)

Alliancebernstein L.P. trimmed its position in shares of Primis Financial Corp. (NASDAQ:FRST - Free Report) by 47.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 187,462 shares of the company's stock after selling 169,260 shares during the period. Alliancebernstein L.P. owned about 0.76% of Primis Financial worth $2,186,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Barclays PLC lifted its stake in shares of Primis Financial by 243.8% in the 3rd quarter. Barclays PLC now owns 27,441 shares of the company's stock valued at $334,000 after purchasing an additional 19,460 shares during the period. Charles Schwab Investment Management Inc. increased its stake 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 worth $723,000 after acquiring an additional 2,708 shares in the last quarter. Rhumbline Advisers lifted its position in Primis Financial by 94.3% during the 4th quarter. Rhumbline Advisers now owns 70,869 shares of the company's stock valued at $826,000 after acquiring an additional 34,394 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Primis Financial by 120.0% during the third quarter. JPMorgan Chase & Co. now owns 71,112 shares of the company's stock valued at $866,000 after purchasing an additional 38,792 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake in Primis Financial by 12.8% during the fourth quarter. Victory Capital Management Inc. now owns 88,000 shares of the company's stock valued at $1,026,000 after buying an additional 10,000 shares during the last quarter. 74.96% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director John Fitzgerald Biagas purchased 10,000 shares of Primis Financial stock in a transaction on Wednesday, March 12th. The shares were bought at an average cost of $9.97 per share, for a total transaction of $99,700.00. Following the acquisition, the director now owns 88,469 shares in the company, valued at approximately $882,035.93. The trade was a 12.74 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders have bought 12,025 shares of company stock worth $122,058. Company insiders own 10.89% of the company's stock.

Primis Financial Stock Down 0.5 %

Shares of FRST traded down $0.04 on Friday, hitting $8.17. 51,532 shares of the stock traded hands, compared to its average volume of 71,093. The business has a 50 day simple moving average of $9.71 and a 200 day simple moving average of $11.04. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.86 and a current ratio of 0.99. Primis Financial Corp. has a one year low of $7.75 and a one year high of $13.52. The company has a market capitalization of $201.99 million, a PE ratio of -27.23 and a beta of 0.59.

Primis Financial (NASDAQ:FRST - Get Free Report) last announced its quarterly earnings results on Tuesday, January 28th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 fiscal year.

Primis Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were paid a dividend of $0.10 per share. The ex-dividend date was Wednesday, February 12th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.90%. Primis Financial's dividend payout ratio (DPR) is presently -133.33%.

Primis Financial 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.