Connor Clark & Lunn Investment Management Ltd. Buys 59,746 Shares of Primis Financial Corp. (NASDAQ:FRST)

Connor Clark & Lunn Investment Management Ltd. grew its stake in Primis Financial Corp. (NASDAQ:FRST - Free Report) by 91.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 125,028 shares of the company's stock after purchasing an additional 59,746 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.51% of Primis Financial worth $1,523,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of FRST. Jacobs Levy Equity Management Inc. lifted its position in Primis Financial by 103.9% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 124,757 shares of the company's stock worth $1,518,000 after buying an additional 63,582 shares in the last quarter. Inspire Investing LLC bought a new position in Primis Financial in the 3rd quarter worth approximately $828,000. Vanguard Group Inc. lifted its holdings in Primis Financial by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 1,107,530 shares of the company's stock worth $13,479,000 after buying an additional 7,312 shares in the last quarter. Panagora Asset Management Inc. increased its stake in shares of Primis Financial by 13.5% in the 2nd quarter. Panagora Asset Management Inc. now owns 70,578 shares of the company's stock valued at $740,000 after buying an additional 8,398 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Primis Financial by 4.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 33,693 shares of the company's stock worth $411,000 after acquiring an additional 1,348 shares during the last quarter. Institutional investors own 74.96% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Stephens reduced 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 Trading Down 0.7 %

Shares of Primis Financial stock traded down $0.09 during trading on Wednesday, reaching $12.50. 104,891 shares of the company were exchanged, compared to its average volume of 66,087. Primis Financial Corp. has a twelve month low of $9.52 and a twelve month high of $13.69. The business has a 50-day moving average price of $11.97 and a 200-day moving average price of $11.45. The company has a quick ratio of 0.98, a current ratio of 1.00 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $309 million, a price-to-earnings ratio of 13.56 and a beta of 0.75.

Primis Financial (NASDAQ:FRST - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The company reported $0.08 earnings per share for the quarter, missing analysts' consensus estimates of $0.43 by ($0.35). The firm had revenue of $66.40 million during the quarter. Primis Financial had a net margin of 7.31% and a return on equity of 4.65%. During the same quarter last year, the company earned $0.32 EPS. Sell-side analysts anticipate that Primis Financial Corp. will post 0.5 EPS for the current fiscal year.

Primis Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend 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.