Foundry Partners LLC Raises Stock Position in Primis Financial Corp. (NASDAQ:FRST)

Foundry Partners LLC raised its stake in shares of Primis Financial Corp. (NASDAQ:FRST - Free Report) by 14.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 393,575 shares of the company's stock after purchasing an additional 49,735 shares during the period. Foundry Partners LLC owned 1.59% of Primis Financial worth $4,794,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FRST. Princeton Capital Management LLC purchased a new stake in Primis Financial in the 2nd quarter worth $105,000. Mackenzie Financial Corp bought a new position in Primis Financial during the second quarter valued at approximately $106,000. Northwestern Mutual Wealth Management Co. purchased a new position in Primis Financial during the 2nd quarter valued at approximately $144,000. AQR Capital Management LLC raised its holdings in shares of Primis Financial by 55.1% during the 2nd quarter. AQR Capital Management LLC now owns 19,097 shares of the company's stock worth $200,000 after acquiring an additional 6,783 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Primis Financial by 4.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 33,693 shares of the company's stock valued at $411,000 after acquiring an additional 1,348 shares during the last quarter. 74.96% of the stock is owned by hedge funds and other institutional investors.

Primis Financial Trading Up 1.8 %

NASDAQ:FRST traded up $0.22 during mid-day trading on Friday, hitting $12.63. 51,251 shares of the stock traded hands, compared to its average volume of 65,807. The firm's 50 day moving average is $11.94 and its two-hundred day moving average is $11.41. The stock has a market capitalization of $312.21 million, a price-to-earnings ratio of 13.01 and a beta of 0.75. The company has a quick ratio of 0.98, a current ratio of 1.00 and a debt-to-equity ratio of 0.31. Primis Financial Corp. has a 52 week low of $9.52 and a 52 week high of $13.69.

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

Primis Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.40 annualized dividend and a dividend yield of 3.17%.

Analysts Set New Price Targets

Separately, Stephens dropped their price objective on shares of Primis Financial from $16.00 to $14.00 and set an "overweight" rating for the company in a research note on Wednesday, October 30th.

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.