Geode Capital Management LLC Sells 30,163 Shares of Primis Financial Corp. (NASDAQ:FRST)

Geode Capital Management LLC lowered its stake in Primis Financial Corp. (NASDAQ:FRST - Free Report) by 6.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 436,049 shares of the company's stock after selling 30,163 shares during the quarter. Geode Capital Management LLC owned 1.76% of Primis Financial worth $5,085,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. State Street Corp grew its holdings in shares of Primis Financial by 2.6% in the third quarter. State Street Corp now owns 423,407 shares of the company's stock worth $5,157,000 after acquiring an additional 10,923 shares during the period. Barclays PLC grew its stake in shares of Primis Financial by 243.8% during 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. JPMorgan Chase & Co. lifted its stake in shares of Primis Financial by 120.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 71,112 shares of the company's stock worth $866,000 after purchasing an additional 38,792 shares during the period. Rhumbline Advisers boosted its holdings in shares of Primis Financial by 94.3% in 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 last quarter. Finally, PL Capital Advisors LLC grew its position in Primis Financial by 1,066.0% during the fourth quarter. PL Capital Advisors LLC now owns 5,541,310 shares of the company's stock valued at $64,612,000 after buying an additional 5,066,069 shares during the period. Hedge funds and other institutional investors own 74.96% of the company's stock.

Insider Activity

In other news, Director John Fitzgerald Biagas acquired 10,000 shares of the business's stock in a transaction dated Wednesday, March 12th. The stock was purchased at an average price of $9.97 per share, for a total transaction of $99,700.00. Following the completion of the transaction, the director now directly owns 88,469 shares in the company, valued at approximately $882,035.93. This trade represents a 12.74 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have bought 12,025 shares of company stock worth $122,058 in the last three months. Company insiders own 10.89% of the company's stock.

Primis Financial Stock Performance

Shares of FRST stock traded down $0.06 during mid-day trading on Tuesday, reaching $8.34. 56,314 shares of the company's stock traded hands, compared to its average volume of 71,102. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.86 and a current ratio of 0.99. The firm has a market capitalization of $206.19 million, a PE ratio of -27.80 and a beta of 0.59. Primis Financial Corp. has a 12 month low of $7.75 and a 12 month high of $13.52. The firm has a 50 day moving average price of $9.40 and a two-hundred day moving average price of $10.90.

Primis Financial (NASDAQ:FRST - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $0.14 EPS for the quarter, missing analysts' consensus estimates of $0.26 by ($0.12). Primis Financial had a negative return on equity of 2.05% and a negative net margin of 2.97%. On average, research analysts forecast that Primis Financial Corp. will post 1.4 EPS for the current year.

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.