Primis Financial Corp. (NASDAQ:FRST) Short Interest Down 10.8% in November

Primis Financial Corp. (NASDAQ:FRST - Get Free Report) was the target of a significant decline in short interest during the month of November. As of November 30th, there was short interest totalling 80,400 shares, a decline of 10.8% from the November 15th total of 90,100 shares. Currently, 0.4% of the shares of the stock are sold short. Based on an average daily trading volume, of 65,000 shares, the days-to-cover ratio is presently 1.2 days.

Insider Activity at Primis Financial

In related news, Director F L. Garrett III acquired 3,660 shares of the stock in a transaction dated Friday, December 13th. The stock was bought at an average cost of $12.32 per share, for a total transaction of $45,091.20. Following the completion of the transaction, the director now directly owns 41,169 shares of the company's stock, valued at $507,202.08. The trade was a 9.76 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 10.89% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FRST. Princeton Capital Management LLC acquired a new position in shares of Primis Financial in the 2nd quarter valued at approximately $105,000. Mackenzie Financial Corp bought a new position in Primis Financial during the second quarter valued at about $106,000. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Primis Financial during the second quarter valued at $144,000. AQR Capital Management LLC lifted its holdings in shares of Primis Financial by 55.1% during the second quarter. AQR Capital Management LLC now owns 19,097 shares of the company's stock valued at $200,000 after purchasing an additional 6,783 shares during the last quarter. Finally, De Lisle Partners LLP lifted its stake in 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 in the last quarter. Hedge funds and other institutional investors own 74.96% of the company's stock.

Primis Financial Stock Performance

Shares of NASDAQ FRST traded down $0.22 during trading on Tuesday, reaching $12.24. 61,464 shares of the company traded hands, compared to its average volume of 65,937. Primis Financial has a 12-month low of $9.52 and a 12-month high of $13.69. The company has a current ratio of 0.99, a quick ratio of 0.98 and a debt-to-equity ratio of 0.24. The stock has a market cap of $302.57 million, a P/E ratio of 13.24 and a beta of 0.78. The firm's fifty day simple moving average is $12.10 and its 200 day simple moving average is $11.63.

Primis Financial (NASDAQ:FRST - Get Free Report) last released its 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 business had revenue of $66.40 million during the quarter. Primis Financial had a return on equity of 3.28% and a net margin of 6.00%. During the same quarter last year, the business earned $0.32 earnings per share. As a group, research analysts anticipate that Primis Financial will post 0.5 earnings per share for the current fiscal year.

Primis Financial Dividend Announcement

The company also recently disclosed 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 3.27%. The ex-dividend date was Friday, November 8th.

Analysts Set New Price Targets

Separately, Stephens lowered their target price on 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 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.

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