Teton Advisors Inc. Sells 5,000 Shares of Primis Financial Corp. (NASDAQ:FRST)

Teton Advisors Inc. lowered its stake in Primis Financial Corp. (NASDAQ:FRST) by 25.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,000 shares of the company’s stock after selling 5,000 shares during the period. Teton Advisors Inc. owned approximately 0.06% of Primis Financial worth $190,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Anchor Investment Management LLC acquired a new stake in Primis Financial in the fourth quarter valued at about $127,000. SG Americas Securities LLC acquired a new stake in Primis Financial in the fourth quarter valued at about $140,000. Panagora Asset Management Inc. acquired a new stake in Primis Financial in the fourth quarter valued at about $275,000. Citigroup Inc. boosted its stake in Primis Financial by 112.1% in the third quarter. Citigroup Inc. now owns 45,619 shares of the company’s stock valued at $372,000 after buying an additional 24,111 shares in the last quarter. Finally, ELCO Management Co. LLC boosted its stake in Primis Financial by 77.0% in the third quarter. ELCO Management Co. LLC now owns 55,632 shares of the company’s stock valued at $453,000 after buying an additional 24,210 shares in the last quarter. 74.96% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Charles A. Kabbash purchased 3,390 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were purchased at an average cost of $12.51 per share, with a total value of $42,408.90. Following the completion of the purchase, the director now owns 76,183 shares of the company’s stock, valued at approximately $953,049.33. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last three months, insiders have bought 7,500 shares of company stock valued at $91,631. 11.08% of the stock is currently owned by corporate insiders.

Primis Financial Trading Up 3.3 %

Shares of FRST stock traded up $0.33 during mid-day trading on Thursday, reaching $10.31. 89,140 shares of the stock traded hands, compared to its average volume of 78,991. The stock’s fifty day simple moving average is $11.51 and its two-hundred day simple moving average is $11.28. Primis Financial Corp. has a 1-year low of $7.01 and a 1-year high of $13.69. The company has a market cap of $254.45 million, a price-to-earnings ratio of 11.99 and a beta of 0.78. The company has a quick ratio of 0.97, a current ratio of 0.99 and a debt-to-equity ratio of 0.25.

Primis Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date is Thursday, May 9th. Primis Financial’s payout ratio is 46.51%.

Analyst Upgrades and Downgrades

Separately, TheStreet raised Primis Financial from a “c” rating to a “b” rating in a research note on Friday, January 26th.

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.