Fourthstone LLC Has $3.01 Million Stock Holdings in Primis Financial Corp. (NASDAQ:FRST)

Fourthstone LLC raised its stake in shares of Primis Financial Corp. (NASDAQ:FRST) by 271.5% during the third quarter, Holdings Channel reports. The firm owned 247,194 shares of the company’s stock after buying an additional 180,655 shares during the period. Primis Financial comprises 0.7% of Fourthstone LLC’s holdings, making the stock its 26th biggest holding. Fourthstone LLC’s holdings in Primis Financial were worth $3,011,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Princeton Capital Management LLC bought a new stake in Primis Financial in the second quarter valued at $105,000. Mackenzie Financial Corp acquired a new stake in Primis Financial during the 2nd quarter valued at $106,000. Northwestern Mutual Wealth Management Co. bought a new position in Primis Financial in the 2nd quarter valued at $144,000. AQR Capital Management LLC grew 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 worth $200,000 after purchasing an additional 6,783 shares during the last quarter. Finally, De Lisle Partners LLP increased its stake in shares of Primis Financial by 109.5% in the third quarter. De Lisle Partners LLP now owns 21,016 shares of the company’s stock valued at $256,000 after buying an additional 10,986 shares in the last quarter. 74.96% of the stock is currently owned by institutional investors.

Primis Financial Trading Down 0.7 %

NASDAQ FRST traded down $0.09 during trading on Thursday, reaching $12.50. 104,891 shares of the stock traded hands, compared to its average volume of 66,425. The stock’s 50-day moving average price is $11.97 and its 200 day moving average price is $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 cap of $309 million, a price-to-earnings ratio of 13.56 and a beta of 0.75. Primis Financial Corp. has a fifty-two week low of $9.52 and a fifty-two week high of $13.69.

Primis Financial (NASDAQ:FRST) last released its quarterly earnings data on Thursday, October 24th. The company reported $0.08 EPS 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 period in the prior year, the company posted $0.32 EPS. Analysts predict that Primis Financial Corp. will post 0.5 EPS for the current year.

Primis Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date was Friday, November 8th.

Analyst Ratings Changes

Separately, Stephens lowered 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 report 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.