Outfitter Financial LLC Decreases Position in Primis Financial Corp. (NASDAQ:FRST)

Outfitter Financial LLC reduced its stake in Primis Financial Corp. (NASDAQ:FRST) by 11.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 86,270 shares of the company’s stock after selling 11,110 shares during the period. Outfitter Financial LLC’s holdings in Primis Financial were worth $1,006,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Rhumbline Advisers grew its position in shares of Primis Financial by 94.3% in the 4th quarter. Rhumbline Advisers now owns 70,869 shares of the company’s stock valued at $826,000 after buying an additional 34,394 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Primis Financial by 120.0% during the third quarter. JPMorgan Chase & Co. now owns 71,112 shares of the company’s stock worth $866,000 after purchasing an additional 38,792 shares in the last quarter. Barclays PLC lifted its holdings in shares of Primis Financial by 243.8% in 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 last quarter. Geode Capital Management LLC boosted its position in shares of Primis Financial by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 466,212 shares of the company’s stock valued at $5,679,000 after purchasing an additional 10,656 shares during the period. Finally, State Street Corp increased its position in Primis Financial by 2.6% during the third quarter. State Street Corp now owns 423,407 shares of the company’s stock worth $5,157,000 after buying an additional 10,923 shares during the period. Institutional investors and hedge funds own 74.96% of the company’s stock.

Primis Financial Price Performance

Shares of NASDAQ:FRST opened at $10.83 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.99 and a debt-to-equity ratio of 0.24. Primis Financial Corp. has a one year low of $9.52 and a one year high of $13.52. The company has a 50-day simple moving average of $11.32 and a 200-day simple moving average of $11.71.

Primis Financial (NASDAQ:FRST) last posted its quarterly earnings data on Tuesday, January 28th. The company reported ($0.65) earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.76). Primis Financial had a negative return on equity of 2.05% and a negative net margin of 2.97%. As a group, equities research analysts forecast that Primis Financial Corp. will post 1.4 EPS for the current year.

Primis Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th will be given a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $0.40 dividend on an annualized basis and a yield of 3.69%. Primis Financial’s dividend payout ratio (DPR) is -133.33%.

Wall Street Analysts Forecast Growth

Separately, Stephens cut their target price on shares of Primis Financial from $16.00 to $14.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th.

Insider Buying and Selling at Primis Financial

In other news, Director F L. Garrett III bought 3,660 shares of Primis Financial stock in a transaction dated Friday, December 13th. The stock was bought at an average price of $12.32 per share, for a total transaction of $45,091.20. Following the purchase, the director now owns 41,169 shares of the company’s stock, valued at approximately $507,202.08. The trade was a 9.76 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last three months, insiders have bought 5,685 shares of company stock valued at $67,449. 10.89% of the stock is owned by company insiders.

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.