Tower Research Capital LLC TRC Sells 5,603 Shares of Primis Financial Corp. (NASDAQ:FRST)

Tower Research Capital LLC TRC reduced its stake in Primis Financial Corp. (NASDAQ:FRST) by 54.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,779 shares of the company’s stock after selling 5,603 shares during the period. Tower Research Capital LLC TRC’s holdings in Primis Financial were worth $61,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Hillsdale Investment Management Inc. purchased a new position in Primis Financial in the 4th quarter worth approximately $1,153,000. Boston Partners raised its stake in shares of Primis Financial by 35.7% in the fourth quarter. Boston Partners now owns 227,219 shares of the company’s stock worth $2,877,000 after purchasing an additional 59,728 shares during the last quarter. ELCO Management Co. LLC lifted its holdings in shares of Primis Financial by 77.0% during the third quarter. ELCO Management Co. LLC now owns 55,632 shares of the company’s stock valued at $453,000 after purchasing an additional 24,210 shares in the last quarter. Citigroup Inc. boosted its position in shares of Primis Financial by 112.1% during 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 during the last quarter. Finally, Panagora Asset Management Inc. purchased a new stake in shares of Primis Financial during the fourth quarter valued at $275,000. 74.96% of the stock is currently owned by institutional investors.

Insider Activity at Primis Financial

In other Primis Financial news, Director Charles A. Kabbash purchased 3,390 shares of Primis Financial stock in a transaction dated Tuesday, March 12th. The stock was purchased at an average price of $12.51 per share, with a total value of $42,408.90. Following the transaction, the director now directly owns 76,183 shares of the company’s stock, valued at $953,049.33. The purchase was disclosed in a document filed with the SEC, which is available through this link. Over the last 90 days, insiders bought 7,500 shares of company stock worth $91,631. 10.63% of the stock is owned by insiders.

Primis Financial Stock Performance

Shares of FRST traded down $0.08 during mid-day trading on Monday, hitting $10.09. 83,449 shares of the company traded hands, compared to its average volume of 78,634. The stock has a market cap of $249.02 million, a price-to-earnings ratio of 11.73 and a beta of 0.73. The stock has a 50-day moving average price of $11.62 and a two-hundred day moving average price of $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 debt-to-equity ratio of 0.25, a quick ratio of 0.97 and a current ratio of 0.99.

Primis Financial (NASDAQ:FRST) last announced its earnings results on Thursday, January 25th. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.07. The business had revenue of $39.24 million during the quarter, compared to analyst estimates of $36.17 million. Primis Financial had a net margin of 8.73% and a return on equity of 5.90%. Equities analysts anticipate that Primis Financial Corp. will post 1.57 earnings per share for the current year.

Primis Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date of this dividend is Thursday, May 9th. Primis Financial’s dividend payout ratio (DPR) is presently 46.51%.

Wall Street Analysts Forecast Growth

Separately, TheStreet upgraded shares of 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.