Maltese Capital Management LLC Buys 39,582 Shares of Primis Financial Corp. $FRST

Maltese Capital Management LLC lifted its stake in shares of Primis Financial Corp. (NASDAQ:FRST) by 4.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,026,500 shares of the company’s stock after acquiring an additional 39,582 shares during the period. Primis Financial accounts for about 2.5% of Maltese Capital Management LLC’s portfolio, making the stock its 6th largest position. Maltese Capital Management LLC’s holdings in Primis Financial were worth $14,279,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. PNC Financial Services Group Inc. increased its stake in Primis Financial by 27.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 5,786 shares of the company’s stock valued at $61,000 after purchasing an additional 1,231 shares in the last quarter. First Trust Advisors LP increased its stake in Primis Financial by 8.6% during the 2nd quarter. First Trust Advisors LP now owns 16,623 shares of the company’s stock valued at $180,000 after purchasing an additional 1,313 shares in the last quarter. Barclays PLC increased its stake in Primis Financial by 4.2% during the 4th quarter. Barclays PLC now owns 32,660 shares of the company’s stock valued at $454,000 after purchasing an additional 1,331 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Primis Financial by 11.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,072 shares of the company’s stock valued at $128,000 after purchasing an additional 1,370 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its stake in Primis Financial by 290.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,345 shares of the company’s stock valued at $25,000 after purchasing an additional 1,744 shares in the last quarter. Institutional investors own 74.96% of the company’s stock.

Primis Financial Price Performance

Shares of NASDAQ:FRST opened at $15.35 on Tuesday. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 0.16. The stock’s fifty day simple moving average is $14.36 and its two-hundred day simple moving average is $13.61. Primis Financial Corp. has a 1-year low of $9.55 and a 1-year high of $15.89. The stock has a market cap of $380.22 million, a PE ratio of 7.24 and a beta of 0.75.

Primis Financial (NASDAQ:FRST) last posted its earnings results on Thursday, April 23rd. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.01. Primis Financial had a net margin of 19.71% and a return on equity of 4.98%. The firm had revenue of $45.63 million during the quarter, compared to analyst estimates of $43.87 million. As a group, analysts forecast that Primis Financial Corp. will post 1.57 EPS for the current fiscal year.

Primis Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Friday, May 8th were paid a $0.10 dividend. The ex-dividend date was Friday, May 8th. This represents a $0.40 annualized dividend and a dividend yield of 2.6%. Primis Financial’s dividend payout ratio is presently 18.87%.

Wall Street Analyst Weigh In

FRST has been the subject of a number of recent research reports. Weiss Ratings upgraded shares of Primis Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 4th. Keefe, Bruyette & Woods initiated coverage on shares of Primis Financial in a research note on Monday, April 20th. They set an “outperform” rating and a $17.00 price target for the company. Finally, Wall Street Zen lowered shares of Primis Financial from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.00.

About Primis Financial

Primis Financial Corporation is a bank holding company headquartered in Waycross, Georgia, operating through its wholly owned subsidiary, Primis Bank. The company offers a full suite of commercial and retail banking services tailored to meet the needs of individuals, small businesses, and agricultural clients across its service area. Primis Bank focuses on building relationships within the communities it serves, positioning itself as a local financial partner for deposit-taking, lending, and treasury management solutions.

Primis Bank maintains a network of branch offices throughout southeastern Georgia, serving a combination of rural and suburban markets.