Primis Financial (NASDAQ:FRST) Price Target Cut to $17.00 by Analysts at Keefe, Bruyette & Woods

Primis Financial (NASDAQ:FRST) had its price objective decreased by analysts at Keefe, Bruyette & Woods from $18.00 to $17.00 in a report released on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods‘s price target indicates a potential upside of 13.33% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. Weiss Ratings restated a “buy (b)” rating on shares of Primis Financial in a research report on Wednesday, October 21st. Raymond James Financial cut their price target on Primis Financial from $19.00 to $18.00 and set a “strong-buy” rating for the company in a research note on Tuesday, October 6th. Finally, Zacks Research cut Primis Financial from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $17.50.

Primis Financial Stock Up 1.8%

FRST stock opened at $15.00 on Tuesday. The firm has a market cap of $371.99 million, a PE ratio of 6.73 and a beta of 0.73. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.96 and a current ratio of 1.02. The firm’s fifty day moving average is $15.62 and its 200 day moving average is $14.82. Primis Financial has a one year low of $10.50 and a one year high of $16.88.

Primis Financial (NASDAQ:FRST) last released its quarterly earnings data on Thursday, October 22nd. The company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.07). The firm had revenue of $49.23 million during the quarter, compared to analysts’ expectations of $50.89 million. Primis Financial had a net margin of 19.27% and a return on equity of 5.77%. On average, research analysts forecast that Primis Financial will post 1.38 EPS for the current year.

Institutional Investors Weigh In On Primis Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Legal & General Group Plc purchased a new position in Primis Financial during the second quarter valued at $36,000. State of Wyoming purchased a new stake in shares of Primis Financial during the third quarter worth about $69,000. Fiduciary Financial Advisors purchased a new stake in shares of Primis Financial during the second quarter worth about $90,000. Janney Montgomery Scott LLC purchased a new stake in shares of Primis Financial during the first quarter worth about $179,000. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Primis Financial during the 2nd quarter worth about $179,000. Hedge funds and other institutional investors own 74.96% of the company’s stock.

About Primis Financial

Primis Financial Corp. is a bank holding company headquartered in Glen Allen, Virginia. Its principal subsidiary, Primis Bank, provides banking and financial services to individuals, families, businesses and nonprofit organizations.

Primis Bank offers deposit products, residential and commercial real estate loans, consumer lending, business loans, treasury and cash-management services, mortgage banking and online and mobile banking. The bank also provides services designed to support small and middle-market businesses, including commercial lending and payment solutions.

The institution was formerly known as Sonabank and adopted the Primis name as part of a broader rebranding in 2020.