Bank of New York Mellon Corp Sells 1,905 Shares of Primis Financial Corp. (NASDAQ:FRST)

Bank of New York Mellon Corp cut its position in Primis Financial Corp. (NASDAQ:FRST) by 1.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 137,575 shares of the company’s stock after selling 1,905 shares during the period. Bank of New York Mellon Corp’s holdings in Primis Financial were worth $1,604,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Rhumbline Advisers raised its position in Primis Financial by 94.3% in the fourth quarter. Rhumbline Advisers now owns 70,869 shares of the company’s stock valued at $826,000 after purchasing an additional 34,394 shares during the last quarter. JPMorgan Chase & Co. raised its position in Primis Financial by 120.0% in the third quarter. JPMorgan Chase & Co. now owns 71,112 shares of the company’s stock valued at $866,000 after purchasing an additional 38,792 shares during the last quarter. Barclays PLC raised its position in Primis Financial by 243.8% in the third 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 raised its position in Primis Financial by 2.3% in the third 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 last quarter. Finally, State Street Corp raised its position in Primis Financial by 2.6% in the third quarter. State Street Corp now owns 423,407 shares of the company’s stock valued at $5,157,000 after purchasing an additional 10,923 shares during the last quarter. 74.96% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director John Fitzgerald Biagas purchased 10,000 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The stock was bought at an average price of $9.97 per share, with a total value of $99,700.00. Following the completion of the purchase, the director now owns 88,469 shares in the company, valued at approximately $882,035.93. This represents a 12.74 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Over the last quarter, insiders purchased 12,025 shares of company stock valued at $122,058. Company insiders own 10.89% of the company’s stock.

Primis Financial Price Performance

Primis Financial stock opened at $9.93 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.86 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $245.50 million, a PE ratio of -33.10 and a beta of 0.78. Primis Financial Corp. has a 12 month low of $9.52 and a 12 month high of $13.52. The stock has a 50-day moving average price of $10.72 and a two-hundred day moving average price of $11.48.

Primis Financial (NASDAQ:FRST) last issued its quarterly earnings results on Tuesday, January 28th. The company reported ($0.65) earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.76). Primis Financial had a negative net margin of 2.97% and a negative return on equity of 2.05%. Analysts expect that Primis Financial Corp. will post 1.4 EPS for the current year.

Primis Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were paid a $0.10 dividend. The ex-dividend date was Wednesday, February 12th. This represents a $0.40 annualized dividend and a dividend yield of 4.03%. Primis Financial’s payout ratio is -133.33%.

Primis Financial Company 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.