Primis financial director John Biagas acquires $99,700 in stock

Published 14/03/2025, 00:28
Primis financial director John Biagas acquires $99,700 in stock

John Fitzgerald Biagas, a director at Primis Financial Corp. (NASDAQ:FRST), a regional bank with a market capitalization of $245 million, has acquired 10,000 shares of common stock, according to a recent SEC filing. InvestingPro analysis shows the stock trading near its 52-week low, with a price-to-book ratio of 0.68. The purchase, made on March 12, 2025, was executed at a weighted average price of $9.97 per share, totaling approximately $99,700. Following this transaction, Biagas now holds 88,469 shares, which includes shares in his IRA. The stock price for this transaction ranged from $9.94 to $10.00 per share, with the company currently offering a 4.07% dividend yield. Discover more insights about FRST and access detailed Pro Research Reports covering 1,400+ stocks on InvestingPro.

In other recent news, Primis Financial Corp reported a significant earnings miss for the fourth quarter of 2024, with an earnings per share (EPS) of -$0.65, falling short of the forecasted $0.48. Despite this, the company achieved higher-than-expected revenue, bringing in $39.3 million compared to the anticipated $33.1 million. The earnings report revealed a pre-tax loss of $17.4 million, largely due to a $20.8 million provision for consumer loans and $1.25 million in fraud losses. Adjusted pre-tax earnings were estimated at $6.2 million, indicating potential strength in the company’s core banking operations. Analysts from firms such as Stephens and Janney Montgomery Scott engaged with the company during its earnings call, discussing future loan growth and margin expansion strategies. Primis Financial also outlined expectations for core bank loan growth between $125 million and $175 million, with a margin target of 325-350 basis points. The company is focusing on strategic moves like the potential deconsolidation of Panacea, valued at over $20 million, to improve its financial position. These recent developments reflect Primis Financial’s ongoing efforts to navigate financial challenges and capitalize on growth opportunities in the coming year.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2025 - Fusion Media Limited. All Rights Reserved.