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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.
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