Fred L. Garrett III, a member of the board of directors at Primis Financial Corp. (NASDAQ: FRST), has executed a new purchase of the lender’s common stock. On June 8, 2026, Mr. Garrett acquired 250 shares at a weighted average price of $15.03 per share. Individual transaction prices for the acquisition ranged from $15.00 to $15.05. The total value of the transaction stands at approximately $3,757.
The insider acquisition comes as the stock trades near its 52-week high of $15.48. Over the trailing twelve-month period, FRST has delivered a 58.56% return. Following this latest purchase, Mr. Garrett’s direct ownership of Primis Financial Corp. common stock totals 48,184 shares. This aggregate figure includes 2,884 shares held within an IRA established for his benefit.
According to InvestingPro analysis, FRST appears undervalued at current price levels. The company trades at a price-to-earnings ratio of 8.13 and offers a dividend yield of 5.27%. Primis Financial has maintained its dividend payments for 15 consecutive years, demonstrating a consistent capital return policy.
Mr. Garrett’s purchase follows the release of Primis Financial Corp.’s first-quarter 2026 financial results, which outperformed market expectations. The company reported earnings per share of $0.33, surpassing the anticipated $0.29. Additionally, Primis Financial’s revenue reached $46 million, exceeding forecasts by 4.86%. These positive earnings and revenue figures highlight the company’s robust performance and have likely contributed to investor confidence. The earnings report has been a focal point for analysts and investors alike, as it provides a clear indication of the company’s financial health. The positive earnings and revenue figures are significant developments for Primis Financial, reflecting its ability to exceed market projections. These recent developments are crucial for stakeholders keeping an eye on the company’s progress.
The insider buying activity, combined with the strong Q1 2026 financial results, provides a clear signal of internal confidence in Primis Financial Corp.’s current valuation and future trajectory. As the stock trades near its 52-week high, the director’s acquisition of 250 shares at $15.03 per share underscores a continued commitment to the lender’s long-term value creation.