Fred L. Garrett, III, serving as a director at Primis Financial Corp. (NASDAQ: FRST), has executed a purchase of the company's common stock. The transaction, finalized on June 9, 2026, involved the acquisition of 155 shares priced at $15.24 per share, culminating in a total investment value of $2,362.
This acquisition occurs against a backdrop of robust price action for the ticker. FRST is currently trading in close proximity to its 52-week high of $15.53. The stock has demonstrated significant momentum over the trailing twelve months, delivering a 60% return. Market analysis suggests that the current valuation may present an opportunity, with the share price trading at a price-to-earnings (P/E) ratio of 8.11. Additionally, the equity offers a dividend yield of 5.25%, which contributes to its current attractiveness.
Following this recent transaction, Mr. Garrett's direct ownership in Primis Financial Corp. stands at 48,339 shares of common stock. This total holding encompasses 2,884 shares held within an Individual Retirement Account (IRA) established for his benefit.
The insider activity aligns with the company's recent financial disclosures. Primis Financial Corp. reported its first-quarter 2026 earnings results, which exceeded market expectations. The company recorded earnings per share (EPS) of $0.33, surpassing the anticipated figure of $0.29. Furthermore, the firm's revenue expanded to $46 million, a figure that beat forecasts by 4.86%.
These financial outcomes have drawn attention from the investment community, reflecting a positive sentiment toward the company's operational trajectory. While specific analyst upgrades or downgrades have not been issued in direct relation to these developments, the financial data points to a favorable trend. The results underscore Primis Financial's capacity to consistently exceed market expectations.