StockNews.com Lowers Southern First Bancshares (NASDAQ:SFST) to Sell

Southern First Bancshares (NASDAQ:SFST) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Thursday.

Separately, Piper Sandler raised shares of Southern First Bancshares from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $34.00 to $44.00 in a research report on Wednesday, January 3rd.

Southern First Bancshares Stock Up 1.6 %

Shares of SFST stock traded up $0.50 on Thursday, reaching $31.76. 12,649 shares of the company’s stock traded hands, compared to its average volume of 24,035. The company has a market capitalization of $259.16 million, a P/E ratio of 19.13 and a beta of 0.78. Southern First Bancshares has a 12-month low of $20.75 and a 12-month high of $39.36. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.10 and a current ratio of 1.10. The business’s 50 day moving average price is $33.71 and its two-hundred day moving average price is $31.58.

Southern First Bancshares (NASDAQ:SFST) last issued its earnings results on Thursday, January 18th. The bank reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.12. The company had revenue of $51.47 million for the quarter, compared to the consensus estimate of $22.46 million. Southern First Bancshares had a return on equity of 4.41% and a net margin of 7.16%. On average, equities analysts forecast that Southern First Bancshares will post 2.09 earnings per share for the current year.

Insider Buying and Selling at Southern First Bancshares

In related news, CEO R Arthur Seaver, Jr. sold 996 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $31.25, for a total transaction of $31,125.00. Following the completion of the transaction, the chief executive officer now owns 83,470 shares of the company’s stock, valued at approximately $2,608,437.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO R Arthur Seaver, Jr. sold 996 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $31.25, for a total transaction of $31,125.00. Following the completion of the transaction, the chief executive officer now directly owns 83,470 shares in the company, valued at approximately $2,608,437.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO R Arthur Seaver, Jr. sold 2,500 shares of the stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $31.13, for a total transaction of $77,825.00. Following the completion of the sale, the chief executive officer now directly owns 90,970 shares of the company’s stock, valued at $2,831,896.10. The disclosure for this sale can be found here. Insiders sold 3,513 shares of company stock worth $109,477 over the last ninety days. Company insiders own 7.34% of the company’s stock.

Hedge Funds Weigh In On Southern First Bancshares

Large investors have recently added to or reduced their stakes in the company. Fifth Third Bancorp acquired a new position in shares of Southern First Bancshares in the third quarter valued at $809,000. Hotchkis & Wiley Capital Management LLC boosted its position in shares of Southern First Bancshares by 44.2% during the 2nd quarter. Hotchkis & Wiley Capital Management LLC now owns 99,639 shares of the bank’s stock valued at $2,466,000 after acquiring an additional 30,520 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in Southern First Bancshares by 212.0% in the third quarter. Assenagon Asset Management S.A. now owns 32,479 shares of the bank’s stock valued at $875,000 after acquiring an additional 22,070 shares during the period. Barclays PLC raised its position in Southern First Bancshares by 2.7% in the third quarter. Barclays PLC now owns 19,140 shares of the bank’s stock worth $516,000 after purchasing an additional 496 shares in the last quarter. Finally, Strs Ohio lifted its stake in Southern First Bancshares by 4.9% during the third quarter. Strs Ohio now owns 19,100 shares of the bank’s stock worth $514,000 after purchasing an additional 900 shares during the period. Institutional investors and hedge funds own 75.00% of the company’s stock.

Southern First Bancshares Company Profile

Southern First Bancshares, Inc operates as the bank holding company for Southern First Bank that provides commercial, consumer, and mortgage loans to the general public in South Carolina, North Carolina, and Georgia. The company accepts various deposit products that include checking accounts, commercial checking accounts, and savings accounts, as well as other time deposits, including daily money market accounts and long-term certificates of deposit.