Southern First Bancshares, Inc. (NASDAQ:SFST) to Post Q1 2018 Earnings of $0.55 Per Share, FIG Partners Forecasts

Southern First Bancshares, Inc. (NASDAQ:SFST) – Investment analysts at FIG Partners cut their Q1 2018 earnings per share estimates for Southern First Bancshares in a research note issued on Wednesday, Zacks Investment Research reports. FIG Partners analyst C. Marinac now anticipates that the bank will post earnings per share of $0.55 for the quarter, down from their previous estimate of $0.56. FIG Partners has a “Outperform” rating and a $42.00 price target on the stock.

Several other research analysts also recently weighed in on SFST. BidaskClub downgraded Southern First Bancshares from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Zacks Investment Research downgraded Southern First Bancshares from a “hold” rating to a “sell” rating in a research report on Friday, October 6th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $38.67.

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Southern First Bancshares (SFST) opened at $39.15 on Friday. Southern First Bancshares has a 52 week low of $29.25 and a 52 week high of $41.10. The company has a quick ratio of 1.03, a current ratio of 1.04 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $286.91, a P/E ratio of 19.70 and a beta of 0.72.

Southern First Bancshares (NASDAQ:SFST) last posted its quarterly earnings results on Thursday, October 26th. The bank reported $0.55 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.02. Southern First Bancshares had a return on equity of 11.10% and a net margin of 21.10%. The business had revenue of $15.85 million during the quarter, compared to the consensus estimate of $15.22 million.

In related news, CFO Michael D. Dowling sold 750 shares of the stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $36.00, for a total transaction of $27,000.00. Following the sale, the chief financial officer now owns 30,507 shares in the company, valued at approximately $1,098,252. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, President F Justin Strickland sold 1,250 shares of the stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $39.00, for a total value of $48,750.00. Following the sale, the president now owns 62,889 shares in the company, valued at approximately $2,452,671. The disclosure for this sale can be found here. Insiders have sold a total of 12,450 shares of company stock valued at $451,950 over the last quarter. Corporate insiders own 12.85% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Banc Funds Co. LLC raised its holdings in Southern First Bancshares by 13.7% during the 2nd quarter. Banc Funds Co. LLC now owns 622,521 shares of the bank’s stock valued at $23,064,000 after buying an additional 75,000 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Southern First Bancshares by 18.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 468,270 shares of the bank’s stock valued at $17,349,000 after buying an additional 71,848 shares during the period. Wellington Management Group LLP raised its holdings in Southern First Bancshares by 8.1% during the 1st quarter. Wellington Management Group LLP now owns 415,019 shares of the bank’s stock valued at $13,550,000 after buying an additional 31,186 shares during the period. Vanguard Group Inc. raised its holdings in Southern First Bancshares by 6.1% during the 2nd quarter. Vanguard Group Inc. now owns 199,557 shares of the bank’s stock valued at $7,393,000 after buying an additional 11,495 shares during the period. Finally, River Oaks Capital LLC raised its holdings in Southern First Bancshares by 10.9% during the 2nd quarter. River Oaks Capital LLC now owns 198,400 shares of the bank’s stock valued at $7,351,000 after buying an additional 19,452 shares during the period. Institutional investors own 70.22% of the company’s stock.

Southern First Bancshares Company Profile

Southern First Bancshares, Inc is a bank holding company that owns the capital stock of Southern First Bank (the Bank), a South Carolina state bank, and all of the stock of Greenville First Statutory Trust I and II (the Trusts). The Bank is a commercial bank with approximately nine retail offices located in Greenville, Columbia and Charleston, South Carolina.

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Earnings History and Estimates for Southern First Bancshares (NASDAQ:SFST)

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