Southern First Bancshares (NASDAQ:SFST) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Tuesday.
A number of other research analysts also recently commented on the company. Zacks Investment Research upgraded Southern First Bancshares from a “sell” rating to a “buy” rating and set a $48.00 target price for the company in a research report on Wednesday, December 6th. ValuEngine downgraded Southern First Bancshares from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. Finally, FIG Partners restated an “outperform” rating and issued a $42.00 price target (up from $40.00) on shares of Southern First Bancshares in a research report on Wednesday, October 4th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $41.00.
Shares of Southern First Bancshares (NASDAQ:SFST) opened at $41.20 on Tuesday. The company has a current ratio of 1.04, a quick ratio of 1.03 and a debt-to-equity ratio of 0.36. Southern First Bancshares has a fifty-two week low of $31.40 and a fifty-two week high of $43.20. The stock has a market cap of $298.98, a P/E ratio of 20.53 and a beta of 0.74.
Southern First Bancshares (NASDAQ:SFST) last posted its earnings results on Thursday, October 26th. The bank reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. The firm had revenue of $15.85 million during the quarter, compared to the consensus estimate of $15.22 million. Southern First Bancshares had a return on equity of 11.10% and a net margin of 21.10%. equities research analysts anticipate that Southern First Bancshares will post 2.03 earnings per share for the current year.
In other Southern First Bancshares news, President F Justin Strickland sold 1,250 shares of the stock in a transaction on Thursday, November 2nd. The stock was 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 $2,452,671. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Michael D. Dowling sold 4,000 shares of the stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $42.29, for a total value of $169,160.00. Following the completion of the sale, the chief financial officer now owns 28,007 shares in the company, valued at approximately $1,184,416.03. The disclosure for this sale can be found here. 12.85% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE increased its stake in Southern First Bancshares by 7.9% in the first quarter. Bank of America Corp DE now owns 3,080 shares of the bank’s stock worth $100,000 after purchasing an additional 226 shares during the period. Globeflex Capital L P purchased a new position in shares of Southern First Bancshares during the second quarter valued at $112,000. SG Americas Securities LLC purchased a new position in shares of Southern First Bancshares during the third quarter valued at $189,000. Rhumbline Advisers purchased a new position in shares of Southern First Bancshares during the second quarter valued at $253,000. Finally, OxFORD Asset Management LLP purchased a new position in shares of Southern First Bancshares during the second quarter valued at $312,000. Institutional investors and hedge funds own 70.12% of the company’s stock.
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About Southern First Bancshares
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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