Southern First Bancshares (SFST) Downgraded to “Hold” at BidaskClub

Southern First Bancshares (NASDAQ:SFST) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

Other analysts have also recently issued reports about the company. Zacks Investment Research upgraded Southern First Bancshares from a “sell” rating to a “buy” rating and set a $48.00 price target on the stock in a research report on Wednesday, December 6th. ValuEngine upgraded Southern First Bancshares from a “hold” rating to a “buy” rating in a research report on Saturday, February 3rd. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Southern First Bancshares has an average rating of “Buy” and a consensus price target of $40.50.

Shares of Southern First Bancshares (NASDAQ SFST) opened at $43.35 on Friday. The company has a current ratio of 1.04, a quick ratio of 1.03 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $318.90, a P/E ratio of 21.78 and a beta of 0.67. Southern First Bancshares has a 1 year low of $31.40 and a 1 year high of $44.65.

In related news, CFO Michael D. Dowling sold 4,000 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 28,007 shares of the company’s stock, valued at approximately $1,184,416.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, President F Justin Strickland sold 3,893 shares of the stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $43.50, for a total value of $169,345.50. Following the completion of the transaction, the president now directly owns 67,889 shares of the company’s stock, valued at $2,953,171.50. The disclosure for this sale can be found here. Insiders sold a total of 9,657 shares of company stock valued at $416,122 over the last three months. Corporate insiders own 12.85% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. New York State Common Retirement Fund grew its holdings in Southern First Bancshares by 169.1% in the 2nd quarter. New York State Common Retirement Fund now owns 8,592 shares of the bank’s stock worth $318,000 after buying an additional 5,399 shares in the last quarter. Wells Fargo & Company MN grew its holdings in Southern First Bancshares by 40.2% in the 2nd quarter. Wells Fargo & Company MN now owns 11,692 shares of the bank’s stock worth $432,000 after buying an additional 3,350 shares in the last quarter. Vanguard Group Inc. grew its holdings in Southern First Bancshares by 6.1% in the 2nd quarter. Vanguard Group Inc. now owns 199,557 shares of the bank’s stock worth $7,393,000 after buying an additional 11,495 shares in the last quarter. Northern Trust Corp grew its holdings in Southern First Bancshares by 18.1% in the 2nd quarter. Northern Trust Corp now owns 67,618 shares of the bank’s stock worth $2,505,000 after buying an additional 10,365 shares in the last quarter. Finally, State Street Corp grew its holdings in Southern First Bancshares by 14.6% in the 2nd quarter. State Street Corp now owns 86,369 shares of the bank’s stock worth $3,199,000 after buying an additional 11,008 shares in the last quarter. 68.23% of the stock is owned by institutional investors and hedge funds.

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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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