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.
COPYRIGHT VIOLATION NOTICE: “Southern First Bancshares (SFST) Downgraded to “Hold” at BidaskClub” was first reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this piece of content on another publication, it was illegally stolen and republished in violation of United States & international trademark and copyright legislation. The correct version of this piece of content can be read at https://www.dispatchtribunal.com/2018/02/25/southern-first-bancshares-sfst-downgraded-to-hold-at-bidaskclub.html.
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.
Receive News & Ratings for Southern First Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southern First Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.