Alliancebernstein L.P. cut its holdings in shares of Southern First Bancshares, Inc. (NASDAQ:SFST) by 27.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 60,230 shares of the bank’s stock after selling 22,896 shares during the period. Alliancebernstein L.P.’s holdings in Southern First Bancshares were worth $2,484,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. SeaCrest Wealth Management LLC purchased a new stake in shares of Southern First Bancshares during the fourth quarter valued at $1,327,000. Martingale Asset Management L P boosted its position in shares of Southern First Bancshares by 32.1% during the fourth quarter. Martingale Asset Management L P now owns 10,702 shares of the bank’s stock valued at $442,000 after buying an additional 2,600 shares during the last quarter. EAM Investors LLC boosted its position in shares of Southern First Bancshares by 35.8% during the fourth quarter. EAM Investors LLC now owns 15,645 shares of the bank’s stock valued at $645,000 after buying an additional 4,128 shares during the last quarter. State Street Corp boosted its position in shares of Southern First Bancshares by 14.6% during the second quarter. State Street Corp now owns 86,369 shares of the bank’s stock valued at $3,199,000 after buying an additional 11,008 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Southern First Bancshares during the third quarter valued at $189,000. 70.03% of the stock is currently owned by institutional investors.
Several equities research analysts recently commented on the company. ValuEngine cut Southern First Bancshares from a “buy” rating to a “hold” rating in a research report on Tuesday. Zacks Investment Research cut Southern First Bancshares from a “buy” rating to a “hold” rating in a research report on Saturday, March 24th. Finally, BidaskClub cut Southern First Bancshares from a “buy” rating to a “hold” rating in a research report on Friday, February 23rd. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Southern First Bancshares has an average rating of “Hold” and a consensus price target of $44.00.
Shares of NASDAQ:SFST opened at $44.45 on Friday. The stock has a market capitalization of $333.62, a price-to-earnings ratio of 22.91 and a beta of 0.66. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.06 and a current ratio of 1.07. Southern First Bancshares, Inc. has a 52-week low of $31.50 and a 52-week high of $46.70.
In other Southern First Bancshares news, CFO Michael D. Dowling sold 1,700 shares of the firm’s stock in a transaction dated Monday, March 5th. The stock was sold at an average price of $44.25, for a total value of $75,225.00. Following the transaction, the chief financial officer now directly owns 26,807 shares of the company’s stock, valued at $1,186,209.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President F Justin Strickland sold 3,893 shares of the firm’s stock in a transaction dated 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 in the company, valued at $2,953,171.50. The disclosure for this sale can be found here. Insiders sold 8,797 shares of company stock worth $386,612 over the last three months. Insiders own 12.85% of the company’s stock.
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Southern First Bancshares Company Profile
Southern First Bancshares, Inc operates as the bank holding company for Southern First Bank that provides various banking products and services to general public in South Carolina, North Carolina, and Georgia. It accepts various deposit products that include checking accounts, commercial checking accounts, savings accounts, and other time deposits, including daily money market accounts and certificates of deposit.
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