Southern First Bancshares (NASDAQ:SFST) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued on Tuesday.
SFST has been the topic of several other reports. Zacks Investment Research upgraded Southern First Bancshares from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research note on Friday, March 23rd. ValuEngine upgraded Southern First Bancshares from a “hold” rating to a “buy” rating in a research note on Wednesday, March 28th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Southern First Bancshares has a consensus rating of “Buy” and an average target price of $44.00.
Shares of SFST opened at $47.30 on Tuesday. The firm has a market capitalization of $348.79, a price-to-earnings ratio of 24.38 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 has a 1 year low of $32.40 and a 1 year high of $47.50.
In related news, President F Justin Strickland sold 3,893 shares of the business’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $43.50, for a total transaction of $169,345.50. Following the sale, the president now directly owns 67,889 shares in the company, valued at approximately $2,953,171.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Michael D. Dowling sold 1,700 shares of the business’s stock in a transaction on Monday, March 5th. The shares were sold at an average price of $44.25, for a total value of $75,225.00. Following the sale, the chief financial officer now owns 26,807 shares in the company, valued at $1,186,209.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,797 shares of company stock worth $386,612. 10.90% of the stock is currently owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. Metropolitan Life Insurance Co. NY bought a new stake in shares of Southern First Bancshares during the 4th quarter valued at $100,000. MetLife Investment Advisors LLC bought a new stake in shares of Southern First Bancshares during the 4th quarter valued at $141,000. Greenwood Capital Associates LLC bought a new stake in shares of Southern First Bancshares during the 4th quarter valued at $226,000. Wagner Wealth Management LLC bought a new stake in shares of Southern First Bancshares during the 4th quarter valued at $238,000. Finally, Martingale Asset Management L P raised its stake in shares of Southern First Bancshares by 32.1% during the 4th quarter. Martingale Asset Management L P now owns 10,702 shares of the bank’s stock valued at $442,000 after purchasing an additional 2,600 shares during the period. Institutional investors own 69.89% of the company’s stock.
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About Southern First Bancshares
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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