Wellington Management Group LLP bought a new position in Southern First Bancshares, Inc. (NASDAQ:SFST – Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 49,465 shares of the bank’s stock, valued at approximately $3,022,000. Wellington Management Group LLP owned approximately 0.52% of Southern First Bancshares as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of the company. Royal Bank of Canada boosted its stake in shares of Southern First Bancshares by 2.6% during the first quarter. Royal Bank of Canada now owns 34,910 shares of the bank’s stock valued at $1,149,000 after purchasing an additional 890 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Southern First Bancshares by 4.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 66,603 shares of the bank’s stock worth $2,193,000 after buying an additional 3,074 shares during the period. Empowered Funds LLC boosted its position in Southern First Bancshares by 23.4% during the 1st quarter. Empowered Funds LLC now owns 18,637 shares of the bank’s stock worth $614,000 after buying an additional 3,532 shares during the period. Jane Street Group LLC bought a new stake in Southern First Bancshares during the 1st quarter worth approximately $303,000. Finally, Gabelli Funds LLC grew its holdings in Southern First Bancshares by 14.2% during the 2nd quarter. Gabelli Funds LLC now owns 41,850 shares of the bank’s stock worth $1,592,000 after acquiring an additional 5,200 shares during the last quarter. 75.00% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In other Southern First Bancshares news, Director Leighton M. Cubbage sold 1,200 shares of the company’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $62.26, for a total transaction of $74,712.00. Following the sale, the director owned 47,100 shares of the company’s stock, valued at approximately $2,932,446. This represents a 2.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Julie Fairchild sold 1,500 shares of the stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $63.00, for a total value of $94,500.00. Following the sale, the chief accounting officer owned 5,200 shares of the company’s stock, valued at approximately $327,600. The trade was a 22.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 5,868 shares of company stock valued at $366,737 in the last three months. 6.90% of the stock is owned by insiders.
Southern First Bancshares Stock Performance
Southern First Bancshares (NASDAQ:SFST – Get Free Report) last released its quarterly earnings results on Tuesday, July 21st. The bank reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.01. The firm had revenue of $20.40 million during the quarter, compared to analyst estimates of $36.30 million. Southern First Bancshares had a net margin of 16.78% and a return on equity of 10.18%. Research analysts anticipate that Southern First Bancshares, Inc. will post 5.4 earnings per share for the current year.
Wall Street Analyst Weigh In
SFST has been the subject of several recent research reports. Zacks Research cut shares of Southern First Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of Southern First Bancshares in a report on Friday, July 31st. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Southern First Bancshares has an average rating of “Moderate Buy” and an average price target of $64.00.
Read Our Latest Report on Southern First Bancshares
About Southern First Bancshares
Southern First Bancshares is the bank holding company for Southern First Bank, a community-oriented financial institution headquartered in Greenville, South Carolina. Through its wholly owned subsidiary, the company delivers a full spectrum of commercial and consumer banking services designed to meet the needs of small and midsize businesses, professionals, and individual customers. Southern First Bancshares operates under a relationship-driven model, emphasizing personalized service and local decision–making.
The company’s core offerings include deposit products such as checking, savings, money market accounts and certificates of deposit, alongside an array of lending solutions covering commercial real estate, construction, equipment financing and small business administration (SBA) loans.
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