Southern First Bancshares, Inc. (NASDAQ:SFST – Get Free Report)’s share price crossed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $60.88 and traded as high as $61.19. Southern First Bancshares shares last traded at $61.03, with a volume of 77,366 shares.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on the company. Zacks Research downgraded Southern First Bancshares from a “hold” rating to a “strong sell” rating in a report on Thursday, October 22nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Southern First Bancshares in a research note on Thursday, October 29th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Southern First Bancshares presently has an average rating of “Hold” and an average price target of $64.00.
Read Our Latest Analysis on SFST
Southern First Bancshares Price Performance
The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $579.17 million, a PE ratio of 12.51 and a beta of 0.73. The company has a 50-day moving average of $60.88 and a 200 day moving average of $59.03.
Southern First Bancshares (NASDAQ:SFST – Get Free Report) last announced its quarterly earnings data on Tuesday, October 20th. The bank reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.03. Southern First Bancshares had a return on equity of 10.39% and a net margin of 17.93%. The company had revenue of $37.53 million for the quarter, compared to analyst estimates of $37.60 million. Sell-side analysts predict that Southern First Bancshares, Inc. will post 5.01 EPS for the current year.
Insider Activity at Southern First Bancshares
In other news, Director Leighton Cubbage sold 500 shares of the firm’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $62.79, for a total value of $31,395.00. Following the transaction, the director directly owned 46,600 shares of the company’s stock, valued at approximately $2,926,014. This trade represents a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders have sold 4,115 shares of company stock valued at $257,239 in the last ninety days. 6.90% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Southern First Bancshares
Institutional investors and hedge funds have recently bought and sold shares of the business. State of Alaska Department of Revenue grew its stake in Southern First Bancshares by 110.1% during the 3rd quarter. State of Alaska Department of Revenue now owns 708 shares of the bank’s stock valued at $40,000 after acquiring an additional 371 shares in the last quarter. Sheets Smith Wealth Management boosted its holdings in shares of Southern First Bancshares by 2.3% during the 2nd quarter. Sheets Smith Wealth Management now owns 19,639 shares of the bank’s stock worth $1,200,000 after purchasing an additional 435 shares during the last quarter. USA Financial Formulas acquired a new position in shares of Southern First Bancshares during the 3rd quarter worth approximately $39,000. Ieq Capital LLC boosted its holdings in shares of Southern First Bancshares by 10.0% during the 3rd quarter. Ieq Capital LLC now owns 8,062 shares of the bank’s stock worth $478,000 after purchasing an additional 731 shares during the last quarter. Finally, Legal & General Group Plc purchased a new stake in shares of Southern First Bancshares in the second quarter valued at approximately $54,000. 75.00% of the stock is currently owned by institutional investors and hedge funds.
About Southern First Bancshares
Southern First Bancshares, Inc. is a bank holding company headquartered in Greenville, South Carolina. Through its subsidiary, Southern First Bank, it provides commercial and consumer banking services to individuals, businesses and professionals. The bank offers business and personal deposit accounts, commercial and residential lending, mortgage services, and wealth management solutions. Its relationship-focused approach includes services tailored to business owners and other clients with complex financial needs.
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