Southern First Bancshares Inc. (SFST) Rating Lowered to Market Perform at Keefe, Bruyette & Woods
Southern First Bancshares Inc. (NASDAQ:SFST) was downgraded by Keefe, Bruyette & Woods from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Tuesday, The Fly reports.
Separately, Zacks Investment Research upgraded Southern First Bancshares from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a research report on Tuesday, November 8th.
Shares of Southern First Bancshares (NASDAQ:SFST) opened at 32.00 on Tuesday. The company’s 50-day moving average is $28.31 and its 200 day moving average is $27.09. Southern First Bancshares has a 52-week low of $21.15 and a 52-week high of $33.47. The company has a market cap of $204.22 million, a PE ratio of 17.02 and a beta of 0.49.
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In related news, CFO Michael D. Dowling sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 23rd. The stock was sold at an average price of $31.60, for a total value of $79,000.00. Following the completion of the sale, the chief financial officer now owns 26,464 shares in the company, valued at approximately $836,262.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, President F Justin Strickland sold 24,773 shares of the business’s stock in a transaction that occurred on Thursday, November 17th. The stock was sold at an average price of $30.64, for a total value of $759,044.72. Following the completion of the sale, the president now owns 62,691 shares of the company’s stock, valued at approximately $1,920,852.24. The disclosure for this sale can be found here. Insiders own 14.50% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in SFST. Alliancebernstein L.P. increased its stake in Southern First Bancshares by 0.4% in the second quarter. Alliancebernstein L.P. now owns 95,865 shares of the company’s stock worth $2,310,000 after buying an additional 400 shares during the last quarter. BlackRock Institutional Trust Company N.A. purchased a new stake in Southern First Bancshares during the second quarter worth $965,000. BlackRock Fund Advisors increased its stake in Southern First Bancshares by 14,042.8% in the second quarter. BlackRock Fund Advisors now owns 134,781 shares of the company’s stock worth $3,248,000 after buying an additional 133,828 shares during the last quarter. BlackRock Investment Management LLC increased its stake in Southern First Bancshares by 2,450.3% in the second quarter. BlackRock Investment Management LLC now owns 23,361 shares of the company’s stock worth $563,000 after buying an additional 22,445 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in Southern First Bancshares by 9.2% in the second quarter. Vanguard Group Inc. now owns 182,395 shares of the company’s stock worth $4,396,000 after buying an additional 15,421 shares during the last quarter. Institutional investors own 62.65% of the company’s stock.
Southern First Bancshares Company Profile
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.
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