Southern First Bancshares, Inc. (NASDAQ:SFST) Sees Significant Growth in Short Interest

Southern First Bancshares, Inc. (NASDAQ:SFST) saw a significant increase in short interest during the month of March. As of March 13th, there was short interest totaling 120,699 shares, an increase of 47.5% from the February 26th total of 81,851 shares. Based on an average daily trading volume, of 97,320 shares, the days-to-cover ratio is presently 1.2 days. Approximately 1.6% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

SFST has been the topic of several research analyst reports. Piper Sandler boosted their target price on shares of Southern First Bancshares from $54.00 to $64.00 and gave the stock an “overweight” rating in a research report on Thursday, February 5th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Southern First Bancshares in a research note on Thursday, January 22nd. Zacks Research lowered shares of Southern First Bancshares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 6th. Finally, Wall Street Zen downgraded Southern First Bancshares from a “buy” rating to a “hold” rating in a research report on Saturday. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $64.00.

Southern First Bancshares Stock Performance

NASDAQ SFST traded down $0.37 on Friday, hitting $53.48. 42,084 shares of the company’s stock traded hands, compared to its average volume of 99,112. The firm’s 50-day moving average price is $55.82 and its two-hundred day moving average price is $50.85. The firm has a market capitalization of $440.14 million, a PE ratio of 14.30 and a beta of 0.75. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.72. Southern First Bancshares has a 1-year low of $29.14 and a 1-year high of $62.00.

Southern First Bancshares (NASDAQ:SFST) last released its quarterly earnings data on Thursday, January 22nd. The bank reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.10. The firm had revenue of $1.69 million for the quarter, compared to analyst estimates of $31.90 million. Southern First Bancshares had a net margin of 13.52% and a return on equity of 8.63%. During the same quarter in the prior year, the business earned $0.70 earnings per share. As a group, analysts expect that Southern First Bancshares will post 1.85 EPS for the current year.

Insiders Place Their Bets

In other news, insider Silvia T. King sold 2,625 shares of the business’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $60.49, for a total transaction of $158,786.25. Following the sale, the insider owned 3,963 shares in the company, valued at approximately $239,721.87. The trade was a 39.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 7.06% of the company’s stock.

Institutional Trading of Southern First Bancshares

Hedge funds have recently modified their holdings of the stock. Cullen Frost Bankers Inc. lifted its holdings in Southern First Bancshares by 40.2% during the fourth quarter. Cullen Frost Bankers Inc. now owns 666 shares of the bank’s stock valued at $34,000 after purchasing an additional 191 shares in the last quarter. Jane Street Group LLC increased its stake in shares of Southern First Bancshares by 2.9% during the second quarter. Jane Street Group LLC now owns 9,458 shares of the bank’s stock worth $360,000 after purchasing an additional 268 shares in the last quarter. BNP Paribas Financial Markets raised its position in shares of Southern First Bancshares by 28.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,380 shares of the bank’s stock worth $52,000 after purchasing an additional 308 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Southern First Bancshares by 2.4% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 16,754 shares of the bank’s stock valued at $730,000 after buying an additional 386 shares in the last quarter. Finally, Advisory Services Network LLC acquired a new stake in Southern First Bancshares in the 3rd quarter worth about $38,000. Hedge funds and other institutional investors own 75.00% of the company’s stock.

Southern First Bancshares Company Profile

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.