Southern First Bancshares (NASDAQ:SFST) Downgraded to Hold Rating by Zacks Research

Southern First Bancshares (NASDAQ:SFST) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Thursday,Zacks.com reports.

Other research analysts have also issued reports about the company. Wall Street Zen lowered Southern First Bancshares from a “buy” rating to a “hold” rating in a research report on Wednesday, April 29th. 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 assigned a Hold rating to the company. According to MarketBeat.com, Southern First Bancshares presently has a consensus rating of “Moderate Buy” and an average price target of $64.00.

Southern First Bancshares Trading Up 0.3%

Shares of NASDAQ SFST opened at $63.03 on Thursday. Southern First Bancshares has a fifty-two week low of $40.90 and a fifty-two week high of $65.09. The firm has a market capitalization of $596.26 million, a P/E ratio of 13.50 and a beta of 0.68. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.04 and a quick ratio of 1.04. The company’s 50 day simple moving average is $61.63 and its 200 day simple moving average is $58.37.

Southern First Bancshares (NASDAQ:SFST) last released its earnings results on Tuesday, July 21st. The bank reported $1.20 EPS for the quarter, topping analysts’ consensus estimates 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%. On average, analysts predict that Southern First Bancshares will post 5.4 EPS for the current year.

Insider Activity at Southern First Bancshares

In related news, CAO Julie Ann Fairchild sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $63.00, for a total transaction of $94,500.00. Following the completion of the transaction, the chief accounting officer owned 5,200 shares in the company, valued at approximately $327,600. The trade was a 22.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Leighton M. Cubbage sold 765 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $60.60, for a total transaction of $46,359.00. Following the transaction, the director owned 50,715 shares of the company’s stock, valued at approximately $3,073,329. This represents a 1.49% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 2,518 shares of company stock worth $155,857 in the last three months. 6.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Southern First Bancshares

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of Southern First Bancshares in the 2nd quarter valued at $50,736,000. Walleye Capital LLC acquired a new position in Southern First Bancshares in the second quarter valued at about $10,998,000. Bank of America Corp DE acquired a new position in Southern First Bancshares in the second quarter valued at about $5,619,000. The Manufacturers Life Insurance Company bought a new stake in shares of Southern First Bancshares in the second quarter worth about $5,343,000. Finally, Wellington Management Group LLP bought a new stake in shares of Southern First Bancshares in the second quarter worth about $3,022,000. Institutional investors and hedge funds 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.