Shares of Southern First Bancshares Inc. (NASDAQ:SFST) have been assigned a consensus broker rating score of 1.50 (Buy) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. Southern First Bancshares’ rating score has declined by 50% from 90 days ago as a result of a number of analysts’ upgrades and downgrades.
Brokerages have set a 12-month consensus price target of $30.75 for the company and are expecting that the company will post $0.48 earnings per share for the current quarter, according to Zacks. Zacks has also given Southern First Bancshares an industry rank of 98 out of 265 based on the ratings given to related companies.
Several equities analysts recently weighed in on SFST shares. Zacks Investment Research upgraded shares of 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 Saturday, July 9th. Keefe, Bruyette & Woods increased their price target on shares of Southern First Bancshares from $28.00 to $30.00 and gave the company an “outperform” rating in a research report on Wednesday, July 27th.
Southern First Bancshares (NASDAQ:SFST) opened at 28.30 on Wednesday. The company has a market capitalization of $179.85 million, a price-to-earnings ratio of 15.81 and a beta of 0.63. Southern First Bancshares has a 12-month low of $19.01 and a 12-month high of $31.11. The firm has a 50-day moving average of $27.95 and a 200 day moving average of $26.04.
Southern First Bancshares (NASDAQ:SFST) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $0.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.04. Southern First Bancshares had a net margin of 20.30% and a return on equity of 12.33%. Analysts expect that Southern First Bancshares will post $1.89 EPS for the current fiscal year.
In related news, Director Fred Gilmer, Jr. sold 2,000 shares of the stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $27.25, for a total transaction of $54,500.00. Following the completion of the transaction, the director now owns 54,751 shares in the company, valued at $1,491,964.75. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, President F Justin Strickland sold 1,400 shares of the stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $27.00, for a total transaction of $37,800.00. Following the transaction, the president now owns 56,158 shares of the company’s stock, valued at approximately $1,516,266. The disclosure for this sale can be found here. Corporate insiders own 14.50% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Mendon Capital Advisors Corp raised its position in Southern First Bancshares by 88.0% in the second quarter. Mendon Capital Advisors Corp now owns 291,722 shares of the company’s stock valued at $7,030,000 after buying an additional 136,570 shares during the last quarter. BlackRock Fund Advisors raised its position 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 valued at $3,248,000 after buying an additional 133,828 shares during the last quarter. RMB Capital Management LLC raised its position in Southern First Bancshares by 38.9% in the second quarter. RMB Capital Management LLC now owns 316,182 shares of the company’s stock valued at $7,620,000 after buying an additional 88,495 shares during the last quarter. State Street Corp bought a new position in Southern First Bancshares during the second quarter valued at $1,113,000. Finally, BlackRock Institutional Trust Company N.A. bought a new position in Southern First Bancshares during the second quarter valued at $965,000. Institutional investors own 63.19% of the company’s stock.
About Southern First Bancshares
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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