Southern First Bancshares (NASDAQ:SFST) Lowered to “Hold” Rating by Zacks Research

Zacks Research cut shares of Southern First Bancshares (NASDAQ:SFST) from a strong-buy rating to a hold rating in a research note released on Thursday morning,Zacks.com reports.

A number of other brokerages also recently issued reports on SFST. Weiss Ratings reiterated a “buy (b)” rating on shares of Southern First Bancshares in a research report on Friday, July 31st. Wall Street Zen cut shares of Southern First Bancshares from a “buy” rating to a “hold” rating in a research report on Wednesday, April 29th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $64.00.

Southern First Bancshares Trading Up 0.3%

Shares of SFST stock opened at $63.03 on Thursday. The company has a market capitalization of $596.26 million, a PE ratio of 13.50 and a beta of 0.68. Southern First Bancshares has a 52-week low of $40.90 and a 52-week high of $65.09. The business’s fifty day moving average is $61.63 and its 200 day moving average is $58.37. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.04 and a current ratio of 1.04.

Southern First Bancshares (NASDAQ:SFST) last posted its earnings results on Tuesday, July 21st. The bank reported $1.20 EPS for the quarter, topping the consensus estimate of $1.19 by $0.01. The business had revenue of $20.40 million during the quarter, compared to analysts’ expectations of $36.30 million. Southern First Bancshares had a return on equity of 10.18% and a net margin of 16.78%. On average, equities research analysts anticipate that Southern First Bancshares will post 5.4 EPS for the current fiscal year.

Insider Buying and Selling at Southern First Bancshares

In related news, CAO Julie Ann Fairchild sold 1,500 shares of the company’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $63.00, for a total value of $94,500.00. Following the completion of the transaction, the chief accounting officer directly 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Leighton M. Cubbage sold 765 shares of the stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $60.60, for a total value of $46,359.00. Following the completion of the transaction, the director directly owned 50,715 shares in the company, 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 sold 2,518 shares of company stock valued at $155,857 over the last quarter. 6.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Southern First Bancshares

Several institutional investors have recently modified their holdings of SFST. Susquehanna Fundamental Investments LLC purchased a new position in shares of Southern First Bancshares during the 2nd quarter valued at about $557,000. Sheets Smith Wealth Management lifted its position in Southern First Bancshares by 2.3% in the 2nd quarter. Sheets Smith Wealth Management now owns 19,639 shares of the bank’s stock worth $1,200,000 after buying an additional 435 shares during the last quarter. Penn Capital Management Company LLC purchased a new stake in Southern First Bancshares in the second quarter worth approximately $677,000. Wellington Management Group LLP purchased a new stake in Southern First Bancshares in the second quarter worth approximately $3,022,000. Finally, Empowered Funds LLC bought a new position in Southern First Bancshares during the second quarter valued at approximately $1,786,000. 75.00% of the stock is currently owned by institutional investors.

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.