American International Group Inc. boosted its stake in Southern First Bancshares, Inc. (NASDAQ:SFST) by 7.3% during the first quarter, Holdings Channel reports. The fund owned 3,534 shares of the bank’s stock after buying an additional 239 shares during the period. American International Group Inc.’s holdings in Southern First Bancshares were worth $115,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of SFST. Russell Investments Group Ltd. purchased a new position in Southern First Bancshares during the fourth quarter valued at approximately $221,000. Wells Fargo & Company MN raised its position in Southern First Bancshares by 22.3% in the first quarter. Wells Fargo & Company MN now owns 8,342 shares of the bank’s stock valued at $273,000 after buying an additional 1,519 shares during the last quarter. Martingale Asset Management L P raised its position in Southern First Bancshares by 11.2% in the first quarter. Martingale Asset Management L P now owns 10,902 shares of the bank’s stock valued at $356,000 after buying an additional 1,099 shares during the last quarter. Bank of New York Mellon Corp raised its position in Southern First Bancshares by 20.0% in the first quarter. Bank of New York Mellon Corp now owns 18,639 shares of the bank’s stock valued at $608,000 after buying an additional 3,112 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in Southern First Bancshares by 13.9% in the fourth quarter. Renaissance Technologies LLC now owns 37,700 shares of the bank’s stock valued at $1,357,000 after buying an additional 4,600 shares during the last quarter. 57.94% of the stock is owned by institutional investors.
Shares of Southern First Bancshares, Inc. (NASDAQ:SFST) opened at 36.65 on Thursday. The stock’s 50 day moving average is $36.76 and its 200-day moving average is $34.65. The stock has a market capitalization of $268.06 million, a price-to-earnings ratio of 18.81 and a beta of 0.65. Southern First Bancshares, Inc. has a 52 week low of $24.53 and a 52 week high of $38.55.
Southern First Bancshares (NASDAQ:SFST) last released its quarterly earnings results on Tuesday, July 25th. The bank reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01. The business had revenue of $14.92 million during the quarter, compared to analysts’ expectations of $14.21 million. Southern First Bancshares had a return on equity of 11.39% and a net margin of 20.68%. On average, analysts anticipate that Southern First Bancshares, Inc. will post $2.03 earnings per share for the current fiscal year.
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Several research analysts have commented on SFST shares. Sandler O’Neill raised shares of Southern First Bancshares from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $35.00 to $38.00 in a research note on Monday, May 1st. ValuEngine raised shares of Southern First Bancshares from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. BidaskClub lowered shares of Southern First Bancshares from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Finally, Zacks Investment Research raised shares of Southern First Bancshares from a “sell” rating to a “hold” rating in a research note on Wednesday, June 28th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $38.33.
In other news, Director Fred Gilmer, Jr. sold 1,200 shares of the stock in a transaction on Monday, July 31st. The stock was sold at an average price of $36.69, for a total transaction of $44,028.00. Following the completion of the transaction, the director now directly owns 50,320 shares in the company, valued at approximately $1,846,240.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 14.50% 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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