Southern First Bancshares (SFST) Rating Lowered to Hold at Zacks Investment Research

Southern First Bancshares (NASDAQ:SFST) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Saturday.

According to Zacks, “Greenville First Bancshares, Inc. is the holding company for Greenville First Bank, N.A., a national banking association chartered under the laws of the United States. “

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Other research analysts have also issued reports about the company. BidaskClub raised Southern First Bancshares from a “hold” rating to a “buy” rating in a report on Saturday, February 10th. ValuEngine raised Southern First Bancshares from a “hold” rating to a “buy” rating in a report on Saturday, February 3rd. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Southern First Bancshares has a consensus rating of “Hold” and a consensus target price of $42.00.

SFST stock opened at $43.70 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.07 and a debt-to-equity ratio of 0.54. Southern First Bancshares has a 1-year low of $31.50 and a 1-year high of $46.70. The company has a market capitalization of $321.83, a price-to-earnings ratio of 21.96 and a beta of 0.69.

In other news, CFO Michael D. Dowling sold 1,700 shares of the company’s stock in a transaction on Monday, March 5th. The stock was sold at an average price of $44.25, for a total transaction of $75,225.00. Following the completion of the sale, the chief financial officer now directly owns 26,807 shares in the company, valued at approximately $1,186,209.75. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, President F Justin Strickland sold 657 shares of the company’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $44.00, for a total value of $28,908.00. Following the sale, the president now owns 72,232 shares of the company’s stock, valued at $3,178,208. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,357 shares of company stock worth $322,187. Insiders own 12.85% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Metropolitan Life Insurance Co. NY bought a new stake in shares of Southern First Bancshares during the 4th quarter valued at $100,000. MetLife Investment Advisors LLC bought a new stake in shares of Southern First Bancshares during the 4th quarter valued at $141,000. SG Americas Securities LLC bought a new stake in shares of Southern First Bancshares during the 3rd quarter valued at $189,000. Greenwood Capital Associates LLC bought a new stake in shares of Southern First Bancshares during the 4th quarter valued at $226,000. Finally, Wagner Wealth Management LLC bought a new stake in shares of Southern First Bancshares during the 4th quarter valued at $238,000. Hedge funds and other institutional investors own 70.03% of the company’s stock.

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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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