Zacks Investment Research upgraded shares of Southern First Bancshares (NASDAQ:SFST) from a hold rating to a buy rating in a research note published on Friday morning. The brokerage currently has $52.00 target price on the bank’s stock.
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. “
Several other analysts also recently commented on the company. BidaskClub downgraded Southern First Bancshares from a buy rating to a hold rating in a research note on Tuesday, December 12th. ValuEngine raised Southern First Bancshares from a hold rating to a buy rating in a research report on Saturday, February 3rd. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $42.00.
In related news, President F Justin Strickland sold 657 shares of the stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $44.00, for a total transaction of $28,908.00. Following the completion of the sale, the president now directly owns 72,232 shares of the company’s stock, valued at $3,178,208. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Michael D. Dowling sold 1,700 shares of the stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of $44.25, for a total value of $75,225.00. Following the sale, the chief financial officer now directly owns 26,807 shares of the company’s stock, valued at $1,186,209.75. The disclosure for this sale can be found here. Insiders have sold 7,357 shares of company stock valued at $322,187 over the last ninety days. 12.85% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in SFST. Northern Trust Corp grew its holdings in Southern First Bancshares by 18.1% during the second quarter. Northern Trust Corp now owns 67,618 shares of the bank’s stock valued at $2,505,000 after purchasing an additional 10,365 shares during the period. Vanguard Group Inc. grew its holdings in Southern First Bancshares by 6.1% during the second quarter. Vanguard Group Inc. now owns 199,557 shares of the bank’s stock valued at $7,393,000 after purchasing an additional 11,495 shares during the period. State Street Corp grew its holdings in Southern First Bancshares by 14.6% during the second quarter. State Street Corp now owns 86,369 shares of the bank’s stock valued at $3,199,000 after purchasing an additional 11,008 shares during the period. Bank of New York Mellon Corp grew its holdings in Southern First Bancshares by 12.1% during the third quarter. Bank of New York Mellon Corp now owns 24,888 shares of the bank’s stock valued at $905,000 after purchasing an additional 2,685 shares during the period. Finally, SG Americas Securities LLC bought a new position in Southern First Bancshares during the third quarter valued at $189,000. 70.03% of the stock is owned by institutional investors and hedge funds.
TRADEMARK VIOLATION WARNING: This story was posted by Ticker Report and is owned by of Ticker Report. If you are reading this story on another publication, it was copied illegally and reposted in violation of US and international copyright legislation. The legal version of this story can be read at https://www.tickerreport.com/banking-finance/3301663/southern-first-bancshares-sfst-upgraded-at-zacks-investment-research.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Southern First Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southern First Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.