Southern First Bancshares (NASDAQ:SFST) Raised to “Buy” at BidaskClub

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BidaskClub upgraded shares of Southern First Bancshares (NASDAQ:SFST) from a hold rating to a buy rating in a research note published on Friday morning, BidAskClub reports.

A number of other research analysts have also commented on SFST. Zacks Investment Research upgraded Southern First Bancshares from a hold rating to a strong-buy rating and set a $42.00 price objective on the stock in a research report on Friday, August 9th. FIG Partners reiterated an outperform rating on shares of Southern First Bancshares in a research report on Thursday, May 16th.

Shares of SFST opened at $41.69 on Friday. The firm has a market capitalization of $313.58 million, a price-to-earnings ratio of 14.48 and a beta of 0.98. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.03 and a current ratio of 1.04. The business’s fifty day moving average price is $38.65 and its two-hundred day moving average price is $36.95. Southern First Bancshares has a 52 week low of $27.33 and a 52 week high of $42.20.

Southern First Bancshares (NASDAQ:SFST) last announced its quarterly earnings data on Friday, August 2nd. The bank reported $0.93 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.93. The firm had revenue of $20.63 million for the quarter, compared to analyst estimates of $20.63 million. Southern First Bancshares had a return on equity of 13.94% and a net margin of 25.39%. As a group, research analysts forecast that Southern First Bancshares will post 3.35 EPS for the current year.

In other news, President F Justin Strickland sold 6,250 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $40.02, for a total value of $250,125.00. Following the transaction, the president now directly owns 55,127 shares in the company, valued at approximately $2,206,182.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO R Arthur Seaver, Jr. sold 10,700 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $38.00, for a total value of $406,600.00. Following the completion of the transaction, the chief executive officer now owns 65,891 shares in the company, valued at $2,503,858. The disclosure for this sale can be found here. Insiders sold a total of 22,177 shares of company stock worth $909,282 over the last 90 days. 10.51% of the stock is owned by corporate insiders.

Large investors have recently bought and sold shares of the company. Mcmillion Capital Management Inc. bought a new position in shares of Southern First Bancshares in the 2nd quarter worth $42,000. BNP Paribas Arbitrage SA boosted its position in shares of Southern First Bancshares by 609.8% in the 1st quarter. BNP Paribas Arbitrage SA now owns 1,448 shares of the bank’s stock worth $49,000 after purchasing an additional 1,244 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Southern First Bancshares in the 1st quarter worth $148,000. JPMorgan Chase & Co. boosted its position in shares of Southern First Bancshares by 20.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 7,720 shares of the bank’s stock worth $297,000 after purchasing an additional 1,322 shares during the last quarter. Finally, Greenwood Capital Associates LLC boosted its position in shares of Southern First Bancshares by 4.3% in the 2nd quarter. Greenwood Capital Associates LLC now owns 8,400 shares of the bank’s stock worth $329,000 after purchasing an additional 348 shares during the last quarter. Institutional investors and hedge funds own 73.73% of the company’s stock.

Southern First Bancshares Company Profile

Southern First Bancshares, Inc operates as the bank holding company for Southern First Bank that provides various banking products and services to general public in South Carolina, North Carolina, and Georgia. It accepts various deposit products that include checking accounts, commercial checking accounts, savings accounts, and other time deposits, including daily money market accounts and long-term certificates of deposit.

Further Reading: Overbought

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