Southern First Bancshares (NASDAQ:SFST) Downgraded by StockNews.com to “Sell”

StockNews.com downgraded shares of Southern First Bancshares (NASDAQ:SFSTFree Report) from a hold rating to a sell rating in a report issued on Thursday morning.

Separately, Piper Sandler raised Southern First Bancshares from a neutral rating to an overweight rating and lifted their price objective for the company from $34.00 to $44.00 in a report on Wednesday, January 3rd.

View Our Latest Research Report on SFST

Southern First Bancshares Stock Performance

NASDAQ SFST opened at $31.76 on Thursday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.00. Southern First Bancshares has a 52-week low of $20.75 and a 52-week high of $39.36. The business’s 50-day moving average price is $33.71 and its 200 day moving average price is $31.58. The firm has a market cap of $259.16 million, a P/E ratio of 19.13 and a beta of 0.78.

Southern First Bancshares (NASDAQ:SFSTGet Free Report) last announced its quarterly earnings data on Thursday, January 18th. The bank reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.12. Southern First Bancshares had a return on equity of 4.41% and a net margin of 7.16%. The company had revenue of $51.47 million for the quarter, compared to analyst estimates of $22.46 million. On average, equities research analysts expect that Southern First Bancshares will post 2.09 earnings per share for the current year.

Insider Activity

In other news, CEO R Arthur Seaver, Jr. sold 996 shares of Southern First Bancshares stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $31.25, for a total transaction of $31,125.00. Following the completion of the sale, the chief executive officer now directly owns 83,470 shares in the company, valued at approximately $2,608,437.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO R Arthur Seaver, Jr. sold 2,500 shares of Southern First Bancshares stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $31.13, for a total transaction of $77,825.00. Following the completion of the transaction, the chief executive officer now directly owns 90,970 shares in the company, valued at approximately $2,831,896.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO R Arthur Seaver, Jr. sold 996 shares of Southern First Bancshares stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $31.25, for a total value of $31,125.00. Following the transaction, the chief executive officer now owns 83,470 shares of the company’s stock, valued at $2,608,437.50. The disclosure for this sale can be found here. In the last three months, insiders sold 3,513 shares of company stock worth $109,477. Company insiders own 7.34% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. UBS Group AG raised its position in shares of Southern First Bancshares by 130.3% during the 3rd quarter. UBS Group AG now owns 905 shares of the bank’s stock worth $37,000 after purchasing an additional 512 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in shares of Southern First Bancshares by 80.4% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 1,862 shares of the bank’s stock worth $81,000 after purchasing an additional 830 shares during the last quarter. Public Employees Retirement System of Ohio raised its holdings in Southern First Bancshares by 154.7% in the 1st quarter. Public Employees Retirement System of Ohio now owns 1,877 shares of the bank’s stock valued at $58,000 after acquiring an additional 1,140 shares during the last quarter. BNP Paribas Arbitrage SNC raised its holdings in Southern First Bancshares by 22.7% in the 3rd quarter. BNP Paribas Arbitrage SNC now owns 2,284 shares of the bank’s stock valued at $95,000 after acquiring an additional 422 shares during the last quarter. Finally, Citigroup Inc. raised its holdings in Southern First Bancshares by 114,150.0% in the 2nd quarter. Citigroup Inc. now owns 2,285 shares of the bank’s stock valued at $57,000 after acquiring an additional 2,283 shares during the last quarter. 75.00% of the stock is currently owned by institutional investors and hedge funds.

About Southern First Bancshares

(Get Free Report)

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

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