Bank of New York Mellon Corp Has $693,000 Holdings in Southern First Bancshares, Inc. (NASDAQ:SFST)

Bank of New York Mellon Corp decreased its position in Southern First Bancshares, Inc. (NASDAQ:SFST) by 2.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,066 shares of the bank’s stock after selling 473 shares during the quarter. Bank of New York Mellon Corp owned 0.26% of Southern First Bancshares worth $693,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Colonial Trust Advisors raised its stake in shares of Southern First Bancshares by 18.1% in the 4th quarter. Colonial Trust Advisors now owns 5,725 shares of the bank’s stock valued at $228,000 after purchasing an additional 877 shares during the period. GAMMA Investing LLC raised its stake in shares of Southern First Bancshares by 9,638.9% in the 1st quarter. GAMMA Investing LLC now owns 7,012 shares of the bank’s stock valued at $213,000 after purchasing an additional 6,940 shares during the period. Deutsche Bank AG acquired a new stake in shares of Southern First Bancshares in the 4th quarter valued at about $286,000. Wells Fargo & Company MN grew its holdings in shares of Southern First Bancshares by 15.1% in the 4th quarter. Wells Fargo & Company MN now owns 7,506 shares of the bank’s stock valued at $298,000 after acquiring an additional 986 shares in the last quarter. Finally, Wagner Wealth Management LLC grew its holdings in shares of Southern First Bancshares by 49.5% in the 1st quarter. Wagner Wealth Management LLC now owns 8,306 shares of the bank’s stock valued at $273,000 after acquiring an additional 2,750 shares in the last quarter. Institutional investors and hedge funds own 75.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler raised their price objective on Southern First Bancshares from $43.00 to $51.00 and gave the company an “overweight” rating in a report on Wednesday, July 23rd.

Insider Buying and Selling

In other Southern First Bancshares news, Director Leighton M. Cubbage sold 1,083 shares of the business’s stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $35.72, for a total transaction of $38,684.76. Following the completion of the transaction, the director directly owned 51,205 shares in the company, valued at $1,829,042.60. The trade was a 2.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director William Iv Maner acquired 700 shares of the stock in a transaction on Wednesday, May 14th. The shares were purchased at an average price of $36.15 per share, with a total value of $25,305.00. Following the completion of the transaction, the director owned 2,700 shares of the company’s stock, valued at approximately $97,605. This represents a 35.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. 7.06% of the stock is currently owned by insiders.

Southern First Bancshares Price Performance

Shares of NASDAQ SFST opened at $40.49 on Friday. The stock has a market capitalization of $330.80 million, a price-to-earnings ratio of 15.00 and a beta of 0.83. The business has a 50-day moving average of $38.56 and a 200-day moving average of $35.95. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.09 and a quick ratio of 1.09. Southern First Bancshares, Inc. has a fifty-two week low of $29.14 and a fifty-two week high of $45.99.

Southern First Bancshares (NASDAQ:SFST) last posted its quarterly earnings results on Tuesday, July 22nd. The bank reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.16. Southern First Bancshares had a return on equity of 6.59% and a net margin of 10.09%. The business had revenue of $28.63 million during the quarter, compared to analysts’ expectations of $26.80 million. As a group, sell-side analysts predict that Southern First Bancshares, Inc. will post 1.85 earnings per share for the current fiscal year.

Southern First Bancshares Profile

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.