Southern First Bancshares (NASDAQ:SFST) Cut to Hold at Zacks Research

Zacks Research lowered shares of Southern First Bancshares (NASDAQ:SFST) from a strong-buy rating to a hold rating in a report released on Tuesday morning,Zacks.com reports.

SFST has been the subject of several other research reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Southern First Bancshares in a report on Wednesday, October 8th. Wall Street Zen raised Southern First Bancshares from a “hold” rating to a “buy” rating in a research report on Sunday, November 30th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $51.00.

Southern First Bancshares Trading Up 2.9%

Southern First Bancshares stock opened at $53.75 on Tuesday. The stock has a 50-day moving average price of $50.87 and a 200 day moving average price of $45.36. The company has a market capitalization of $440.16 million, a price-to-earnings ratio of 16.64 and a beta of 0.74. Southern First Bancshares has a 52 week low of $29.14 and a 52 week high of $56.73. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.74.

Southern First Bancshares (NASDAQ:SFST) last posted its quarterly earnings results on Tuesday, October 28th. The bank reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.18. Southern First Bancshares had a net margin of 11.83% and a return on equity of 7.63%. The company had revenue of $31.13 million during the quarter, compared to analyst estimates of $30.20 million. Sell-side analysts anticipate that Southern First Bancshares will post 1.85 EPS for the current year.

Insider Buying and Selling

In related news, Director David G. Ellison sold 1,000 shares of the firm’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $53.28, for a total transaction of $53,280.00. Following the sale, the director owned 49,661 shares in the company, valued at approximately $2,645,938.08. This trade represents a 1.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have acquired a total of 525 shares of company stock worth $23,011 in the last quarter. 7.06% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Southern First Bancshares

A number of institutional investors have recently modified their holdings of the business. Advisory Services Network LLC purchased a new position in shares of Southern First Bancshares in the 3rd quarter valued at about $38,000. BNP Paribas Financial Markets grew its holdings in Southern First Bancshares by 28.7% in the second quarter. BNP Paribas Financial Markets now owns 1,380 shares of the bank’s stock valued at $52,000 after purchasing an additional 308 shares during the period. Tower Research Capital LLC TRC increased its position in shares of Southern First Bancshares by 154.0% in the second quarter. Tower Research Capital LLC TRC now owns 1,633 shares of the bank’s stock valued at $62,000 after buying an additional 990 shares in the last quarter. CWM LLC increased its position in shares of Southern First Bancshares by 111.3% in the third quarter. CWM LLC now owns 1,714 shares of the bank’s stock valued at $76,000 after buying an additional 903 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Southern First Bancshares during the 2nd quarter worth approximately $75,000. 75.00% of the stock is currently owned by institutional investors and hedge funds.

Southern First Bancshares Company Profile

Southern First Bancshares is the bank holding company for Southern First Bank, a community-oriented financial institution headquartered in Greenville, South Carolina. Through its wholly owned subsidiary, the company delivers a full spectrum of commercial and consumer banking services designed to meet the needs of small and midsize businesses, professionals, and individual customers. Southern First Bancshares operates under a relationship-driven model, emphasizing personalized service and local decision–making.

The company’s core offerings include deposit products such as checking, savings, money market accounts and certificates of deposit, alongside an array of lending solutions covering commercial real estate, construction, equipment financing and small business administration (SBA) loans.