Southern First Bancshares (NASDAQ:SFST) Upgraded at Zacks Research

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

A number of other research firms have also recently issued reports on SFST. Weiss Ratings upgraded shares of Southern First Bancshares from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 4th. Wall Street Zen lowered shares of Southern First Bancshares from a “buy” rating to a “hold” rating in a research report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $64.00.

Southern First Bancshares Stock Performance

Southern First Bancshares stock opened at $61.49 on Wednesday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.70. The stock has a market cap of $581.70 million, a PE ratio of 13.17 and a beta of 0.67. Southern First Bancshares has a 12-month low of $38.30 and a 12-month high of $64.06. The business’s 50-day moving average price is $59.59 and its two-hundred day moving average price is $57.13.

Southern First Bancshares (NASDAQ:SFST) last posted its earnings results on Tuesday, July 21st. The bank reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.01. Southern First Bancshares had a net margin of 16.78% and a return on equity of 10.76%. The firm had revenue of $20.40 million during the quarter, compared to analysts’ expectations of $36.30 million. As a group, analysts expect that Southern First Bancshares will post 5.45 earnings per share for the current fiscal year.

Insider Activity at Southern First Bancshares

In other news, Director Leighton M. Cubbage sold 765 shares of Southern First Bancshares stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $60.60, for a total transaction of $46,359.00. Following the sale, the director directly owned 50,715 shares of the company’s stock, valued at approximately $3,073,329. This trade represents a 1.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 6.90% of the company’s stock.

Institutional Investors Weigh In On Southern First Bancshares

Several hedge funds have recently added to or reduced their stakes in the business. Cullen Frost Bankers Inc. grew its holdings in Southern First Bancshares by 40.2% during the 4th quarter. Cullen Frost Bankers Inc. now owns 666 shares of the bank’s stock worth $34,000 after acquiring an additional 191 shares during the last quarter. Jane Street Group LLC increased its position in Southern First Bancshares by 2.9% in the 2nd quarter. Jane Street Group LLC now owns 9,458 shares of the bank’s stock valued at $360,000 after acquiring an additional 268 shares during the period. BNP Paribas Financial Markets raised its stake in shares of Southern First Bancshares by 28.7% during the second quarter. BNP Paribas Financial Markets now owns 1,380 shares of the bank’s stock valued at $52,000 after acquiring an additional 308 shares during the last quarter. Advisory Services Network LLC bought a new position in shares of Southern First Bancshares during the third quarter valued at $38,000. Finally, Royal Bank of Canada raised its stake in shares of Southern First Bancshares by 2.6% during the first quarter. Royal Bank of Canada now owns 34,910 shares of the bank’s stock valued at $1,149,000 after acquiring an additional 890 shares during the last quarter. 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.