Key Points
- Director Leighton Cubbage sold 1,200 SFST shares at an average price of $62.26, generating $74,712 and reducing his ownership by 2.48% to 47,100 shares.
- Southern First Bancshares shares opened at $62.89, with a market capitalization of approximately $594.9 million and a 52-week range of $40.90 to $65.09.
- The bank slightly exceeded quarterly EPS expectations, reporting $1.20 versus the $1.19 consensus estimate. Analysts maintain a “Moderate Buy” consensus with a $64 price target, although Zacks Research recently downgraded the stock to “Hold.”
Southern First Bancshares, Inc. (NASDAQ:SFST - Get Free Report) Director Leighton Cubbage sold 465 shares of the stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $60.75, for a total value of $28,248.75. Following the completion of the transaction, the director owned 48,300 shares in the company, valued at $2,934,225. The trade was a 0.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.
Southern First Bancshares Price Performance
Southern First Bancshares stock opened at $62.89 on Friday. The business's 50-day simple moving average is $62.22 and its 200 day simple moving average is $58.61. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.03. The stock has a market cap of $594.94 million, a price-to-earnings ratio of 13.47 and a beta of 0.67. Southern First Bancshares, Inc. has a 12-month low of $40.90 and a 12-month high of $65.09.
Southern First Bancshares (NASDAQ:SFST - Get Free Report) last announced its quarterly earnings data on Tuesday, July 21st. The bank reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.01. Southern First Bancshares had a return on equity of 10.18% and a net margin of 16.78%.The firm had revenue of $20.40 million during the quarter, compared to analysts' expectations of $36.30 million. As a group, research analysts anticipate that Southern First Bancshares, Inc. will post 5.4 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on the stock. Zacks Research downgraded shares of Southern First Bancshares from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 20th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Southern First Bancshares in a research note on Friday, July 31st. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Southern First Bancshares has a consensus rating of "Moderate Buy" and an average target price of $64.00.
View Our Latest Report on Southern First Bancshares
Hedge Funds Weigh In On Southern First Bancshares
Several hedge funds have recently added to or reduced their stakes in SFST. BlackRock Inc. bought a new position in Southern First Bancshares during the second quarter worth about $50,736,000. Vanguard Group Inc. increased its stake in shares of Southern First Bancshares by 2.6% in the 3rd quarter. Vanguard Group Inc. now owns 431,814 shares of the bank's stock valued at $19,052,000 after acquiring an additional 10,741 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Southern First Bancshares by 0.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 380,368 shares of the bank's stock valued at $20,730,000 after acquiring an additional 2,657 shares during the last quarter. Walleye Capital LLC bought a new stake in shares of Southern First Bancshares in the 2nd quarter valued at about $10,998,000. Finally, State Street Corp raised its position in shares of Southern First Bancshares by 2.7% in the 4th quarter. State Street Corp now owns 164,986 shares of the bank's stock valued at $8,500,000 after acquiring an additional 4,302 shares during the period. Institutional investors and hedge funds own 75.00% of the company's stock.
About Southern First Bancshares
(
Get Free Report)
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.
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