Southern First Bancshares Inc. (SFST) Downgraded by Zacks Investment Research to “Hold”
According to Zacks, “Greenville First Bancshares, Inc. is the holding company for Greenville First Bank, N.A., a national banking association chartered under the laws of the United States. “
Separately, Keefe, Bruyette & Woods upped their price objective on Southern First Bancshares from $28.00 to $30.00 and gave the stock an outperform rating in a research report on Wednesday, July 27th.
Shares of Southern First Bancshares (NASDAQ:SFST) traded up 0.1219% on Tuesday, reaching $28.9052. The company had a trading volume of 1,740 shares. The firm has a market capitalization of $183.69 million, a P/E ratio of 16.1482 and a beta of 0.63. Southern First Bancshares has a 52 week low of $19.01 and a 52 week high of $31.11. The company’s 50-day moving average price is $27.79 and its 200 day moving average price is $25.96.
Southern First Bancshares (NASDAQ:SFST) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $0.49 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.04. Southern First Bancshares had a return on equity of 12.33% and a net margin of 20.30%. On average, analysts expect that Southern First Bancshares will post $1.89 EPS for the current year.
In related news, Director Fred Gilmer, Jr. sold 2,000 shares of the company’s stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $27.25, for a total value of $54,500.00. Following the completion of the sale, the director now directly owns 54,751 shares of the company’s stock, valued at approximately $1,491,964.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, President F Justin Strickland sold 1,400 shares of the company’s stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $27.00, for a total value of $37,800.00. Following the completion of the sale, the president now directly owns 56,158 shares of the company’s stock, valued at $1,516,266. The disclosure for this sale can be found here. Insiders own 14.50% of the company’s stock.
Several hedge funds have recently made changes to their positions in the stock. Acrospire Investment Management LLC boosted its stake in shares of Southern First Bancshares by 30.1% in the second quarter. Acrospire Investment Management LLC now owns 4,229 shares of the company’s stock worth $102,000 after buying an additional 978 shares during the period. Nationwide Fund Advisors purchased a new stake in shares of Southern First Bancshares during the second quarter worth about $144,000. Livingston Group Asset Management CO operating as Southport Capital Management purchased a new stake in shares of Southern First Bancshares during the second quarter worth about $159,000. Royal Bank of Canada boosted its stake in shares of Southern First Bancshares by 10.2% in the second quarter. Royal Bank of Canada now owns 8,660 shares of the company’s stock worth $209,000 after buying an additional 800 shares during the period. Finally, Schwab Charles Investment Management Inc. purchased a new stake in shares of Southern First Bancshares during the second quarter worth about $213,000. 63.19% of the stock is owned by hedge funds and other institutional investors.
Southern First Bancshares Company Profile
Southern First Bancshares, Inc is a bank holding company that owns the capital stock of Southern First Bank (the Bank), a South Carolina state bank, and all of the stock of Greenville First Statutory Trust I and II (the Trusts). The Bank is a commercial bank with approximately nine retail offices located in Greenville, Columbia and Charleston, South Carolina.
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