Southern First Bancshares (NASDAQ:SFST) Stock Dropped to “Strong Sell” by Zacks Research

Zacks Research lowered shares of Southern First Bancshares (NASDAQ:SFST) from a hold rating to a strong sell rating in a research note issued to investors on Thursday,Zacks reports.

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of Southern First Bancshares in a report on Friday, July 31st. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Southern First Bancshares presently has a consensus rating of “Hold” and a consensus price target of $64.00.

Southern First Bancshares Price Performance

Shares of NASDAQ:SFST opened at $61.20 on Thursday. Southern First Bancshares has a twelve month low of $40.91 and a twelve month high of $65.09. The company has a current ratio of 1.11, a quick ratio of 1.10 and a debt-to-equity ratio of 0.56. The company has a market cap of $578.65 million, a PE ratio of 12.54 and a beta of 0.71. The company’s 50 day moving average is $61.42 and its 200 day moving average is $60.06.

Southern First Bancshares (NASDAQ:SFST) last announced its quarterly earnings data on Tuesday, October 20th. The bank reported $1.28 EPS for the quarter, beating the consensus estimate of $1.25 by $0.03. The business had revenue of $37.53 million during the quarter, compared to analysts’ expectations of $37.60 million. Southern First Bancshares had a net margin of 17.93% and a return on equity of 10.79%. On average, sell-side analysts forecast that Southern First Bancshares will post 5.02 EPS for the current year.

Insider Transactions at Southern First Bancshares

In related news, CAO Julie Fairchild sold 1,500 shares of Southern First Bancshares stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $63.00, for a total transaction of $94,500.00. Following the completion of the transaction, the chief accounting officer directly owned 5,200 shares in the company, valued at approximately $327,600. This trade represents a 22.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Leighton M. Cubbage sold 500 shares of Southern First Bancshares stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $62.79, for a total value of $31,395.00. Following the transaction, the director owned 46,600 shares of the company’s stock, valued at approximately $2,926,014. This represents a 1.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 5,615 shares of company stock worth $351,739 in the last 90 days. Company insiders own 6.90% of the company’s stock.

Institutional Investors Weigh In On Southern First Bancshares

Hedge funds and other institutional investors have recently made changes to their positions in the company. Walleye Capital LLC acquired a new position in shares of Southern First Bancshares in the second quarter worth about $10,998,000. Wellington Management Group LLP purchased a new stake in shares of Southern First Bancshares during the 2nd quarter worth about $3,022,000. Bank of New York Mellon Corp purchased a new stake in shares of Southern First Bancshares during the 2nd quarter worth about $1,629,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Southern First Bancshares during the 2nd quarter valued at about $5,343,000. Finally, Bank of America Corp DE acquired a new stake in shares of Southern First Bancshares during the 2nd quarter valued at about $5,619,000. Institutional investors and hedge funds own 75.00% of the company’s stock.

Southern First Bancshares Company Profile

Southern First Bancshares, Inc is a bank holding company headquartered in Greenville, South Carolina. Through its wholly owned subsidiary, Southern First Bank, the company provides banking and financial services to businesses, professionals and individuals.

Southern First Bank offers commercial and small-business lending, commercial real estate financing, residential mortgage loans, consumer loans, deposit accounts, treasury management and other cash-management services. Its banking model emphasizes relationship-based service and customized financial solutions for commercial and private clients.

Founded in 1999, Southern First has expanded its presence beyond its original Greenville market to serve communities in South Carolina and the greater Charlotte and Triangle regions of North Carolina.