Southern First Bancshares (SFST) Downgraded by BidaskClub

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BidaskClub lowered shares of Southern First Bancshares (NASDAQ:SFST) from a hold rating to a sell rating in a research report released on Friday.

SFST has been the subject of a number of other reports. FIG Partners reiterated an outperform rating on shares of Southern First Bancshares in a research note on Wednesday, May 2nd. Zacks Investment Research upgraded shares of Southern First Bancshares from a hold rating to a buy rating and set a $52.00 target price for the company in a research note on Friday, May 4th. Finally, Sandler O’Neill lowered shares of Southern First Bancshares from a buy rating to a hold rating in a research note on Tuesday, June 26th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $45.50.

Shares of NASDAQ SFST opened at $43.35 on Friday. Southern First Bancshares has a twelve month low of $33.25 and a twelve month high of $48.75. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.04 and a quick ratio of 1.04.

Southern First Bancshares (NASDAQ:SFST) last announced its quarterly earnings data on Tuesday, July 31st. The bank reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.03. Southern First Bancshares had a net margin of 21.88% and a return on equity of 11.13%. analysts anticipate that Southern First Bancshares will post 2.76 EPS for the current year.

In other Southern First Bancshares news, Director Leighton M. Cubbage sold 1,375 shares of the business’s stock in a transaction on Monday, June 25th. The shares were sold at an average price of $46.75, for a total transaction of $64,281.25. Following the completion of the sale, the director now directly owns 87,172 shares in the company, valued at approximately $4,075,291. The sale was disclosed in a document filed with the SEC, which is available through this link. 10.90% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in SFST. Metropolitan Life Insurance Co. NY bought a new stake in shares of Southern First Bancshares during the 4th quarter valued at $100,000. MetLife Investment Advisors LLC bought a new stake in shares of Southern First Bancshares during the 4th quarter valued at $141,000. LPL Financial LLC bought a new stake in shares of Southern First Bancshares during the 1st quarter valued at $207,000. Rhumbline Advisers grew its position in shares of Southern First Bancshares by 25.1% during the 2nd quarter. Rhumbline Advisers now owns 6,876 shares of the bank’s stock valued at $304,000 after acquiring an additional 1,379 shares during the period. Finally, Globeflex Capital L P grew its position in shares of Southern First Bancshares by 14.8% during the 2nd quarter. Globeflex Capital L P now owns 9,300 shares of the bank’s stock valued at $411,000 after acquiring an additional 1,200 shares during the period. Institutional investors and hedge funds own 70.07% of the company’s stock.

About Southern First Bancshares

Southern First Bancshares, Inc operates as the bank holding company for Southern First Bank that provides various banking products and services to general public in South Carolina, North Carolina, and Georgia. It accepts various deposit products that include checking accounts, commercial checking accounts, savings accounts, and other time deposits, including daily money market accounts and certificates of deposit.

Further Reading: Outstanding Shares and The Effect on Share Price

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