Southern First Bancshares (SFST) Rating Lowered to Strong Sell at BidaskClub

Southern First Bancshares (SFST) Rating Lowered to Strong Sell at BidaskClub

Southern First Bancshares (NASDAQ:SFST) was downgraded by equities research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued on Friday.

A number of other research firms have also issued reports on SFST. Zacks Investment Research lowered shares of Southern First Bancshares from a “buy” rating to a “hold” rating in a research note on Wednesday, September 26th. ValuEngine lowered shares of Southern First Bancshares from a “hold” rating to a “sell” rating in a research note on Wednesday, November 7th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $41.00.

Southern First Bancshares stock opened at $35.00 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.49. The stock has a market cap of $262.03 million, a price-to-earnings ratio of 19.89 and a beta of 0.64. Southern First Bancshares has a 52-week low of $34.66 and a 52-week high of $48.75.

Southern First Bancshares (NASDAQ:SFST) last posted its earnings results on Tuesday, October 23rd. The bank reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.05. Southern First Bancshares had a net margin of 22.71% and a return on equity of 11.76%. Equities analysts forecast that Southern First Bancshares will post 2.84 EPS for the current fiscal year.

In other Southern First Bancshares news, Director Fred Gilmer, Jr. sold 1,430 shares of the business’s stock in a transaction dated Wednesday, November 7th. The shares were sold at an average price of $36.50, for a total transaction of $52,195.00. Following the sale, the director now directly owns 47,890 shares in the company, valued at approximately $1,747,985. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO R Arthur Seaver, Jr. sold 18,000 shares of the business’s stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $41.68, for a total transaction of $750,240.00. Following the sale, the chief executive officer now owns 44,876 shares in the company, valued at $1,870,431.68. The disclosure for this sale can be found here. Insiders have sold a total of 20,195 shares of company stock valued at $833,112 over the last three months. 12.85% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in the business. Globeflex Capital L P raised 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 worth $411,000 after buying an additional 1,200 shares in the last quarter. California Public Employees Retirement System raised its position in shares of Southern First Bancshares by 12.4% during the 2nd quarter. California Public Employees Retirement System now owns 11,676 shares of the bank’s stock worth $516,000 after buying an additional 1,286 shares in the last quarter. Rhumbline Advisers raised 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 worth $304,000 after buying an additional 1,379 shares in the last quarter. MetLife Investment Advisors LLC raised its position in shares of Southern First Bancshares by 55.4% during the 3rd quarter. MetLife Investment Advisors LLC now owns 5,314 shares of the bank’s stock worth $209,000 after buying an additional 1,895 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Southern First Bancshares by 1.4% during the 3rd quarter. Renaissance Technologies LLC now owns 158,900 shares of the bank’s stock worth $6,245,000 after buying an additional 2,179 shares in the last quarter. Institutional investors own 69.46% of the company’s stock.

Southern First Bancshares Company Profile

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.

Featured Article: Risk Tolerance and Your Investment Decisions

Related posts

Leave a Comment