Southern First Bancshares (NASDAQ:SFST) Announces Quarterly Earnings Results

Key Points

• Southern First Bancshares exceeded earnings expectations: The bank reported quarterly EPS of $1.28, beating the $1.25 consensus estimate by $0.03. Revenue was $37.53 million, slightly below analysts’ $37.60 million forecast.
• Shares opened at $59.13, with the company valued at approximately $559 million and trading at a price-to-earnings ratio of 12.66. The stock has ranged between $40.91 and $65.09 over the past 52 weeks.
• Analyst sentiment remains positive, with two Buy ratings and one Hold rating producing a consensus rating of Moderate Buy and an average price target of $64.00. Company insiders sold 5,615 shares worth $351,739 during the latest quarter.

Southern First Bancshares (NASDAQ:SFST - Get Free Report) announced its earnings results on Tuesday. The bank reported $1.28 EPS for the quarter, topping analysts' consensus estimates of $1.25 by $0.03, FiscalAI reports. Southern First Bancshares had a return on equity of 10.18% and a net margin of 16.78%. The firm had revenue of $37.53 million during the quarter, compared to analysts' expectations of $37.60 million.

Southern First Bancshares Stock Performance

Shares of SFST stock opened at $59.13 on Tuesday. The company has a quick ratio of 1.10, a current ratio of 1.11 and a debt-to-equity ratio of 0.56. The stock's 50-day moving average price is $61.68 and its 200 day moving average price is $59.93. Southern First Bancshares has a 52-week low of $40.91 and a 52-week high of $65.09. The stock has a market capitalization of $559.37 million, a PE ratio of 12.66 and a beta of 0.71.

Insider Transactions at Southern First Bancshares

In other Southern First Bancshares news, CAO Julie Fairchild sold 1,500 shares of the firm's stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $63.00, for a total transaction of $94,500.00. Following the sale, the chief accounting officer directly owned 5,200 shares of the company's stock, valued at $327,600. This trade represents a 22.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Leighton M. Cubbage sold 1,200 shares of the business's stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $62.26, for a total value of $74,712.00. Following the completion of the transaction, the director owned 47,100 shares of the company's stock, valued at $2,932,446. This trade represents a 2.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 5,615 shares of company stock valued at $351,739 in the last quarter. Insiders own 6.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on SFST shares. Zacks Research lowered shares of Southern First Bancshares from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 20th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Southern First Bancshares in a report on Friday, July 31st. Two investment 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 presently has a consensus rating of "Moderate Buy" and a consensus target price of $64.00.

About Southern First Bancshares

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

Southern First Bank offers commercial and consumer deposit accounts, residential and commercial real estate loans, business loans, construction and development financing, and other credit products. Its services also include treasury and cash-management solutions, online and mobile banking, and related personal and business banking services.

Founded in 1999, Southern First serves customers through banking offices in South Carolina and North Carolina, including markets such as Greenville, Columbia and Charleston, South Carolina, and the Charlotte, North Carolina, area.

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