BlackRock Inc. Acquires Shares of 830,375 Southern First Bancshares, Inc. $SFST

Key Points

• BlackRock acquired 830,375 shares of Southern First Bancshares during the second quarter, worth approximately $50.7 million and representing an 8.78% stake. Institutional investors collectively own 75% of the company.
• Southern First Bancshares reported quarterly EPS of $1.20, slightly exceeding the $1.19 consensus estimate, with a 16.78% net margin and 10.18% return on equity. Analysts expect full-year EPS of approximately $5.40.
• SFST shares opened at $61.35, near their $65.09 52-week high. Analyst sentiment remains a “Moderate Buy”, with a $64 average price target, although insiders have sold 4,068 shares worth $253,540 over the past 90 days.

BlackRock Inc. bought a new position in shares of Southern First Bancshares, Inc. (NASDAQ:SFST - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 830,375 shares of the bank's stock, valued at approximately $50,736,000. BlackRock Inc. owned about 8.78% of Southern First Bancshares at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Cullen Frost Bankers Inc. increased its stake in Southern First Bancshares by 40.2% in the 4th quarter. Cullen Frost Bankers Inc. now owns 666 shares of the bank's stock worth $34,000 after buying an additional 191 shares during the period. Advisory Services Network LLC bought a new position in Southern First Bancshares in the third quarter worth approximately $38,000. BNP Paribas Financial Markets increased its stake in shares of Southern First Bancshares by 28.7% during the second quarter. BNP Paribas Financial Markets now owns 1,380 shares of the bank's stock valued at $52,000 after buying an additional 308 shares during the period. Tower Research Capital LLC TRC increased its position in Southern First Bancshares by 154.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,633 shares of the bank's stock valued at $62,000 after purchasing an additional 990 shares during the period. Finally, State of Wyoming bought a new position in Southern First Bancshares in the second quarter worth approximately $75,000. 75.00% of the stock is owned by hedge funds and other institutional investors.

Southern First Bancshares Price Performance

SFST stock opened at $61.35 on Tuesday. Southern First Bancshares, Inc. has a 52-week low of $40.90 and a 52-week high of $65.09. The stock has a market cap of $580.37 million, a price-to-earnings ratio of 13.14 and a beta of 0.68. The business has a fifty day moving average of $62.08 and a two-hundred day moving average of $58.53. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.03.

Southern First Bancshares (NASDAQ:SFST - Get Free Report) last issued its quarterly earnings data on Tuesday, July 21st. The bank reported $1.20 EPS for the quarter, topping the consensus estimate of $1.19 by $0.01. Southern First Bancshares had a net margin of 16.78% and a return on equity of 10.18%. The firm had revenue of $20.40 million for the quarter, compared to analyst estimates of $36.30 million. As a group, research analysts anticipate that Southern First Bancshares, Inc. will post 5.4 earnings per share for the current year.

Insider Transactions at Southern First Bancshares

In other news, Director Leighton M. Cubbage sold 800 shares of the stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $63.02, for a total transaction of $50,416.00. Following the sale, the director owned 49,915 shares of the company's stock, valued at approximately $3,145,643.30. This represents a 1.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Julie Ann Fairchild sold 1,500 shares of the firm's stock in a transaction that occurred on Monday, August 3rd. The shares were 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 of the company's stock, valued at approximately $327,600. The trade was a 22.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 4,068 shares of company stock valued at $253,540 over the last 90 days. 6.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on SFST shares. Weiss Ratings reissued a "buy (b)" rating on shares of Southern First Bancshares in a research report on Friday, July 31st. Zacks Research cut shares of Southern First Bancshares from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 20th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $64.00.

Southern First Bancshares Profile

Southern First Bancshares is the bank holding company for Southern First Bank, a community-oriented financial institution headquartered in Greenville, South Carolina. Through its wholly owned subsidiary, the company delivers a full spectrum of commercial and consumer banking services designed to meet the needs of small and midsize businesses, professionals, and individual customers. Southern First Bancshares operates under a relationship-driven model, emphasizing personalized service and local decision–making.

The company's core offerings include deposit products such as checking, savings, money market accounts and certificates of deposit, alongside an array of lending solutions covering commercial real estate, construction, equipment financing and small business administration (SBA) loans.

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