Connor Clark & Lunn Investment Management Ltd. Makes New $2.09 Million Investment in Southern First Bancshares, Inc. $SFST

Key Points

• Connor Clark & Lunn Investment Management bought 34,246 shares of Southern First Bancshares worth approximately $2.09 million, representing about 0.36% of the company. Institutional investors collectively own 75% of the stock.
• Southern First Bancshares reported quarterly EPS of $1.20, slightly exceeding the $1.19 consensus estimate, while analysts maintain a “Moderate Buy” rating with an average price target of $64.
• Insiders sold 4,068 shares worth approximately $253,540 during the last quarter, including sales by a director and the chief accounting officer.

Connor Clark & Lunn Investment Management Ltd. bought a new stake in Southern First Bancshares, Inc. (NASDAQ:SFST - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 34,246 shares of the bank's stock, valued at approximately $2,092,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.36% of Southern First Bancshares at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Cullen Frost Bankers Inc. grew its holdings in Southern First Bancshares by 40.2% during the 4th quarter. Cullen Frost Bankers Inc. now owns 666 shares of the bank's stock worth $34,000 after acquiring an additional 191 shares during the period. Advisory Services Network LLC acquired a new position in shares of Southern First Bancshares in the 3rd quarter valued at $38,000. BNP Paribas Financial Markets lifted its stake in shares of Southern First Bancshares by 28.7% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,380 shares of the bank's stock valued at $52,000 after purchasing an additional 308 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of Southern First Bancshares by 154.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,633 shares of the bank's stock worth $62,000 after purchasing an additional 990 shares during the last quarter. Finally, State of Wyoming bought a new position in shares of Southern First Bancshares in the 2nd quarter worth $75,000. Institutional investors and hedge funds own 75.00% of the company's stock.

Southern First Bancshares Price Performance

NASDAQ SFST opened at $62.26 on Friday. The firm's 50 day moving average is $62.03 and its 200-day moving average is $58.51. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $588.98 million, a PE ratio of 13.33 and a beta of 0.68. Southern First Bancshares, Inc. has a 12-month low of $40.90 and a 12-month high of $65.09.

Southern First Bancshares (NASDAQ:SFST - Get Free Report) last issued its quarterly earnings results on Tuesday, July 21st. The bank reported $1.20 earnings per share (EPS) for the quarter, beating 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. Equities research analysts anticipate that Southern First Bancshares, Inc. will post 5.4 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Weiss Ratings restated a "buy (b)" rating on shares of Southern First Bancshares in a report on Friday, July 31st. Zacks Research downgraded shares of Southern First Bancshares from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 20th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $64.00.

Insider Activity

In related news, Director Leighton M. Cubbage sold 400 shares of the stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $63.00, for a total transaction of $25,200.00. Following the completion of the transaction, the director directly owned 49,515 shares of the company's stock, valued at approximately $3,119,445. This represents a 0.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 value of $94,500.00. Following the completion of the transaction, the chief accounting officer owned 5,200 shares of the company's stock, valued at approximately $327,600. This represents a 22.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 4,068 shares of company stock worth $253,540 in the last quarter. 6.90% of the stock is currently owned by corporate insiders.

Southern First Bancshares Company 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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