Southern First Bancshares, Inc. $SFST Shares Sold by Rhino Investment Partners Inc

Key Points

• Rhino Investment Partners Inc has reduced its stake in Southern First Bancshares by 8.7%, selling 20,100 shares and now holding 210,121 shares worth approximately $6.9 million.
• Piper Sandler has increased their price target for Southern First Bancshares from $43 to $51, maintaining an "overweight" rating on the stock.
• Southern First Bancshares recently reported earnings of $0.81 per share, exceeding analysts' estimates of $0.65, with revenue of $28.63 million for the quarter.

Rhino Investment Partners Inc lowered its position in Southern First Bancshares, Inc. (NASDAQ:SFST - Free Report) by 8.7% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 210,121 shares of the bank's stock after selling 20,100 shares during the period. Southern First Bancshares accounts for approximately 1.7% of Rhino Investment Partners Inc's portfolio, making the stock its 21st biggest holding. Rhino Investment Partners Inc owned approximately 2.57% of Southern First Bancshares worth $6,917,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. JPMorgan Chase & Co. lifted its stake in shares of Southern First Bancshares by 84.4% in the fourth quarter. JPMorgan Chase & Co. now owns 26,769 shares of the bank's stock worth $1,064,000 after buying an additional 12,251 shares in the last quarter. Wells Fargo & Company MN raised its holdings in Southern First Bancshares by 15.1% in the 4th quarter. Wells Fargo & Company MN now owns 7,506 shares of the bank's stock valued at $298,000 after acquiring an additional 986 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Southern First Bancshares by 3.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 350,875 shares of the bank's stock worth $13,947,000 after purchasing an additional 10,854 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Southern First Bancshares by 0.3% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 797,043 shares of the bank's stock worth $31,683,000 after purchasing an additional 2,026 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Southern First Bancshares by 3.3% during the 4th quarter. Northern Trust Corp now owns 79,280 shares of the bank's stock worth $3,151,000 after purchasing an additional 2,560 shares during the last quarter. Hedge funds and other institutional investors own 75.00% of the company's stock.

Wall Street Analyst Weigh In

Separately, Piper Sandler lifted their price objective on Southern First Bancshares from $43.00 to $51.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $51.00.

Southern First Bancshares Trading Down 1.0%

SFST stock traded down $0.43 during midday trading on Monday, hitting $44.51. 15,633 shares of the company's stock were exchanged, compared to its average volume of 19,026. Southern First Bancshares, Inc. has a 1-year low of $29.14 and a 1-year high of $45.99. The company has a current ratio of 1.10, a quick ratio of 1.09 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $364.14 million, a PE ratio of 16.49 and a beta of 0.83. The business has a 50-day simple moving average of $40.27 and a two-hundred day simple moving average of $36.44.

Southern First Bancshares (NASDAQ:SFST - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The bank reported $0.81 earnings per share for the quarter, topping analysts' consensus estimates of $0.65 by $0.16. The business had revenue of $28.63 million during the quarter, compared to analysts' expectations of $26.80 million. Southern First Bancshares had a return on equity of 6.52% and a net margin of 10.09%. On average, sell-side analysts predict that Southern First Bancshares, Inc. will post 1.85 EPS for the current fiscal year.

Insider Buying and Selling at Southern First Bancshares

In other news, Director Leighton M. Cubbage sold 1,083 shares of the company's stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $35.72, for a total value of $38,684.76. Following the transaction, the director directly owned 51,205 shares in the company, valued at approximately $1,829,042.60. This represents a 2.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 7.06% of the stock is currently owned by corporate insiders.

Southern First Bancshares Company Profile

Southern First Bancshares, Inc operates as the bank holding company for Southern First Bank that provides commercial, consumer, and mortgage loans to the general public in South Carolina, North Carolina, and Georgia. The company accepts various deposit products that include checking accounts, commercial checking accounts, and savings accounts, as well as other time deposits, including daily money market accounts and long-term certificates of deposit.