SeaCrest Wealth Management LLC Reduces Holdings in Southern First Bancshares, Inc. $SFST

Key Points

• SeaCrest Wealth Management LLC reduced its holdings in Southern First Bancshares by 66.9%, owning approximately 19,071 shares worth $725,000 after selling 38,600 shares in the second quarter.
• Institutional investors own 75.00% of Southern First Bancshares, with several firms like Wealth Enhancement Advisory Services and Goldman Sachs Group increasing their positions recently.
• Piper Sandler raised its price target for Southern First Bancshares from $43.00 to $51.00, reflecting a positive outlook with the stock currently rated as a "Buy".

SeaCrest Wealth Management LLC lowered its position in Southern First Bancshares, Inc. (NASDAQ:SFST - Free Report) by 66.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 19,071 shares of the bank's stock after selling 38,600 shares during the period. SeaCrest Wealth Management LLC owned approximately 0.23% of Southern First Bancshares worth $725,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of SFST. Sheets Smith Wealth Management grew its position in Southern First Bancshares by 4.0% during the 1st quarter. Sheets Smith Wealth Management now owns 15,805 shares of the bank's stock worth $520,000 after purchasing an additional 614 shares during the last quarter. Foster Victor Wealth Advisors LLC grew its position in Southern First Bancshares by 6.5% during the 1st quarter. Foster Victor Wealth Advisors LLC now owns 10,287 shares of the bank's stock worth $317,000 after purchasing an additional 631 shares during the last quarter. Royal Bank of Canada grew its position in Southern First Bancshares by 2.6% during the 1st quarter. Royal Bank of Canada now owns 34,910 shares of the bank's stock worth $1,149,000 after purchasing an additional 890 shares during the last quarter. Gamco Investors INC. ET AL boosted its holdings in shares of Southern First Bancshares by 4.1% in the 1st quarter. Gamco Investors INC. ET AL now owns 25,500 shares of the bank's stock valued at $839,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in shares of Southern First Bancshares by 36.9% in the fourth quarter. Bank of America Corp DE now owns 9,114 shares of the bank's stock worth $362,000 after acquiring an additional 2,455 shares during the period. Hedge funds and other institutional investors own 75.00% of the company's stock.

Wall Street Analyst Weigh In

Separately, Piper Sandler increased their price target on shares of Southern First Bancshares from $43.00 to $51.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, Southern First Bancshares currently has an average rating of "Buy" and an average target price of $51.00.

Southern First Bancshares Trading Up 1.3%

Shares of Southern First Bancshares stock traded up $0.59 on Tuesday, reaching $45.27. The company had a trading volume of 9,524 shares, compared to its average volume of 19,040. The firm's 50 day moving average price is $43.10 and its two-hundred day moving average price is $37.93. The firm has a market cap of $370.27 million, a PE ratio of 16.79 and a beta of 0.84. Southern First Bancshares, Inc. has a 52-week low of $29.14 and a 52-week high of $46.40. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.09 and a current ratio of 1.10.

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

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.