Insider Selling: Southern First Bancshares (NASDAQ:SFST) Director Sells $25,200.00 in Stock

Key Points

• Southern First Bancshares director Leighton Cubbage sold 400 shares at $63 each, totaling $25,200 and reducing his holdings by 0.81% to 48,765 shares.
• SFST shares fell 0.9% to $60.79, while the bank’s latest quarterly results slightly exceeded expectations with $1.20 in EPS versus the $1.19 consensus estimate.
• Analyst sentiment remains cautiously positive, with a “Moderate Buy” consensus and a $64 average price target; institutional investors own approximately 75% of the company.

Southern First Bancshares, Inc. (NASDAQ:SFST - Get Free Report) Director Leighton Cubbage sold 400 shares of the stock in a transaction on Friday, August 28th. The stock was sold at an average price of $63.00, for a total value of $25,200.00. Following the completion of the transaction, the director owned 48,765 shares of the company's stock, valued at approximately $3,072,195. This trade represents a 0.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Southern First Bancshares Stock Down 0.9%

Shares of SFST stock traded down $0.56 during mid-day trading on Tuesday, reaching $60.79. 67,804 shares of the company's stock traded hands, compared to its average volume of 111,884. The company's 50-day moving average price is $62.08 and its 200-day moving average price is $58.53. The company has a market cap of $575.07 million, a P/E ratio of 13.02 and a beta of 0.68. 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, 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, 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 company had revenue of $20.40 million during the quarter, compared to analyst estimates of $36.30 million. On average, equities analysts expect that Southern First Bancshares, Inc. will post 5.4 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Southern First Bancshares

Several large investors have recently modified their holdings of SFST. Cullen Frost Bankers Inc. boosted 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 purchasing an additional 191 shares in the last quarter. Jane Street Group LLC grew its position in Southern First Bancshares by 2.9% during the 2nd quarter. Jane Street Group LLC now owns 9,458 shares of the bank's stock valued at $360,000 after purchasing an additional 268 shares during the last quarter. BNP Paribas Financial Markets increased its stake in Southern First Bancshares by 28.7% during 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 in the last quarter. Sheets Smith Wealth Management increased its stake in Southern First Bancshares by 2.3% during the 2nd quarter. Sheets Smith Wealth Management now owns 19,639 shares of the bank's stock valued at $1,200,000 after purchasing an additional 435 shares in the last quarter. Finally, Advisory Services Network LLC purchased a new position in Southern First Bancshares in the third quarter worth about $38,000. Hedge funds and other institutional investors own 75.00% of the company's stock.

About Southern First Bancshares

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source