Wall Street analysts expect that Southern First Bancshares, Inc. (NASDAQ:SFST) will announce sales of $25.75 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Southern First Bancshares' earnings. The lowest sales estimate is $25.18 million and the highest is $26.32 million. Southern First Bancshares reported sales of $21.14 million during the same quarter last year, which would suggest a positive year over year growth rate of 21.8%. The business is scheduled to report its next earnings report on Monday, March 1st.
On average, analysts expect that Southern First Bancshares will report full year sales of $103.88 million for the current fiscal year, with estimates ranging from $103.36 million to $104.40 million. For the next financial year, analysts forecast that the firm will report sales of $101.14 million, with estimates ranging from $100.05 million to $102.23 million. Zacks Investment Research's sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Southern First Bancshares.
Southern First Bancshares (NASDAQ:SFST) last released its quarterly earnings results on Tuesday, October 27th. The bank reported $0.28 earnings per share for the quarter, missing the Zacks' consensus estimate of $0.57 by ($0.29). Southern First Bancshares had a net margin of 18.93% and a return on equity of 10.65%. The company had revenue of $28.22 million during the quarter, compared to analyst estimates of $25.46 million.
A number of equities research analysts have commented on SFST shares. TheStreet upgraded Southern First Bancshares from a "c+" rating to a "b-" rating in a research report on Tuesday, November 17th. Zacks Investment Research lowered Southern First Bancshares from a "hold" rating to a "sell" rating in a research report on Tuesday, October 20th. ValuEngine upgraded Southern First Bancshares from a "sell" rating to a "hold" rating in a research report on Tuesday, November 17th. Finally, BidaskClub upgraded Southern First Bancshares from a "hold" rating to a "buy" rating in a research report on Friday, December 11th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. Southern First Bancshares currently has an average rating of "Hold" and an average price target of $30.00.
NASDAQ:SFST opened at $38.05 on Thursday. The company has a quick ratio of 1.03, a current ratio of 1.05 and a debt-to-equity ratio of 0.17. Southern First Bancshares has a 1-year low of $20.89 and a 1-year high of $43.00. The firm has a market capitalization of $294.43 million, a price-to-earnings ratio of 13.45 and a beta of 1.04. The stock has a fifty day simple moving average of $35.18 and a 200 day simple moving average of $28.64.
In related news, Director Leighton M. Cubbage sold 1,620 shares of the firm's stock in a transaction that occurred on Thursday, December 17th. The stock was sold at an average price of $35.00, for a total value of $56,700.00. Following the transaction, the director now directly owns 69,581 shares of the company's stock, valued at approximately $2,435,335. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Michael D. Dowling sold 3,000 shares of the firm's stock in a transaction that occurred on Wednesday, December 9th. The shares were sold at an average price of $35.03, for a total value of $105,090.00. Following the completion of the transaction, the chief financial officer now directly owns 45,150 shares in the company, valued at $1,581,604.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,582 shares of company stock valued at $372,283. 8.48% of the stock is owned by corporate insiders.
Several hedge funds have recently modified their holdings of SFST. Nisa Investment Advisors LLC bought a new position in shares of Southern First Bancshares in the 3rd quarter valued at approximately $39,000. BNP Paribas Arbitrage SA raised its stake in shares of Southern First Bancshares by 410.7% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 1,675 shares of the bank's stock valued at $40,000 after acquiring an additional 1,347 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in Southern First Bancshares by 441.7% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,492 shares of the bank's stock worth $69,000 after buying an additional 2,032 shares during the period. Signaturefd LLC bought a new position in Southern First Bancshares in the 3rd quarter worth approximately $88,000. Finally, JPMorgan Chase & Co. increased its position in Southern First Bancshares by 6.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,837 shares of the bank's stock worth $164,000 after buying an additional 397 shares during the period. 74.78% of the stock is currently owned by institutional investors and hedge funds.
Southern First Bancshares Company Profile
Southern First Bancshares, Inc operates as the bank holding company for Southern First Bank that provides various banking products and services to general public in South Carolina, North Carolina, and Georgia. It accepts various deposit products that include checking accounts, commercial checking accounts, savings accounts, and other time deposits, including daily money market accounts and long-term certificates of deposit.
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