Southern First Bancshares (NASDAQ:SFST) Stock Breaks Below Two Hundred Day Moving Average - Should You Sell?

Key Points

• Southern First Bancshares shares fell below their 200-day moving average of $59.77, trading as low as $59.70 before recovering to $60.09.
• Analysts maintain a generally positive outlook, with two Buy ratings and one Hold rating, an overall “Moderate Buy” consensus, and an average price target of $64.00.
• The bank slightly exceeded quarterly EPS expectations with $1.20 versus $1.19 forecast, while insiders have sold 5,615 shares worth approximately $351,739 over the past 90 days.

Southern First Bancshares, Inc. (NASDAQ:SFST - Get Free Report)'s stock price crossed below its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $59.77 and traded as low as $59.70. Southern First Bancshares shares last traded at $60.09, with a volume of 53,743 shares changing hands.

Analysts Set New Price Targets

SFST has been the subject of several recent research reports. Weiss Ratings reiterated a "buy (b)" rating on shares of Southern First Bancshares in a research report on Friday, July 31st. Zacks Research downgraded 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 given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $64.00.

Southern First Bancshares Trading Down 0.2%

The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.10 and a current ratio of 1.11. The company's fifty day simple moving average is $62.00 and its 200-day simple moving average is $59.77. The company has a market capitalization of $568.45 million, a P/E ratio of 12.87 and a beta of 0.71.

Southern First Bancshares (NASDAQ:SFST - Get Free Report) last issued its quarterly earnings data 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. The company had revenue of $20.40 million for the quarter, compared to analyst estimates of $36.30 million. Southern First Bancshares had a net margin of 16.78% and a return on equity of 10.18%. Research analysts predict that Southern First Bancshares, Inc. will post 5.40 earnings per share for the current year.

Insider Transactions at Southern First Bancshares

In other Southern First Bancshares news, CAO Julie Fairchild sold 1,500 shares of the business's stock in a transaction dated 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 directly owned 5,200 shares in the company, valued at approximately $327,600. The trade was a 22.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Leighton M. Cubbage sold 500 shares of the business's stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $62.79, for a total transaction of $31,395.00. Following the completion of the transaction, the director owned 46,600 shares of the company's stock, valued at $2,926,014. This represents a 1.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 5,615 shares of company stock worth $351,739. 6.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SFST. Legal & General Group Plc acquired a new position in shares of Southern First Bancshares during the second quarter valued at about $54,000. State of Wyoming purchased a new position in shares of Southern First Bancshares in the 2nd quarter valued at approximately $75,000. Hillsdale Investment Management Inc. raised its position in shares of Southern First Bancshares by 3,764.7% in the 1st quarter. Hillsdale Investment Management Inc. now owns 6,570 shares of the bank's stock valued at $358,000 after purchasing an additional 6,400 shares during the last quarter. Arkadios Wealth Advisors acquired a new stake in Southern First Bancshares in the 1st quarter worth approximately $398,000. Finally, Ieq Capital LLC acquired a new stake in Southern First Bancshares in the 2nd quarter worth approximately $448,000. 75.00% of the stock is currently owned by hedge funds and other institutional investors.

About Southern First Bancshares

Southern First Bancshares, Inc is a bank holding company headquartered in Greenville, South Carolina. Through its subsidiary, Southern First Bank, the company provides banking and financial services to businesses, professionals and individuals.

Southern First Bank offers commercial and consumer deposit accounts, residential and commercial real estate loans, business loans, construction and development financing, and other credit products. Its services also include treasury and cash-management solutions, online and mobile banking, and related personal and business banking services.

Founded in 1999, Southern First serves customers through banking offices in South Carolina and North Carolina, including markets such as Greenville, Columbia and Charleston, South Carolina, and the Charlotte, North Carolina, area.

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