Southern First Bancshares (NASDAQ:SFST) Stock Price Crosses Above 50 Day Moving Average - Here's Why

Key Points

• Shares crossed above the 50-day moving average, trading as high as $61.19 versus the $60.88 average, and last traded at $61.03.
• Analyst views were mixed: MarketBeat reported an average Hold rating and a $64 price target, with two Buy ratings and one Sell; Zacks Research downgraded the stock to Strong Sell.
• For its latest quarter, Southern First reported EPS of $1.28, beating the $1.25 consensus, while revenue of $37.53 million fell just short of estimates. Insiders sold 4,115 shares over the prior 90 days.

Shares of Southern First Bancshares, Inc. (NASDAQ:SFST - Get Free Report) crossed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $60.88 and traded as high as $61.19. Southern First Bancshares shares last traded at $61.03, with a volume of 77,366 shares trading hands.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on SFST shares. Weiss Ratings reissued a "buy (b)" rating on shares of Southern First Bancshares in a research note on Thursday, October 29th. Zacks Research lowered shares of Southern First Bancshares from a "hold" rating to a "strong sell" rating in a report on Thursday, October 22nd. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $64.00.

Southern First Bancshares Stock Performance

The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.10 and a current ratio of 1.10. The firm has a market cap of $579.17 million, a P/E ratio of 12.51 and a beta of 0.73. The firm's fifty day moving average price is $60.88 and its 200 day moving average price is $59.03.

Southern First Bancshares (NASDAQ:SFST - Get Free Report) last released its quarterly earnings data on Tuesday, October 20th. The bank reported $1.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.25 by $0.03. The firm had revenue of $37.53 million for the quarter, compared to the consensus estimate of $37.60 million. Southern First Bancshares had a net margin of 17.93% and a return on equity of 10.39%. Sell-side analysts expect that Southern First Bancshares, Inc. will post 5.01 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Leighton Cubbage sold 500 shares of Southern First Bancshares stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $62.79, for a total value of $31,395.00. Following the transaction, the director directly owned 46,600 shares in the company, valued at approximately $2,926,014. This trade represents a 1.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 4,115 shares of company stock worth $257,239 in the last ninety days. 6.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. USA Financial Formulas acquired a new position in shares of Southern First Bancshares during the third quarter valued at about $39,000. State of Alaska Department of Revenue boosted its stake in Southern First Bancshares by 110.1% in the 3rd quarter. State of Alaska Department of Revenue now owns 708 shares of the bank's stock worth $40,000 after purchasing an additional 371 shares in the last quarter. Legal & General Group Plc acquired a new stake in Southern First Bancshares in the 2nd quarter worth approximately $54,000. State of Wyoming purchased a new stake in Southern First Bancshares during the 2nd quarter worth approximately $75,000. Finally, Colonial Trust Co SC grew its holdings in shares of Southern First Bancshares by 103.7% during the third quarter. Colonial Trust Co SC now owns 2,455 shares of the bank's stock valued at $145,000 after buying an additional 1,250 shares during the last quarter. 75.00% of the stock is owned by institutional investors.

Southern First Bancshares Company Profile

Southern First Bancshares, Inc. is a bank holding company headquartered in Greenville, South Carolina. Through its subsidiary, Southern First Bank, it provides commercial and consumer banking services to individuals, businesses and professionals. The bank offers business and personal deposit accounts, commercial and residential lending, mortgage services, and wealth management solutions. Its relationship-focused approach includes services tailored to business owners and other clients with complex financial needs.

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