Short Interest in Southern First Bancshares, Inc. (NASDAQ:SFST) Expands By 129.0%

Key Points

• Short interest in Southern First Bancshares surged 129% in June to 436,399 shares, representing about 5.0% of the float and a 2.1-day short-interest ratio.
• Analysts currently have a Moderate Buy view on SFST, with two Buy ratings and one Hold rating, and an average target price of $64.00.
• The stock traded near its 52-week high at $61.87, while the company recently missed quarterly earnings and revenue estimates by a small margin in its latest report.

Southern First Bancshares, Inc. (NASDAQ:SFST - Get Free Report) was the recipient of a significant growth in short interest during the month of June. As of June 30th, there was short interest totaling 436,399 shares, a growth of 129.0% from the June 15th total of 190,554 shares. Based on an average trading volume of 204,632 shares, the short-interest ratio is currently 2.1 days. Currently, 5.0% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

SFST has been the topic of several recent research reports. Weiss Ratings raised Southern First Bancshares from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, May 4th. Wall Street Zen lowered Southern First Bancshares from a "buy" rating to a "hold" rating in a research report on Wednesday, April 29th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $64.00.

Insider Transactions at Southern First Bancshares

In other Southern First Bancshares news, Director Leighton M. Cubbage sold 765 shares of Southern First Bancshares stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $60.60, for a total value of $46,359.00. Following the completion of the transaction, the director directly owned 50,715 shares in the company, valued at $3,073,329. The trade was a 1.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 6.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Southern First Bancshares

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SFST. Cullen Frost Bankers Inc. lifted its position in Southern First Bancshares by 40.2% in the fourth quarter. Cullen Frost Bankers Inc. now owns 666 shares of the bank's stock worth $34,000 after purchasing an additional 191 shares during the period. Advisory Services Network LLC bought a new stake in shares of Southern First Bancshares in the 3rd quarter worth $38,000. BNP Paribas Financial Markets lifted its holdings in shares of Southern First Bancshares by 28.7% in the second quarter. BNP Paribas Financial Markets now owns 1,380 shares of the bank's stock valued at $52,000 after buying an additional 308 shares during the period. Tower Research Capital LLC TRC lifted its holdings in shares of Southern First Bancshares by 154.0% in the second quarter. Tower Research Capital LLC TRC now owns 1,633 shares of the bank's stock valued at $62,000 after buying an additional 990 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Southern First Bancshares during the second quarter valued at about $75,000. Institutional investors own 75.00% of the company's stock.

Southern First Bancshares Price Performance

SFST traded up $0.16 on Tuesday, reaching $61.87. The company had a trading volume of 29,993 shares, compared to its average volume of 111,829. The company has a fifty day moving average of $58.61 and a 200-day moving average of $56.56. The company has a market capitalization of $585.29 million, a P/E ratio of 14.46 and a beta of 0.67. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.70. Southern First Bancshares has a one year low of $38.30 and a one year high of $63.75.

Southern First Bancshares (NASDAQ:SFST - Get Free Report) last released its quarterly earnings results on Tuesday, April 21st. The bank reported $1.19 EPS for the quarter, missing analysts' consensus estimates of $1.20 by ($0.01). Southern First Bancshares had a return on equity of 9.65% and a net margin of 15.21%.The company had revenue of $32.30 million for the quarter, compared to the consensus estimate of $33.10 million. As a group, equities research analysts anticipate that Southern First Bancshares will post 5.05 earnings per share for the current year.

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.

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