Southern First Bancshares (NASDAQ:SFST) Announces Earnings Results

Key Points

• Southern First Bancshares reported $1.19 EPS for the quarter, missing the consensus by $0.01; the bank posted a return on equity of 8.63% and a net margin of 13.52%.
• Analyst sentiment has improved recently with upgrades from Weiss Ratings and Wall Street Zen, and Piper Sandler raising its price target to $64; MarketBeat shows a consensus rating of Moderate Buy and a $64 price target.
• Insider Silvia T. King sold 2,625 shares at $60.49, reducing her stake by 39.85%; insiders own 7.06% of the stock while institutional investors hold about 75%.

Southern First Bancshares (NASDAQ:SFST - Get Free Report) released its quarterly earnings data on Tuesday. The bank reported $1.19 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.01), Zacks reports. Southern First Bancshares had a return on equity of 8.63% and a net margin of 13.52%.

Southern First Bancshares Trading Down 0.6%

Shares of Southern First Bancshares stock opened at $55.75 on Tuesday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.72. Southern First Bancshares has a twelve month low of $31.52 and a twelve month high of $62.00. The firm has a market capitalization of $459.94 million, a PE ratio of 14.91 and a beta of 0.74. The firm's 50-day moving average price is $55.91 and its 200 day moving average price is $52.26.

Analyst Ratings Changes

Several equities analysts recently issued reports on SFST shares. Weiss Ratings upgraded shares of Southern First Bancshares from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, April 7th. Wall Street Zen raised shares of Southern First Bancshares from a "hold" rating to a "buy" rating in a research note on Tuesday. Zacks Research cut Southern First Bancshares from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 6th. Finally, Piper Sandler upped their price target on Southern First Bancshares from $54.00 to $64.00 and gave the stock an "overweight" rating in a report on Thursday, February 5th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Southern First Bancshares presently has an average rating of "Moderate Buy" and a consensus price target of $64.00.

Insider Buying and Selling at Southern First Bancshares

In other news, insider Silvia T. King sold 2,625 shares of the company's stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $60.49, for a total value of $158,786.25. Following the sale, the insider directly owned 3,963 shares in the company, valued at $239,721.87. This represents a 39.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 7.06% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Southern First Bancshares

A number of institutional investors have recently modified their holdings of SFST. Advisory Services Network LLC acquired a new stake in Southern First Bancshares during the third quarter worth approximately $38,000. BNP Paribas Financial Markets lifted its position in Southern First Bancshares by 28.7% during the second quarter. BNP Paribas Financial Markets now owns 1,380 shares of the bank's stock worth $52,000 after buying an additional 308 shares during the period. Tower Research Capital LLC TRC grew its holdings in Southern First Bancshares by 154.0% in the 2nd 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. Raymond James Financial Inc. acquired a new position in shares of Southern First Bancshares in the 2nd quarter valued at $75,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Southern First Bancshares in the 3rd quarter valued at $156,000. Institutional investors and hedge funds 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.

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