Southern First Bancshares (NASDAQ:SFST) Announces Earnings Results

Key Points

• Southern First Bancshares reported quarterly EPS of $1.20, edging past the consensus estimate of $1.19 by $0.01.
• The bank’s revenue came in at $20.40 million, well below analyst expectations of $36.30 million, even as it posted a return on equity of 9.65% and a net margin of 15.21%.
• Analysts currently rate SFST as a Moderate Buy with an average target price of $64.00, while institutional investors continue to hold the majority of shares.

Southern First Bancshares (NASDAQ:SFST - Get Free Report) released its quarterly earnings data on Tuesday. The bank reported $1.20 EPS for the quarter, topping the consensus estimate of $1.19 by $0.01, FiscalAI reports. The business had revenue of $20.40 million for the quarter, compared to analyst estimates of $36.30 million. Southern First Bancshares had a return on equity of 9.65% and a net margin of 15.21%.

Southern First Bancshares Stock Performance

NASDAQ:SFST opened at $61.39 on Tuesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.10 and a current ratio of 1.10. The stock has a market capitalization of $580.75 million, a PE ratio of 14.34 and a beta of 0.67. Southern First Bancshares has a fifty-two week low of $38.30 and a fifty-two week high of $64.06. The company has a fifty day moving average of $59.16 and a two-hundred day moving average of $56.90.

Insiders Place Their Bets

In related news, Director Leighton M. Cubbage sold 765 shares of Southern First Bancshares stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $60.60, for a total value of $46,359.00. Following the sale, the director directly owned 50,715 shares in the company, valued at approximately $3,073,329. The trade was a 1.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 6.90% of the company's stock.

Institutional Trading of Southern First Bancshares

Several large investors have recently made changes to their positions in the company. Royal Bank of Canada lifted its holdings in Southern First Bancshares by 2.6% in the 1st quarter. Royal Bank of Canada now owns 34,910 shares of the bank's stock valued at $1,149,000 after purchasing an additional 890 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Southern First Bancshares by 4.8% during the first quarter. Goldman Sachs Group Inc. now owns 66,603 shares of the bank's stock worth $2,193,000 after buying an additional 3,074 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of Southern First Bancshares by 23.4% during the first quarter. Empowered Funds LLC now owns 18,637 shares of the bank's stock worth $614,000 after buying an additional 3,532 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of Southern First Bancshares in the first quarter valued at about $303,000. Finally, Gabelli Funds LLC raised its position in shares of Southern First Bancshares by 14.2% in the second quarter. Gabelli Funds LLC now owns 41,850 shares of the bank's stock valued at $1,592,000 after buying an additional 5,200 shares during the last quarter. 75.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SFST. Weiss Ratings raised shares of Southern First Bancshares from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, May 4th. Wall Street Zen downgraded shares of Southern First Bancshares from a "buy" rating to a "hold" rating in a report on Wednesday, April 29th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $64.00.

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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