Southern First Bancshares (NASDAQ:SFST) Director Sells 253 Shares of Stock

Key Points

• Insider sale: Director Ray Lattimore sold 253 Southern First Bancshares shares at an average price of $59.28, worth approximately $15,000, reducing his ownership by 18.33%.
• Stock performance and earnings: SFST shares fell 1.8% to $61.36, while the bank reported quarterly EPS of $1.20, slightly exceeding analyst expectations of $1.19.
• Analyst sentiment remains positive: The stock carries an average “Buy” rating and a $64 price target, although rating changes were mixed; institutional investors own approximately 75% of the company.

Southern First Bancshares, Inc. (NASDAQ:SFST - Get Free Report) Director Ray Lattimore sold 253 shares of the stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $59.28, for a total value of $14,997.84. Following the transaction, the director owned 1,127 shares of the company's stock, valued at approximately $66,808.56. This trade represents a 18.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Southern First Bancshares Stock Down 1.8%

Shares of NASDAQ:SFST traded down $1.13 during midday trading on Wednesday, reaching $61.36. The company had a trading volume of 94,372 shares, compared to its average volume of 113,338. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.10 and a quick ratio of 1.10. The stock's fifty day moving average price is $59.84 and its 200-day moving average price is $57.29. The stock has a market capitalization of $580.47 million, a P/E ratio of 13.14 and a beta of 0.67. Southern First Bancshares, Inc. has a one year low of $38.30 and a one year high of $64.06.

Southern First Bancshares (NASDAQ:SFST - Get Free Report) last posted its quarterly earnings data on Tuesday, July 21st. The bank reported $1.20 EPS for the quarter, beating analysts' consensus estimates of $1.19 by $0.01. The firm had revenue of $20.40 million for the quarter, compared to the consensus estimate of $36.30 million. Southern First Bancshares had a net margin of 16.78% and a return on equity of 10.76%. Equities research analysts expect that Southern First Bancshares, Inc. will post 5.45 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SFST. Zacks Research raised shares of Southern First Bancshares from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 22nd. Weiss Ratings raised Southern First Bancshares from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, May 4th. Finally, Wall Street Zen cut Southern First Bancshares from a "buy" rating to a "hold" rating in a research note on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $64.00.

Hedge Funds Weigh In On Southern First Bancshares

Hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada raised its holdings in shares of Southern First Bancshares by 2.6% during the first quarter. Royal Bank of Canada now owns 34,910 shares of the bank's stock worth $1,149,000 after purchasing an additional 890 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Southern First Bancshares by 4.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 66,603 shares of the bank's stock valued at $2,193,000 after buying an additional 3,074 shares during the period. Empowered Funds LLC boosted its holdings in shares of Southern First Bancshares by 23.4% in the 1st quarter. Empowered Funds LLC now owns 18,637 shares of the bank's stock valued at $614,000 after buying an additional 3,532 shares during the period. Jane Street Group LLC bought a new stake in shares of Southern First Bancshares during the 1st quarter valued at about $303,000. Finally, Gabelli Funds LLC grew its position in shares of Southern First Bancshares by 14.2% during the 2nd 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. 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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