Southern First Bancshares (NASDAQ:SFST) Sets New 12-Month High - Here's What Happened

Key Points

• Southern First Bancshares shares reached a new 52-week high of $64.54 and were last trading around $64.56, up 1.9% from the prior close.
• Analyst sentiment remains positive overall, with an average “Buy” rating and a $64.00 price target, although one firm recently downgraded the stock to “Hold.”
• The bank reported quarterly EPS of $1.20, slightly above estimates, while institutional investors own approximately 75% of the company and insiders own 6.9%.

Southern First Bancshares, Inc. (NASDAQ:SFST - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $64.54 and last traded at $64.5640, with a volume of 25968 shares. The stock had previously closed at $63.45.

Analysts Set New Price Targets

SFST has been the topic of several recent analyst reports. Zacks Research raised Southern First Bancshares from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 22nd. Weiss Ratings restated a "buy (b)" rating on shares of Southern First Bancshares in a research report on Friday. Finally, Wall Street Zen lowered shares of Southern First Bancshares from a "buy" rating to a "hold" rating in a research note on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Buy" and an average target price of $64.00.

Southern First Bancshares Stock Up 1.9%

The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.70. The firm has a market cap of $611.45 million, a P/E ratio of 13.85 and a beta of 0.68. The business has a 50-day moving average price of $60.24 and a 200-day moving average price of $57.55.

Southern First Bancshares (NASDAQ:SFST - Get Free Report) last posted its quarterly earnings results on Tuesday, July 21st. The bank reported $1.20 EPS for the quarter, beating the consensus estimate of $1.19 by $0.01. The business had revenue of $20.40 million during the quarter, compared to analyst estimates of $36.30 million. Southern First Bancshares had a net margin of 16.78% and a return on equity of 10.76%. On average, equities analysts forecast that Southern First Bancshares, Inc. will post 5.4 EPS for the current fiscal year.

Insider Transactions at Southern First Bancshares

In other Southern First Bancshares news, Director Leighton M. Cubbage sold 765 shares of the business's stock in a transaction dated Wednesday, June 10th. The shares were 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 approximately $3,073,329. The trade was a 1.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 6.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Southern First Bancshares

A number of large investors have recently made changes to their positions in SFST. Cullen Frost Bankers Inc. raised its position in shares of Southern First Bancshares by 40.2% in the 4th quarter. Cullen Frost Bankers Inc. now owns 666 shares of the bank's stock valued at $34,000 after purchasing an additional 191 shares during the last quarter. Advisory Services Network LLC acquired a new stake in shares of Southern First Bancshares in the third quarter worth $38,000. BNP Paribas Financial Markets grew its position in Southern First Bancshares by 28.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,380 shares of the bank's stock worth $52,000 after purchasing an additional 308 shares during the period. Tower Research Capital LLC TRC grew its holdings in Southern First Bancshares by 154.0% during the second quarter. Tower Research Capital LLC TRC now owns 1,633 shares of the bank's stock worth $62,000 after acquiring an additional 990 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of Southern First Bancshares during the 2nd quarter worth approximately $75,000. 75.00% of the stock is owned by institutional investors and hedge funds.

Southern First Bancshares Company Profile

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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