Southern First Bancshares (NASDAQ:SFST) Shares Down 4.4% - Here's What Happened

Key Points

• Southern First Bancshares shares fell 4.4% in Tuesday trading, touching an intraday low of $58.45 before last trading at $58.70, well below the prior close of $61.39.
• Analyst sentiment remains mixed but positive overall: one firm downgraded the stock to Hold, another upgraded it, and MarketBeat still shows a Moderate Buy rating with a $64.00 average target price.
• Recent earnings showed a small EPS beat but weaker revenue, as the company reported $1.20 per share versus the $1.19 estimate, while revenue came in at $20.40 million versus expectations of $36.30 million.

Shares of Southern First Bancshares, Inc. (NASDAQ:SFST - Get Free Report) traded down 4.4% during mid-day trading on Tuesday . The stock traded as low as $58.45 and last traded at $58.70. 10,609 shares traded hands during trading, a decline of 91% from the average session volume of 111,827 shares. The stock had previously closed at $61.39.

Analyst Upgrades and Downgrades

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

Southern First Bancshares Trading Down 1.1%

The stock has a market cap of $574.47 million, a PE ratio of 14.19 and a beta of 0.67. The business's fifty day moving average is $59.16 and its 200 day moving average is $56.90. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.70.

Southern First Bancshares (NASDAQ:SFST - Get Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The bank reported $1.20 earnings per share for the quarter, beating analysts' consensus estimates of $1.19 by $0.01. Southern First Bancshares had a return on equity of 9.65% and a net margin of 15.21%.The business had revenue of $20.40 million during the quarter, compared to analysts' expectations of $36.30 million. As a group, analysts predict that Southern First Bancshares, Inc. will post 5.05 earnings per share for the current year.

Insider Activity at Southern First Bancshares

In other news, Director Leighton M. Cubbage sold 765 shares of the business's stock in a transaction that occurred on 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 owned 50,715 shares of the company's stock, valued at $3,073,329. The trade was a 1.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 6.90% of the stock is currently owned by company insiders.

Institutional Trading of Southern First Bancshares

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

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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