ValuEngine Downgrades Southern First Bancshares, Inc. (SFST) to Hold

Southern First Bancshares, Inc. (NASDAQ:SFST) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued on Thursday, May 11th.

A number of other equities research analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of Southern First Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday, May 2nd. Sandler O’Neill raised shares of Southern First Bancshares from a “hold” rating to a “buy” rating and upped their target price for the company from $35.00 to $38.00 in a report on Monday, May 1st. Finally, Keefe, Bruyette & Woods set a $36.00 target price on shares of Southern First Bancshares and gave the company a “hold” rating in a report on Tuesday, April 4th.

Southern First Bancshares (NASDAQ SFST) opened at 35.95 on Thursday. The company has a 50-day moving average price of $34.98 and a 200-day moving average price of $34.03. The stock has a market cap of $232.96 million, a price-to-earnings ratio of 18.45 and a beta of 0.63. Southern First Bancshares has a 52 week low of $22.30 and a 52 week high of $38.55.

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In other news, Director Leighton M. Cubbage sold 965 shares of the company’s stock in a transaction dated Monday, March 27th. The shares were sold at an average price of $31.91, for a total value of $30,793.15. Following the completion of the sale, the director now directly owns 88,654 shares of the company’s stock, valued at $2,828,949.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 14.50% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Wells Fargo & Company MN boosted its position in Southern First Bancshares by 91.0% in the third quarter. Wells Fargo & Company MN now owns 4,617 shares of the bank’s stock valued at $128,000 after buying an additional 2,200 shares in the last quarter. Acrospire Investment Management LLC raised its position in shares of Southern First Bancshares by 15.4% in the third quarter. Acrospire Investment Management LLC now owns 4,879 shares of the bank’s stock valued at $135,000 after buying an additional 650 shares during the last quarter. Russell Investments Group Ltd. bought a new position in shares of Southern First Bancshares during the fourth quarter valued at $221,000. Bessemer Group Inc. raised its stake in Southern First Bancshares by 34.2% in the fourth quarter. Bessemer Group Inc. now owns 5,100 shares of the bank’s stock valued at $184,000 after buying an additional 1,300 shares in the last quarter. Finally, State Street Corp raised its stake in Southern First Bancshares by 10.0% in the fourth quarter. State Street Corp now owns 74,133 shares of the bank’s stock valued at $2,669,000 after buying an additional 6,728 shares in the last quarter. 57.83% of the stock is owned by hedge funds and other institutional investors.

Southern First Bancshares Company Profile

Southern First Bancshares, Inc is a bank holding company that owns the capital stock of Southern First Bank (the Bank), a South Carolina state bank, and all of the stock of Greenville First Statutory Trust I and II (the Trusts). The Bank is a commercial bank with approximately nine retail offices located in Greenville, Columbia and Charleston, South Carolina.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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