Southern First Bancshares (NASDAQ:SFST) Rating Increased to Sell at ValuEngine

Southern First Bancshares (NASDAQ:SFST) was upgraded by equities research analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a research report issued on Wednesday, ValuEngine reports.

Several other research analysts also recently issued reports on the stock. BidaskClub downgraded shares of Southern First Bancshares from a “hold” rating to a “sell” rating in a report on Tuesday, January 7th. Zacks Investment Research downgraded shares of Southern First Bancshares from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 9th.

SFST traded down $0.58 during trading on Wednesday, hitting $41.20. The stock had a trading volume of 9,998 shares, compared to its average volume of 10,471. The firm has a market cap of $325.16 million, a PE ratio of 12.08 and a beta of 0.96. Southern First Bancshares has a 12 month low of $31.51 and a 12 month high of $44.43. The company has a current ratio of 1.05, a quick ratio of 1.03 and a debt-to-equity ratio of 0.31. The company has a 50 day simple moving average of $42.68 and a 200-day simple moving average of $40.57.

Southern First Bancshares (NASDAQ:SFST) last announced its earnings results on Friday, November 1st. The bank reported $0.95 EPS for the quarter, topping the consensus estimate of $0.83 by $0.12. Southern First Bancshares had a net margin of 25.48% and a return on equity of 14.23%. The firm had revenue of $21.68 million for the quarter, compared to the consensus estimate of $20.89 million.

In other news, President F Justin Strickland sold 4,996 shares of Southern First Bancshares stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $40.50, for a total transaction of $202,338.00. Following the sale, the president now directly owns 82,559 shares in the company, valued at approximately $3,343,639.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO R Arthur Seaver, Jr. sold 7,871 shares of Southern First Bancshares stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $40.53, for a total transaction of $319,011.63. Following the sale, the chief executive officer now owns 82,262 shares in the company, valued at $3,334,078.86. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,049 shares of company stock worth $1,080,489. Insiders own 10.51% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. boosted its position in Southern First Bancshares by 20.7% in the second quarter. JPMorgan Chase & Co. now owns 7,720 shares of the bank’s stock valued at $297,000 after buying an additional 1,322 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Southern First Bancshares by 5.5% in the second quarter. Charles Schwab Investment Management Inc. now owns 16,086 shares of the bank’s stock valued at $630,000 after buying an additional 834 shares in the last quarter. BlackRock Inc. boosted its position in Southern First Bancshares by 4.9% in the second quarter. BlackRock Inc. now owns 398,092 shares of the bank’s stock valued at $15,589,000 after buying an additional 18,521 shares in the last quarter. Bank of America Corp DE boosted its position in Southern First Bancshares by 7.4% in the second quarter. Bank of America Corp DE now owns 28,999 shares of the bank’s stock valued at $1,136,000 after buying an additional 1,996 shares in the last quarter. Finally, Morgan Stanley boosted its position in Southern First Bancshares by 237.3% in the second quarter. Morgan Stanley now owns 13,632 shares of the bank’s stock valued at $533,000 after buying an additional 9,591 shares in the last quarter. Institutional investors and hedge funds own 74.13% of the company’s stock.

Southern First Bancshares Company Profile

Southern First Bancshares, Inc operates as the bank holding company for Southern First Bank that provides various banking products and services to general public in South Carolina, North Carolina, and Georgia. It accepts various deposit products that include checking accounts, commercial checking accounts, savings accounts, and other time deposits, including daily money market accounts and long-term certificates of deposit.

See Also: Golden Cross

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

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