Rhumbline Advisers bought a new position in shares of Southern First Bancshares, Inc. (NASDAQ:SFST) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 6,816 shares of the bank’s stock, valued at approximately $253,000. Rhumbline Advisers owned approximately 0.09% of Southern First Bancshares as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Bank of America Corp DE grew its position in Southern First Bancshares by 7.9% during the first quarter. Bank of America Corp DE now owns 3,080 shares of the bank’s stock worth $100,000 after buying an additional 226 shares in the last quarter. American International Group Inc. grew its position in Southern First Bancshares by 7.3% during the first quarter. American International Group Inc. now owns 3,534 shares of the bank’s stock worth $115,000 after buying an additional 239 shares in the last quarter. Wells Fargo & Company MN grew its position in Southern First Bancshares by 22.3% during the first quarter. Wells Fargo & Company MN now owns 8,342 shares of the bank’s stock worth $273,000 after buying an additional 1,519 shares in the last quarter. Bank of New York Mellon Corp grew its position in Southern First Bancshares by 20.0% during the first quarter. Bank of New York Mellon Corp now owns 18,639 shares of the bank’s stock worth $608,000 after buying an additional 3,112 shares in the last quarter. Finally, First Trust Advisors LP acquired a new stake in Southern First Bancshares during the second quarter worth about $616,000. 70.24% of the stock is currently owned by institutional investors and hedge funds.

Southern First Bancshares, Inc. (SFST) opened at 37.15 on Friday. Southern First Bancshares, Inc. has a 52 week low of $25.85 and a 52 week high of $38.55. The company has a market cap of $271.72 million, a PE ratio of 19.07 and a beta of 0.65. The firm’s 50-day moving average is $35.85 and its 200-day moving average is $35.26.

Southern First Bancshares (NASDAQ:SFST) last announced its earnings results on Tuesday, July 25th. The bank reported $0.49 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.01. Southern First Bancshares had a net margin of 20.68% and a return on equity of 11.39%. The firm had revenue of $14.92 million for the quarter, compared to analyst estimates of $14.21 million. On average, analysts expect that Southern First Bancshares, Inc. will post $2.01 EPS for the current fiscal year.

SFST has been the subject of a number of analyst reports. BidaskClub cut shares of Southern First Bancshares from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. FIG Partners restated an “outperform” rating and set a $42.00 price target (up previously from $40.00) on shares of Southern First Bancshares in a research note on Wednesday, October 4th. Finally, Zacks Investment Research cut shares of Southern First Bancshares from a “hold” rating to a “sell” rating in a research note on Friday, October 6th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $38.67.

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In other Southern First Bancshares news, CFO Michael D. Dowling sold 4,500 shares of the stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $36.38, for a total transaction of $163,710.00. Following the transaction, the chief financial officer now owns 39,614 shares in the company, valued at approximately $1,441,157.32. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Michael D. Dowling sold 5,850 shares of the stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $36.00, for a total transaction of $210,600.00. Following the transaction, the chief financial officer now owns 36,107 shares in the company, valued at approximately $1,299,852. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,927 shares of company stock worth $611,937. Company insiders own 14.50% of the company’s stock.

About Southern First Bancshares

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.

Institutional Ownership by Quarter for Southern First Bancshares (NASDAQ:SFST)

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