Sheets Smith Wealth Management Cuts Stock Holdings in Southern First Bancshares, Inc. (NASDAQ:SFST)

Sheets Smith Wealth Management lowered its position in Southern First Bancshares, Inc. (NASDAQ:SFST) by 3.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,701 shares of the bank’s stock after selling 550 shares during the period. Sheets Smith Wealth Management owned about 0.18% of Southern First Bancshares worth $545,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SFST. Wellington Management Group LLP increased its holdings in Southern First Bancshares by 4.7% during the third quarter. Wellington Management Group LLP now owns 118,815 shares of the bank’s stock worth $3,201,000 after buying an additional 5,300 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of Southern First Bancshares by 16.9% in the fourth quarter. Russell Investments Group Ltd. now owns 61,800 shares of the bank’s stock valued at $2,293,000 after purchasing an additional 8,938 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of Southern First Bancshares by 212.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 32,479 shares of the bank’s stock valued at $875,000 after buying an additional 22,070 shares in the last quarter. Fifth Third Bancorp purchased a new position in Southern First Bancshares in the 3rd quarter valued at approximately $809,000. Finally, Barclays PLC grew its position in shares of Southern First Bancshares by 2.7% in the third quarter. Barclays PLC now owns 19,140 shares of the bank’s stock valued at $516,000 after purchasing an additional 496 shares in the last quarter. 75.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Southern First Bancshares from a “sell” rating to a “hold” rating in a research note on Friday.

Southern First Bancshares Price Performance

Shares of SFST traded up $0.08 during midday trading on Monday, reaching $26.53. The stock had a trading volume of 5,027 shares, compared to its average volume of 21,492. The company has a market capitalization of $216.48 million, a price-to-earnings ratio of 16.13 and a beta of 0.82. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.88. Southern First Bancshares, Inc. has a 12-month low of $21.65 and a 12-month high of $39.36. The company’s 50-day moving average is $29.69 and its 200 day moving average is $31.77.

Insider Activity

In related news, CEO R Arthur Seaver, Jr. sold 996 shares of Southern First Bancshares stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $31.25, for a total value of $31,125.00. Following the sale, the chief executive officer now owns 83,470 shares in the company, valued at $2,608,437.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO R Arthur Seaver, Jr. sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $31.13, for a total transaction of $77,825.00. Following the completion of the sale, the chief executive officer now owns 90,970 shares of the company’s stock, valued at $2,831,896.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO R Arthur Seaver, Jr. sold 996 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $31.25, for a total value of $31,125.00. Following the completion of the transaction, the chief executive officer now directly owns 83,470 shares in the company, valued at $2,608,437.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,113 shares of company stock valued at $126,277. Insiders own 7.62% of the company’s stock.

About Southern First Bancshares

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