Southern First Bancshares (NASDAQ:SFST) Hits New 1-Year High – Here’s Why

Southern First Bancshares, Inc. (NASDAQ:SFST)’s share price hit a new 52-week high on Thursday . The company traded as high as $65.09 and last traded at $64.50, with a volume of 2107 shares trading hands. The stock had previously closed at $64.10.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on SFST shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Southern First Bancshares in a research note on Friday, July 31st. Wall Street Zen cut Southern First Bancshares from a “buy” rating to a “hold” rating in a report on Wednesday, April 29th. Finally, Zacks Research upgraded Southern First Bancshares from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $64.00.

Southern First Bancshares Stock Up 1.3%

The company has a debt-to-equity ratio of 0.03, a current ratio of 1.04 and a quick ratio of 1.04. The company has a market capitalization of $614.57 million, a PE ratio of 13.88 and a beta of 0.68. The business’s 50 day simple moving average is $61.11 and its 200 day simple moving average is $57.94.

Southern First Bancshares (NASDAQ:SFST) last posted its quarterly earnings results on Tuesday, July 21st. The bank reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.01. The business had revenue of $20.40 million during the quarter, compared to analysts’ expectations of $36.30 million. Southern First Bancshares had a net margin of 16.78% and a return on equity of 10.18%. As a group, analysts anticipate that Southern First Bancshares, Inc. will post 5.4 earnings per share for the current fiscal year.

Insider Activity at Southern First Bancshares

In related news, CAO Julie Ann Fairchild sold 1,500 shares of the stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $63.00, for a total value of $94,500.00. Following the completion of the transaction, the chief accounting officer directly owned 5,200 shares in the company, valued at approximately $327,600. This represents a 22.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Leighton M. Cubbage sold 765 shares of the firm’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $60.60, for a total value of $46,359.00. Following the sale, the director directly owned 50,715 shares of the company’s stock, valued at approximately $3,073,329. This trade represents a 1.49% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 2,518 shares of company stock valued at $155,857 over the last quarter. 6.90% of the stock is currently owned by company insiders.

Institutional Trading of Southern First Bancshares

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Sei Investments Co. increased its position in shares of Southern First Bancshares by 147.3% during the first quarter. Sei Investments Co. now owns 34,706 shares of the bank’s stock valued at $1,891,000 after acquiring an additional 20,673 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Southern First Bancshares by 17.7% in the 1st quarter. Renaissance Technologies LLC now owns 150,607 shares of the bank’s stock worth $8,208,000 after acquiring an additional 22,700 shares during the last quarter. Azora Capital LP acquired a new position in shares of Southern First Bancshares in the 4th quarter worth approximately $645,000. Gabelli Funds LLC boosted its position in shares of Southern First Bancshares by 39.7% during the 4th quarter. Gabelli Funds LLC now owns 60,578 shares of the bank’s stock worth $3,121,000 after purchasing an additional 17,228 shares during the period. Finally, Assenagon Asset Management S.A. boosted its position in shares of Southern First Bancshares by 89.2% during the 1st quarter. Assenagon Asset Management S.A. now owns 24,495 shares of the bank’s stock worth $1,335,000 after purchasing an additional 11,545 shares during the period. 75.00% of the stock is currently owned by hedge funds and other institutional investors.

Southern First Bancshares Company Profile

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.