Southern First Bancshares (NASDAQ:SFST) Issues Quarterly Earnings Results

Southern First Bancshares (NASDAQ:SFST) issued its quarterly earnings results on Tuesday. The bank reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.03, FiscalAI reports. Southern First Bancshares had a return on equity of 10.79% and a net margin of 17.93%. The business had revenue of $37.53 million for the quarter, compared to analyst estimates of $37.60 million.

Southern First Bancshares Stock Down 1.4%

Southern First Bancshares stock opened at $60.07 on Thursday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.10 and a current ratio of 1.11. The business’s 50-day simple moving average is $61.54 and its two-hundred day simple moving average is $60.01. The company has a market cap of $568.26 million, a PE ratio of 12.49 and a beta of 0.71. Southern First Bancshares has a fifty-two week low of $40.91 and a fifty-two week high of $65.09.

Analyst Ratings Changes

Several equities analysts have recently issued reports on SFST shares. Zacks Research downgraded shares of Southern First Bancshares from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of Southern First Bancshares in a research note on Friday, July 31st. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $64.00.

Insider Transactions at Southern First Bancshares

In other news, Director Leighton Cubbage sold 1,200 shares of the firm’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $62.26, for a total value of $74,712.00. Following the completion of the transaction, the director directly owned 47,100 shares in the company, valued at $2,932,446. This trade represents a 2.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Julie Fairchild sold 1,500 shares of the firm’s stock in a transaction dated 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 owned 5,200 shares of the company’s stock, valued at approximately $327,600. The trade was a 22.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 5,615 shares of company stock worth $351,739 over the last three months. Corporate insiders own 6.90% of the company’s stock.

About Southern First Bancshares

Southern First Bancshares, Inc is a bank holding company headquartered in Greenville, South Carolina. Through its subsidiary, Southern First Bank, the company provides banking and financial services to businesses, professionals and individuals.

Southern First Bank offers commercial and consumer deposit accounts, residential and commercial real estate loans, business loans, construction and development financing, and other credit products. Its services also include treasury and cash-management solutions, online and mobile banking, and related personal and business banking services.

Founded in 1999, Southern First serves customers through banking offices in South Carolina and North Carolina, including markets such as Greenville, Columbia and Charleston, South Carolina, and the Charlotte, North Carolina, area.