Zacks Investment Research upgraded shares of Southern First Bancshares, Inc. (NASDAQ:SFST) from a sell rating to a hold rating in a research report released on Wednesday, June 28th.
According to Zacks, “Greenville First Bancshares, Inc. is the holding company for Greenville First Bank, N.A., a national banking association chartered under the laws of the United States. “
A number of other equities research analysts also recently weighed in on SFST. ValuEngine downgraded Southern First Bancshares from a buy rating to a hold rating in a research report on Thursday, May 11th. Keefe, Bruyette & Woods set a $36.00 price target on Southern First Bancshares and gave the company a hold rating in a research report on Tuesday, April 4th. Finally, Sandler O’Neill upgraded Southern First Bancshares from a hold rating to a buy rating and raised their price target for the company from $35.00 to $38.00 in a research report on Monday, May 1st. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Southern First Bancshares currently has a consensus rating of Hold and a consensus price target of $38.33.
Southern First Bancshares (SFST) traded down 0.13% on Wednesday, hitting $37.05. The company had a trading volume of 4,694 shares. The company has a market capitalization of $270.98 million, a P/E ratio of 19.02 and a beta of 0.65. The stock’s 50-day moving average price is $36.47 and its 200 day moving average price is $34.57. Southern First Bancshares has a one year low of $24.53 and a one year high of $38.55.
Southern First Bancshares (NASDAQ:SFST) last released its quarterly earnings results on Tuesday, July 25th. The bank reported $0.49 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.01. Southern First Bancshares had a return on equity of 12.24% and a net margin of 20.68%. The business had revenue of $14.92 million for the quarter, compared to the consensus estimate of $14.21 million. On average, analysts expect that Southern First Bancshares will post $2.04 EPS for the current fiscal year.
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Hedge funds and other institutional investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. bought a new position in shares of Southern First Bancshares during the fourth quarter worth about $221,000. Bessemer Group Inc. boosted its position in shares of Southern First Bancshares by 34.2% in the fourth quarter. Bessemer Group Inc. now owns 5,100 shares of the bank’s stock worth $184,000 after buying an additional 1,300 shares during the period. State Street Corp boosted its position in shares of Southern First Bancshares by 10.0% in the fourth quarter. State Street Corp now owns 74,133 shares of the bank’s stock worth $2,669,000 after buying an additional 6,728 shares during the period. Martingale Asset Management L P bought a new position in shares of Southern First Bancshares during the fourth quarter worth about $353,000. Finally, Renaissance Technologies LLC boosted its position in shares of Southern First Bancshares by 13.9% in the fourth quarter. Renaissance Technologies LLC now owns 37,700 shares of the bank’s stock worth $1,357,000 after buying an additional 4,600 shares during the period. 57.83% of the stock is currently owned by hedge funds and other institutional investors.
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.
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