Zacks Investment Research Downgrades Southern First Bancshares, Inc. (SFST) to Sell

Zacks Investment Research cut shares of Southern First Bancshares, Inc. (NASDAQ:SFST) from a hold rating to a sell rating in a research note released on Friday.

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. “

Other research analysts have also recently issued research reports about the stock. BidaskClub cut shares of Southern First Bancshares from a buy rating to a hold rating in a report on Wednesday, July 19th. FIG Partners reissued an outperform rating and issued a $42.00 target price (up previously from $40.00) on shares of Southern First Bancshares in a report on Wednesday, October 4th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. The stock has an average rating of Hold and an average price target of $38.67.

Shares of Southern First Bancshares (NASDAQ SFST) opened at 37.15 on Friday. Southern First Bancshares has a 52-week low of $25.85 and a 52-week high of $38.55. The firm has a market cap of $271.72 million, a PE ratio of 19.07 and a beta of 0.65. The firm has a 50-day moving average of $35.69 and a 200 day moving average of $35.20.

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

TRADEMARK VIOLATION WARNING: “Zacks Investment Research Downgrades Southern First Bancshares, Inc. (SFST) to Sell” was first reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this piece of content on another website, it was illegally copied and reposted in violation of U.S. & international copyright legislation. The original version of this piece of content can be accessed at https://ledgergazette.com/2017/10/10/zacks-investment-research-downgrades-southern-first-bancshares-inc-sfst-to-sell.html.

In other news, CFO Michael D. Dowling sold 750 shares of the stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $36.00, for a total value of $27,000.00. Following the completion of the transaction, the chief financial officer now owns 30,507 shares of the company’s stock, valued at $1,098,252. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Fred Gilmer, Jr. sold 1,200 shares of the stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $36.69, for a total transaction of $44,028.00. Following the completion of the transaction, the director now directly owns 50,320 shares of the company’s stock, valued at approximately $1,846,240.80. The disclosure for this sale can be found here. Insiders sold 16,927 shares of company stock valued at $611,937 in the last three months. Company insiders own 14.50% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Bank of America Corp DE raised its holdings in Southern First Bancshares by 7.9% in the 1st quarter. Bank of America Corp DE now owns 3,080 shares of the bank’s stock valued at $100,000 after buying an additional 226 shares during the last quarter. Globeflex Capital L P bought a new position in Southern First Bancshares in the 2nd quarter valued at approximately $112,000. American International Group Inc. raised its holdings in Southern First Bancshares by 7.3% in the 1st quarter. American International Group Inc. now owns 3,534 shares of the bank’s stock valued at $115,000 after buying an additional 239 shares during the last quarter. Rhumbline Advisers bought a new position in Southern First Bancshares in the 2nd quarter valued at approximately $253,000. Finally, Wells Fargo & Company MN raised its holdings in Southern First Bancshares by 22.3% in the 1st quarter. Wells Fargo & Company MN now owns 8,342 shares of the bank’s stock valued at $273,000 after buying an additional 1,519 shares during the last quarter. 70.24% of the stock is owned by hedge funds and other institutional investors.

Southern First Bancshares Company Profile

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.

Get a free copy of the Zacks research report on Southern First Bancshares (SFST)

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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. “

Other research analysts have also recently issued research reports about the stock. BidaskClub cut shares of Southern First Bancshares from a buy rating to a hold rating in a report on Wednesday, July 19th. FIG Partners reissued an outperform rating and issued a $42.00 target price (up previously from $40.00) on shares of Southern First Bancshares in a report on Wednesday, October 4th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. The stock has an average rating of Hold and an average price target of $38.67.

Shares of Southern First Bancshares (NASDAQ SFST) opened at 37.15 on Friday. Southern First Bancshares has a 52-week low of $25.85 and a 52-week high of $38.55. The firm has a market cap of $271.72 million, a PE ratio of 19.07 and a beta of 0.65. The firm has a 50-day moving average of $35.69 and a 200 day moving average of $35.20.

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

TRADEMARK VIOLATION WARNING: “Zacks Investment Research Downgrades Southern First Bancshares, Inc. (SFST) to Sell” was first reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this piece of content on another website, it was illegally copied and reposted in violation of U.S. & international copyright legislation. The original version of this piece of content can be accessed at https://ledgergazette.com/2017/10/10/zacks-investment-research-downgrades-southern-first-bancshares-inc-sfst-to-sell.html.

In other news, CFO Michael D. Dowling sold 750 shares of the stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $36.00, for a total value of $27,000.00. Following the completion of the transaction, the chief financial officer now owns 30,507 shares of the company’s stock, valued at $1,098,252. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Fred Gilmer, Jr. sold 1,200 shares of the stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $36.69, for a total transaction of $44,028.00. Following the completion of the transaction, the director now directly owns 50,320 shares of the company’s stock, valued at approximately $1,846,240.80. The disclosure for this sale can be found here. Insiders sold 16,927 shares of company stock valued at $611,937 in the last three months. Company insiders own 14.50% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Bank of America Corp DE raised its holdings in Southern First Bancshares by 7.9% in the 1st quarter. Bank of America Corp DE now owns 3,080 shares of the bank’s stock valued at $100,000 after buying an additional 226 shares during the last quarter. Globeflex Capital L P bought a new position in Southern First Bancshares in the 2nd quarter valued at approximately $112,000. American International Group Inc. raised its holdings in Southern First Bancshares by 7.3% in the 1st quarter. American International Group Inc. now owns 3,534 shares of the bank’s stock valued at $115,000 after buying an additional 239 shares during the last quarter. Rhumbline Advisers bought a new position in Southern First Bancshares in the 2nd quarter valued at approximately $253,000. Finally, Wells Fargo & Company MN raised its holdings in Southern First Bancshares by 22.3% in the 1st quarter. Wells Fargo & Company MN now owns 8,342 shares of the bank’s stock valued at $273,000 after buying an additional 1,519 shares during the last quarter. 70.24% of the stock is owned by hedge funds and other institutional investors.

Southern First Bancshares Company Profile

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.

Get a free copy of the Zacks research report on Southern First Bancshares (SFST)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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