Banc Funds Co. LLC lessened its holdings in shares of Southern First Bancshares, Inc. (NASDAQ:SFST) by 8.1% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 472,231 shares of the bank’s stock after selling 41,606 shares during the quarter. Southern First Bancshares accounts for about 1.1% of Banc Funds Co. LLC’s investment portfolio, making the stock its 15th largest holding. Banc Funds Co. LLC owned approximately 6.34% of Southern First Bancshares worth $18,559,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of SFST. Rhumbline Advisers increased its position in Southern First Bancshares by 25.1% during the 2nd quarter. Rhumbline Advisers now owns 6,876 shares of the bank’s stock worth $304,000 after purchasing an additional 1,379 shares in the last quarter. Bessemer Group Inc. grew its position in Southern First Bancshares by 810.0% in the third quarter. Bessemer Group Inc. now owns 9,100 shares of the bank’s stock valued at $358,000 after acquiring an additional 8,100 shares in the last quarter. Welch & Forbes LLC acquired a new stake in Southern First Bancshares in the third quarter valued at approximately $393,000. Globeflex Capital L P grew its position in Southern First Bancshares by 14.8% in the second quarter. Globeflex Capital L P now owns 9,300 shares of the bank’s stock valued at $411,000 after acquiring an additional 1,200 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its position in Southern First Bancshares by 9,517.2% in the second quarter. Tower Research Capital LLC TRC now owns 9,521 shares of the bank’s stock valued at $421,000 after acquiring an additional 9,422 shares in the last quarter. 68.69% of the stock is owned by hedge funds and other institutional investors.
In other Southern First Bancshares news, Director Leighton M. Cubbage sold 765 shares of the stock in a transaction that occurred on Tuesday, September 25th. The shares were sold at an average price of $40.10, for a total value of $30,676.50. Following the completion of the sale, the director now owns 86,407 shares of the company’s stock, valued at $3,464,920.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO R Arthur Seaver, Jr. sold 18,000 shares of the stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $41.68, for a total transaction of $750,240.00. Following the completion of the sale, the chief executive officer now directly owns 44,876 shares of the company’s stock, valued at approximately $1,870,431.68. The disclosure for this sale can be found here. Insiders sold 20,195 shares of company stock valued at $833,112 in the last ninety days. 12.85% of the stock is owned by corporate insiders.
Shares of NASDAQ:SFST opened at $37.77 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.07 and a quick ratio of 1.07. Southern First Bancshares, Inc. has a 52-week low of $34.66 and a 52-week high of $48.75. The company has a market capitalization of $275.81 million, a price-to-earnings ratio of 21.53 and a beta of 0.62.
Southern First Bancshares (NASDAQ:SFST) last issued its quarterly earnings data on Tuesday, October 23rd. The bank reported $0.75 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.05. Southern First Bancshares had a net margin of 22.71% and a return on equity of 11.76%. On average, analysts anticipate that Southern First Bancshares, Inc. will post 2.84 EPS for the current fiscal year.
Several analysts have issued reports on SFST shares. BidaskClub downgraded shares of Southern First Bancshares from a “hold” rating to a “sell” rating in a research report on Friday, August 17th. Zacks Investment Research raised shares of Southern First Bancshares from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a research report on Thursday, November 22nd. Finally, ValuEngine downgraded shares of Southern First Bancshares from a “hold” rating to a “sell” rating in a research report on Wednesday, November 7th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company’s stock. Southern First Bancshares presently has a consensus rating of “Hold” and an average price target of $41.00.
Southern First Bancshares Profile
Southern First Bancshares, Inc operates as the bank holding company for Southern First Bank that provides various banking products and services to general public in South Carolina, North Carolina, and Georgia. It accepts various deposit products that include checking accounts, commercial checking accounts, savings accounts, and other time deposits, including daily money market accounts and certificates of deposit.
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