Sheets Smith Wealth Management continued to hold its position in shares of Southern First Bancshares, Inc. (NASDAQ:SFST) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,702 shares of the bank’s stock at the end of the second quarter. Sheets Smith Wealth Management owned approximately 0.21% of Southern First Bancshares worth $508,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently modified their holdings of the stock. Wellington Management Group LLP increased its stake in shares of Southern First Bancshares by 8.1% in the first quarter. Wellington Management Group LLP now owns 415,019 shares of the bank’s stock worth $13,550,000 after buying an additional 31,186 shares during the period. Mendon Capital Advisors Corp increased its stake in shares of Southern First Bancshares by 0.6% in the first quarter. Mendon Capital Advisors Corp now owns 289,852 shares of the bank’s stock worth $9,464,000 after buying an additional 1,605 shares during the period. Vanguard Group Inc. increased its stake in shares of Southern First Bancshares by 2.1% in the first quarter. Vanguard Group Inc. now owns 188,062 shares of the bank’s stock worth $6,140,000 after buying an additional 3,958 shares during the period. State Street Corp raised its stake in 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 last quarter. Finally, Geode Capital Management LLC raised its stake in Southern First Bancshares by 181.4% in the first quarter. Geode Capital Management LLC now owns 57,829 shares of the bank’s stock worth $1,888,000 after buying an additional 37,277 shares during the last quarter. 57.83% of the stock is owned by hedge funds and other institutional investors.
Shares of Southern First Bancshares, Inc. (NASDAQ SFST) traded up 0.27% during midday trading on Tuesday, hitting $36.95. The stock had a trading volume of 176 shares. The firm has a market capitalization of $270.25 million, a PE ratio of 18.97 and a beta of 0.65. The company’s 50 day moving average price is $36.52 and its 200-day moving average price is $34.56. Southern First Bancshares, Inc. has a 1-year low of $24.53 and a 1-year high of $38.55.
Southern First Bancshares (NASDAQ:SFST) last announced its quarterly earnings data on Tuesday, July 25th. The bank reported $0.49 EPS for the quarter, topping the consensus estimate of $0.48 by $0.01. The business had revenue of $14.92 million for the quarter, compared to analyst estimates of $14.21 million. Southern First Bancshares had a net margin of 20.68% and a return on equity of 12.24%. Equities analysts predict that Southern First Bancshares, Inc. will post $2.04 earnings per share for the current year.
A number of analysts have recently issued reports on SFST shares. ValuEngine upgraded Southern First Bancshares from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Keefe, Bruyette & Woods set a $36.00 price objective on Southern First Bancshares and gave the stock a “hold” rating in a report on Tuesday, April 4th. Zacks Investment Research lowered Southern First Bancshares from a “hold” rating to a “sell” rating in a report on Tuesday, May 2nd. Sandler O’Neill upgraded Southern First Bancshares from a “hold” rating to a “buy” rating and increased their price objective for the stock from $35.00 to $38.00 in a report on Monday, May 1st. Finally, BidaskClub downgraded shares of Southern First Bancshares from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $38.33.
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.
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