Southern First Bancshares, Inc. (NASDAQ:SFST) Short Interest Update

Southern First Bancshares, Inc. (NASDAQ:SFST) was the recipient of a large increase in short interest during the month of June. As of June 30th, there was short interest totaling 436,399 shares, an increase of 129.0% from the June 15th total of 190,554 shares. Based on an average daily volume of 204,632 shares, the days-to-cover ratio is presently 2.1 days. Approximately 5.0% of the company’s shares are sold short.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Wall Street Zen downgraded Southern First Bancshares from a “buy” rating to a “hold” rating in a report on Wednesday, April 29th. Weiss Ratings raised Southern First Bancshares from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 4th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $64.00.

Southern First Bancshares Trading Up 1.0%

Shares of NASDAQ:SFST traded up $0.59 during mid-day trading on Wednesday, hitting $62.01. The company had a trading volume of 71,987 shares, compared to its average volume of 112,118. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.10 and a quick ratio of 1.10. Southern First Bancshares has a one year low of $38.30 and a one year high of $63.75. The firm has a fifty day moving average price of $58.70 and a 200 day moving average price of $56.62. The company has a market capitalization of $586.26 million, a PE ratio of 14.49 and a beta of 0.67.

Southern First Bancshares (NASDAQ:SFST) last issued its earnings results on Tuesday, April 21st. The bank reported $1.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.01). Southern First Bancshares had a return on equity of 9.65% and a net margin of 15.21%.The company had revenue of $32.30 million for the quarter, compared to the consensus estimate of $33.10 million. As a group, research analysts forecast that Southern First Bancshares will post 5.05 EPS for the current year.

Insider Activity

In other news, Director Leighton M. Cubbage sold 765 shares of the company’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $60.60, for a total value of $46,359.00. Following the sale, the director directly owned 50,715 shares of the company’s stock, valued at approximately $3,073,329. This represents a 1.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 6.90% of the company’s stock.

Institutional Trading of Southern First Bancshares

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. boosted its holdings in Southern First Bancshares by 40.2% in the fourth quarter. Cullen Frost Bankers Inc. now owns 666 shares of the bank’s stock worth $34,000 after acquiring an additional 191 shares in the last quarter. Advisory Services Network LLC acquired a new position in shares of Southern First Bancshares during the third quarter worth approximately $38,000. BNP Paribas Financial Markets raised its position in shares of Southern First Bancshares by 28.7% during the second quarter. BNP Paribas Financial Markets now owns 1,380 shares of the bank’s stock worth $52,000 after purchasing an additional 308 shares during the period. Tower Research Capital LLC TRC lifted its holdings in shares of Southern First Bancshares by 154.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,633 shares of the bank’s stock worth $62,000 after purchasing an additional 990 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Southern First Bancshares in the 2nd quarter worth $75,000. 75.00% of the stock is owned by institutional investors.

Southern First Bancshares Company Profile

Southern First Bancshares is the bank holding company for Southern First Bank, a community-oriented financial institution headquartered in Greenville, South Carolina. Through its wholly owned subsidiary, the company delivers a full spectrum of commercial and consumer banking services designed to meet the needs of small and midsize businesses, professionals, and individual customers. Southern First Bancshares operates under a relationship-driven model, emphasizing personalized service and local decision–making.

The company’s core offerings include deposit products such as checking, savings, money market accounts and certificates of deposit, alongside an array of lending solutions covering commercial real estate, construction, equipment financing and small business administration (SBA) loans.