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

Southern First Bancshares, Inc. (NASDAQ:SFST) saw a large drop in short interest in the month of August. As of August 31st, there was short interest totalling 46,600 shares, a drop of 29.9% from the July 31st total of 66,500 shares. Based on an average daily volume of 18,400 shares, the days-to-cover ratio is presently 2.5 days. Currently, 0.7% of the company’s shares are sold short.

Southern First Bancshares stock traded up $0.13 during trading hours on Friday, reaching $41.63. The stock had a trading volume of 2,767 shares, compared to its average volume of 15,820. The stock has a market cap of $302.09 million, a PE ratio of 14.45 and a beta of 0.98. Southern First Bancshares has a 52 week low of $27.33 and a 52 week high of $42.20. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.04 and a quick ratio of 1.03. The company has a fifty day simple moving average of $38.60 and a 200-day simple moving average of $36.94.

Southern First Bancshares (NASDAQ:SFST) last announced its quarterly earnings results on Friday, August 2nd. The bank reported $0.93 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.93. The business had revenue of $20.63 million for the quarter, compared to analyst estimates of $20.63 million. Southern First Bancshares had a net margin of 25.39% and a return on equity of 13.94%. Research analysts predict that Southern First Bancshares will post 3.35 earnings per share for the current fiscal year.



In related news, CFO Michael D. Dowling sold 2,357 shares of Southern First Bancshares stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $60.08, for a total value of $141,608.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Leighton M. Cubbage sold 1,270 shares of Southern First Bancshares stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $36.01, for a total transaction of $45,732.70. Following the completion of the transaction, the director now owns 84,227 shares in the company, valued at approximately $3,033,014.27. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,177 shares of company stock worth $909,282. 10.51% of the stock is owned by corporate insiders.

Institutional investors have recently made changes to their positions in the business. Mcmillion Capital Management Inc. bought a new stake in Southern First Bancshares in the 2nd quarter worth $42,000. BNP Paribas Arbitrage SA raised its holdings in Southern First Bancshares by 609.8% in the first quarter. BNP Paribas Arbitrage SA now owns 1,448 shares of the bank’s stock worth $49,000 after buying an additional 1,244 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Southern First Bancshares during the first quarter valued at approximately $148,000. JPMorgan Chase & Co. raised its holdings in shares of Southern First Bancshares by 20.7% during the second quarter. JPMorgan Chase & Co. now owns 7,720 shares of the bank’s stock valued at $297,000 after purchasing an additional 1,322 shares during the last quarter. Finally, Greenwood Capital Associates LLC grew its position in Southern First Bancshares by 4.3% during the second quarter. Greenwood Capital Associates LLC now owns 8,400 shares of the bank’s stock valued at $329,000 after buying an additional 348 shares during the period. 73.73% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts recently commented on the stock. BidaskClub upgraded shares of Southern First Bancshares from a “hold” rating to a “buy” rating in a research report on Friday. Zacks Investment Research raised shares of Southern First Bancshares from a “hold” rating to a “strong-buy” rating and set a $42.00 price target on the stock in a report on Friday, August 9th. Finally, FIG Partners reissued an “outperform” rating on shares of Southern First Bancshares in a report on Thursday, May 16th.

Southern First Bancshares Company 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 long-term certificates of deposit.

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