Southern First Bancshares, Inc. (NASDAQ:SFST) was the recipient of a significant decline in short interest in the month of January. As of January 15th, there was short interest totalling 34,200 shares, a decline of 34.1% from the December 31st total of 51,900 shares. Approximately 0.5% of the company’s shares are sold short. Based on an average daily trading volume, of 13,000 shares, the short-interest ratio is currently 2.6 days.
SFST has been the topic of several analyst reports. Zacks Investment Research downgraded Southern First Bancshares from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 9th. ValuEngine upgraded Southern First Bancshares from a “strong sell” rating to a “sell” rating in a report on Wednesday. Finally, BidaskClub downgraded Southern First Bancshares from a “hold” rating to a “sell” rating in a report on Tuesday, January 7th.
In other news, President F Justin Strickland sold 4,996 shares of Southern First Bancshares stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $40.50, for a total value of $202,338.00. Following the transaction, the president now owns 82,559 shares in the company, valued at $3,343,639.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO R Arthur Seaver, Jr. sold 2,198 shares of Southern First Bancshares stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $40.50, for a total value of $89,019.00. Following the completion of the transaction, the chief executive officer now owns 82,262 shares in the company, valued at approximately $3,331,611. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,049 shares of company stock worth $1,080,489. Company insiders own 10.51% of the company’s stock.
NASDAQ:SFST traded down $1.09 during mid-day trading on Friday, reaching $40.68. 29,991 shares of the company’s stock traded hands, compared to its average volume of 11,225. Southern First Bancshares has a 12-month low of $31.51 and a 12-month high of $44.43. The firm has a market capitalization of $318.23 million, a price-to-earnings ratio of 11.93 and a beta of 0.96. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.05 and a quick ratio of 1.03. The company has a 50 day moving average price of $42.67 and a 200-day moving average price of $40.59.
Southern First Bancshares (NASDAQ:SFST) last announced its quarterly earnings results on Friday, November 1st. The bank reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.12. Southern First Bancshares had a return on equity of 14.23% and a net margin of 25.48%. The company had revenue of $21.68 million for the quarter, compared to the consensus estimate of $20.89 million.
About Southern First Bancshares
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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