Welch & Forbes LLC Purchases New Stake in Southern First Bancshares, Inc. (SFST)

Welch & Forbes LLC purchased a new position in shares of Southern First Bancshares, Inc. (NASDAQ:SFST) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 10,000 shares of the bank’s stock, valued at approximately $393,000. Welch & Forbes LLC owned about 0.13% of Southern First Bancshares as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently modified their holdings of SFST. The Manufacturers Life Insurance Company raised its stake in Southern First Bancshares by 1.8% during the first quarter. The Manufacturers Life Insurance Company now owns 477,584 shares of the bank’s stock worth $21,253,000 after acquiring an additional 8,285 shares during the period. BlackRock Inc. raised its stake in Southern First Bancshares by 10.4% during the second quarter. BlackRock Inc. now owns 344,065 shares of the bank’s stock worth $15,208,000 after acquiring an additional 32,320 shares during the period. Dimensional Fund Advisors LP raised its stake in Southern First Bancshares by 14.9% during the second quarter. Dimensional Fund Advisors LP now owns 225,384 shares of the bank’s stock worth $9,962,000 after acquiring an additional 29,189 shares during the period. Elizabeth Park Capital Advisors Ltd. raised its stake in Southern First Bancshares by 2.6% during the second quarter. Elizabeth Park Capital Advisors Ltd. now owns 197,004 shares of the bank’s stock worth $8,708,000 after acquiring an additional 5,000 shares during the period. Finally, Renaissance Technologies LLC raised its stake in Southern First Bancshares by 51.7% during the second quarter. Renaissance Technologies LLC now owns 156,721 shares of the bank’s stock worth $6,927,000 after acquiring an additional 53,421 shares during the period. 69.41% of the stock is currently owned by institutional investors and hedge funds.

In other news, Director David G. Ellison purchased 1,000 shares of the company’s stock in a transaction on Tuesday, September 18th. The shares were bought at an average price of $40.35 per share, for a total transaction of $40,350.00. Following the completion of the purchase, the director now owns 40,728 shares of the company’s stock, valued at $1,643,374.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO R Arthur Seaver, Jr. sold 18,000 shares of the firm’s 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 owns 44,876 shares in the company, valued at approximately $1,870,431.68. The disclosure for this sale can be found here. 12.85% of the stock is currently owned by company insiders.

Shares of NASDAQ:SFST opened at $36.35 on Friday. Southern First Bancshares, Inc. has a 52 week low of $35.60 and a 52 week high of $48.75. The company has a market capitalization of $278.98 million, a price-to-earnings ratio of 20.65 and a beta of 0.50. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.26.

Southern First Bancshares (NASDAQ:SFST) last announced its quarterly earnings results on Tuesday, July 31st. The bank reported $0.71 EPS for the quarter, beating the consensus estimate of $0.68 by $0.03. Southern First Bancshares had a net margin of 21.88% and a return on equity of 11.13%. Sell-side analysts predict that Southern First Bancshares, Inc. will post 2.76 EPS for the current year.

Several equities research analysts have commented on SFST shares. Zacks Investment Research lowered shares of Southern First Bancshares from a “buy” rating to a “hold” rating in a research note on Wednesday, September 26th. Sandler O’Neill lowered shares of Southern First Bancshares from a “buy” rating to a “hold” rating in a research note on Tuesday, June 26th. Finally, BidaskClub upgraded shares of Southern First Bancshares from a “sell” rating to a “hold” rating in a research note on Saturday, August 11th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. Southern First Bancshares currently has a consensus rating of “Hold” and an average target price of $49.00.

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 certificates of deposit.

Featured Article: Tariff

Institutional Ownership by Quarter for Southern First Bancshares (NASDAQ:SFST)

Receive News & Ratings for Southern First Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southern First Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply