FIG Partners Weighs in on Southern First Bancshares, Inc.’s Q3 2017 Earnings (SFST)

Southern First Bancshares, Inc. (NASDAQ:SFST) – Research analysts at FIG Partners decreased their Q3 2017 EPS estimates for shares of Southern First Bancshares in a research note issued on Tuesday. FIG Partners analyst C. Marinac now expects that the bank will post earnings per share of $0.50 for the quarter, down from their previous forecast of $0.54. FIG Partners currently has a “Outperform” rating and a $42.00 target price on the stock. FIG Partners also issued estimates for Southern First Bancshares’ Q4 2017 earnings at $0.54 EPS, FY2017 earnings at $1.99 EPS, Q1 2018 earnings at $0.56 EPS, Q3 2018 earnings at $0.63 EPS, Q4 2018 earnings at $0.67 EPS and FY2018 earnings at $2.45 EPS.

Separately, BidaskClub downgraded shares of Southern First Bancshares from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. Southern First Bancshares has an average rating of “Hold” and an average price target of $38.67.

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Shares of Southern First Bancshares (NASDAQ:SFST) opened at 37.00 on Thursday. The company has a market capitalization of $270.62 million, a P/E ratio of 18.99 and a beta of 0.65. Southern First Bancshares has a one year low of $25.85 and a one year high of $38.55. The firm has a 50-day moving average of $35.59 and a 200-day moving average of $35.11.

Southern First Bancshares (NASDAQ:SFST) last issued its quarterly earnings results on Tuesday, July 25th. The bank reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. Southern First Bancshares had a net margin of 20.68% and a return on equity of 11.39%. The firm had revenue of $14.92 million during the quarter, compared to the consensus estimate of $14.21 million.

In other Southern First Bancshares news, Director Fred Gilmer, Jr. sold 1,200 shares of the company’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $36.69, for a total value of $44,028.00. Following the transaction, the director now directly owns 50,320 shares in the company, valued at $1,846,240.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Michael D. Dowling sold 4,500 shares of the company’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $36.38, for a total transaction of $163,710.00. Following the completion of the transaction, the chief financial officer now owns 39,614 shares in the company, valued at $1,441,157.32. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,927 shares of company stock worth $611,937. Corporate insiders own 14.50% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company grew its stake in shares of Southern First Bancshares by 18.1% in the second quarter. The Manufacturers Life Insurance Company now owns 468,270 shares of the bank’s stock valued at $17,349,000 after acquiring an additional 71,848 shares in the last quarter. State Street Corp grew its stake in shares of Southern First Bancshares by 14.6% in the second quarter. State Street Corp now owns 86,369 shares of the bank’s stock valued at $3,199,000 after acquiring an additional 11,008 shares in the last quarter. Castine Capital Management LLC grew its stake in shares of Southern First Bancshares by 7.8% in the second quarter. Castine Capital Management LLC now owns 168,952 shares of the bank’s stock valued at $6,259,000 after acquiring an additional 12,199 shares in the last quarter. OxFORD Asset Management LLP acquired a new position in shares of Southern First Bancshares in the second quarter valued at about $312,000. Finally, Banc Funds Co. LLC grew its stake in shares of Southern First Bancshares by 13.7% in the second quarter. Banc Funds Co. LLC now owns 622,521 shares of the bank’s stock valued at $23,064,000 after acquiring an additional 75,000 shares in the last quarter. Institutional investors and hedge funds own 70.24% of the company’s stock.

About Southern First Bancshares

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.

Earnings History and Estimates for Southern First Bancshares (NASDAQ:SFST)

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