Southern First Bancshares (NASDAQ:SFST) Shares Break Below 200-Day Moving Average – Should You Sell?

Southern First Bancshares, Inc. (NASDAQ:SFST) passed below its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $59.77 and traded as low as $59.70. Southern First Bancshares shares last traded at $60.09, with a volume of 53,743 shares.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SFST. Zacks Research cut Southern First Bancshares from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of Southern First Bancshares in a research note on Friday, July 31st. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Southern First Bancshares presently has a consensus rating of “Moderate Buy” and a consensus price target of $64.00.

Southern First Bancshares Stock Performance

The company has a market capitalization of $565.61 million, a PE ratio of 12.68 and a beta of 0.71. The company has a current ratio of 1.11, a quick ratio of 1.10 and a debt-to-equity ratio of 0.56. The firm’s 50-day simple moving average is $61.82 and its 200-day simple moving average is $59.86.

Southern First Bancshares (NASDAQ:SFST) last posted its quarterly earnings results on Tuesday, July 21st. The bank reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.01. Southern First Bancshares had a return on equity of 10.18% and a net margin of 16.78%. The business had revenue of $20.40 million for the quarter, compared to the consensus estimate of $36.30 million. On average, research analysts predict that Southern First Bancshares, Inc. will post 5.40 earnings per share for the current year.

Insider Buying and Selling

In other Southern First Bancshares news, CAO Julie Fairchild sold 1,500 shares of the company’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $63.00, for a total transaction of $94,500.00. Following the completion of the sale, the chief accounting officer owned 5,200 shares in the company, valued at $327,600. This represents a 22.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Leighton Cubbage sold 1,200 shares of the stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $62.26, for a total value of $74,712.00. Following the sale, the director directly owned 47,100 shares in the company, valued at $2,932,446. This trade represents a 2.48% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 5,615 shares of company stock valued at $351,739 in the last three months. 6.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Southern First Bancshares

Institutional investors have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue lifted its holdings in shares of Southern First Bancshares by 110.1% during the 3rd quarter. State of Alaska Department of Revenue now owns 708 shares of the bank’s stock valued at $40,000 after purchasing an additional 371 shares during the last quarter. NewEdge Advisors LLC grew its stake in Southern First Bancshares by 37.6% during the 2nd quarter. NewEdge Advisors LLC now owns 16,707 shares of the bank’s stock worth $1,021,000 after buying an additional 4,564 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in Southern First Bancshares during the 2nd quarter worth $557,000. Sheets Smith Wealth Management grew its stake in Southern First Bancshares by 2.3% during the 2nd quarter. Sheets Smith Wealth Management now owns 19,639 shares of the bank’s stock worth $1,200,000 after buying an additional 435 shares during the last quarter. Finally, Penn Capital Management Company LLC acquired a new position in Southern First Bancshares during the 2nd quarter valued at about $677,000. Institutional investors own 75.00% of the company’s stock.

Southern First Bancshares Company Profile

Southern First Bancshares, Inc is a bank holding company headquartered in Greenville, South Carolina. Through its subsidiary, Southern First Bank, the company provides banking and financial services to businesses, professionals and individuals.

Southern First Bank offers commercial and consumer deposit accounts, residential and commercial real estate loans, business loans, construction and development financing, and other credit products. Its services also include treasury and cash-management solutions, online and mobile banking, and related personal and business banking services.

Founded in 1999, Southern First serves customers through banking offices in South Carolina and North Carolina, including markets such as Greenville, Columbia and Charleston, South Carolina, and the Charlotte, North Carolina, area.