Brokerages Anticipate Southern First Bancshares, Inc. (NASDAQ:SFST) Will Post Earnings of $0.56 Per Share

Wall Street brokerages expect that Southern First Bancshares, Inc. (NASDAQ:SFST) will announce earnings per share of $0.56 for the current quarter, Zacks reports. Two analysts have issued estimates for Southern First Bancshares’ earnings, with the highest EPS estimate coming in at $0.64 and the lowest estimate coming in at $0.43. Southern First Bancshares posted earnings per share of $0.95 during the same quarter last year, which indicates a negative year-over-year growth rate of 41.1%. The company is expected to announce its next quarterly earnings report on Friday, November 6th.

According to Zacks, analysts expect that Southern First Bancshares will report full-year earnings of $2.04 per share for the current year, with EPS estimates ranging from $1.87 to $2.20. For the next fiscal year, analysts anticipate that the company will post earnings of $2.85 per share, with EPS estimates ranging from $2.65 to $3.10. Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that that provide coverage for Southern First Bancshares.

Southern First Bancshares (NASDAQ:SFST) last issued its earnings results on Monday, August 3rd. The bank reported $0.60 EPS for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.22. The firm had revenue of $28.98 million for the quarter, compared to analyst estimates of $22.44 million. Southern First Bancshares had a return on equity of 10.65% and a net margin of 18.93%.

A number of brokerages have recently issued reports on SFST. Zacks Investment Research upgraded Southern First Bancshares from a “hold” rating to a “buy” rating and set a $29.00 target price on the stock in a research report on Tuesday, August 25th. Piper Sandler assumed coverage on Southern First Bancshares in a research note on Monday, August 3rd. They issued an “overweight” rating and a $30.00 price objective for the company. Finally, ValuEngine downgraded Southern First Bancshares from a “hold” rating to a “sell” rating in a research note on Monday, August 3rd. Two investment analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. Southern First Bancshares has an average rating of “Hold” and an average price target of $30.00.

Southern First Bancshares stock traded up $0.13 during mid-day trading on Friday, hitting $23.43. The company had a trading volume of 16,774 shares, compared to its average volume of 27,175. The company has a current ratio of 1.05, a quick ratio of 1.03 and a debt-to-equity ratio of 0.17. Southern First Bancshares has a 12-month low of $20.89 and a 12-month high of $44.43. The company’s fifty day moving average is $25.88 and its 200-day moving average is $26.66. The company has a market capitalization of $181.23 million, a price-to-earnings ratio of 8.28 and a beta of 1.02.

In other news, Director Leighton M. Cubbage sold 2,300 shares of the stock in a transaction on Monday, September 21st. The stock was sold at an average price of $25.10, for a total transaction of $57,730.00. Following the completion of the transaction, the director now directly owns 71,201 shares in the company, valued at approximately $1,787,145.10. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 8.48% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SFST. BlackRock Inc. boosted its holdings in Southern First Bancshares by 0.8% during the 1st quarter. BlackRock Inc. now owns 411,172 shares of the bank’s stock valued at $11,666,000 after acquiring an additional 3,326 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in Southern First Bancshares by 9,250.9% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 52,926 shares of the bank’s stock valued at $1,502,000 after acquiring an additional 52,360 shares during the period. Cornercap Investment Counsel Inc. purchased a new position in Southern First Bancshares during the 1st quarter valued at about $737,000. Acadian Asset Management LLC boosted its holdings in Southern First Bancshares by 3.3% during the 1st quarter. Acadian Asset Management LLC now owns 50,091 shares of the bank’s stock valued at $1,422,000 after acquiring an additional 1,610 shares during the period. Finally, Greenwood Capital Associates LLC boosted its stake in shares of Southern First Bancshares by 21.1% in the 1st quarter. Greenwood Capital Associates LLC now owns 9,045 shares of the bank’s stock valued at $257,000 after buying an additional 1,578 shares during the period. Institutional investors and hedge funds own 74.78% of the company’s stock.

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

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