Castine Capital Management LLC Has $6.42 Million Stake in Southern First Bancshares, Inc. (NASDAQ:SFST)

Castine Capital Management LLC grew its position in Southern First Bancshares, Inc. (NASDAQ:SFST) by 1.7% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 189,682 shares of the bank’s stock after purchasing an additional 3,209 shares during the period. Southern First Bancshares accounts for 2.0% of Castine Capital Management LLC’s holdings, making the stock its 24th largest position. Castine Capital Management LLC’s holdings in Southern First Bancshares were worth $6,424,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. Banc Funds Co. LLC increased its holdings in shares of Southern First Bancshares by 24.8% in the 1st quarter. Banc Funds Co. LLC now owns 562,754 shares of the bank’s stock worth $19,060,000 after acquiring an additional 111,710 shares during the period. Northern Trust Corp grew its stake in shares of Southern First Bancshares by 3.2% in the first quarter. Northern Trust Corp now owns 81,877 shares of the bank’s stock worth $2,773,000 after acquiring an additional 2,571 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Southern First Bancshares by 8.5% in the first quarter. Dimensional Fund Advisors LP now owns 281,374 shares of the bank’s stock worth $9,530,000 after acquiring an additional 22,034 shares during the last quarter. Globeflex Capital L P grew its stake in shares of Southern First Bancshares by 18.0% in the first quarter. Globeflex Capital L P now owns 11,565 shares of the bank’s stock worth $392,000 after acquiring an additional 1,765 shares during the last quarter. Finally, BlackRock Inc. grew its stake in shares of Southern First Bancshares by 4.1% in the first quarter. BlackRock Inc. now owns 379,571 shares of the bank’s stock worth $12,857,000 after acquiring an additional 14,806 shares during the last quarter. 71.24% of the stock is owned by institutional investors and hedge funds.

In other Southern First Bancshares news, CEO R Arthur Seaver, Jr. sold 5,911 shares of Southern First Bancshares stock in a transaction on Monday, March 18th. The shares were sold at an average price of $36.03, for a total transaction of $212,973.33. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Leighton M. Cubbage sold 1,320 shares of Southern First Bancshares stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $34.53, for a total transaction of $45,579.60. Following the sale, the director now owns 84,562 shares in the company, valued at approximately $2,919,925.86. The disclosure for this sale can be found here. Company insiders own 10.51% of the company’s stock.

Shares of Southern First Bancshares stock traded up $0.34 during midday trading on Friday, hitting $36.68. The company had a trading volume of 34,598 shares, compared to its average volume of 14,139. The company has a market cap of $275.31 million, a price-to-earnings ratio of 12.27 and a beta of 0.90. The company has a current ratio of 1.05, a quick ratio of 1.04 and a debt-to-equity ratio of 0.21. Southern First Bancshares, Inc. has a 1-year low of $27.33 and a 1-year high of $47.30.

Southern First Bancshares (NASDAQ:SFST) last announced its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.06. The business had revenue of $18.81 million for the quarter, compared to the consensus estimate of $18.40 million. Southern First Bancshares had a net margin of 25.13% and a return on equity of 13.52%. As a group, research analysts forecast that Southern First Bancshares, Inc. will post 3.1 earnings per share for the current fiscal year.

Several brokerages have recently issued reports on SFST. BidaskClub downgraded shares of Southern First Bancshares from a “buy” rating to a “hold” rating in a research note on Friday. Zacks Investment Research upgraded shares of Southern First Bancshares from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a research note on Tuesday, May 21st. Finally, FIG Partners restated an “outperform” rating on shares of Southern First Bancshares in a research note on Thursday, May 16th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. Southern First Bancshares presently has an average rating of “Hold” and an average price target of $40.00.

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

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