Comerica Bank Reduces Stake in Southern First Bancshares, Inc. (NASDAQ:SFST)

Comerica Bank decreased its stake in shares of Southern First Bancshares, Inc. (NASDAQ:SFST – Get Rating) by 1.5% during the third quarter, HoldingsChannel.com reports. The firm owned 28,685 shares of the bank’s stock after selling 447 shares during the period. Comerica Bank’s holdings in Southern First Bancshares were worth $1,198,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Amalgamated Bank purchased a new stake in shares of Southern First Bancshares in the 1st quarter valued at about $51,000. BNP Paribas Arbitrage SA raised its holdings in shares of Southern First Bancshares by 80.4% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 1,862 shares of the bank’s stock valued at $81,000 after acquiring an additional 830 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Southern First Bancshares in the 2nd quarter valued at about $132,000. MetLife Investment Management LLC raised its holdings in shares of Southern First Bancshares by 55.7% in the 1st quarter. MetLife Investment Management LLC now owns 3,316 shares of the bank’s stock valued at $169,000 after acquiring an additional 1,186 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in shares of Southern First Bancshares by 9.8% in the 1st quarter. First Trust Advisors LP now owns 4,032 shares of the bank’s stock valued at $205,000 after acquiring an additional 360 shares in the last quarter. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Southern First Bancshares Price Performance

Shares of Southern First Bancshares stock opened at $42.97 on Tuesday. The company has a current ratio of 1.06, a quick ratio of 1.05 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $343.63 million, a PE ratio of 9.74 and a beta of 0.86. The business’s 50-day moving average price is $46.02 and its 200-day moving average price is $44.73. Southern First Bancshares, Inc. has a 12 month low of $41.05 and a 12 month high of $61.84.

Southern First Bancshares (NASDAQ:SFST – Get Rating) last announced its quarterly earnings data on Tuesday, October 25th. The bank reported $1.04 EPS for the quarter, beating the consensus estimate of $1.03 by $0.01. Southern First Bancshares had a return on equity of 12.65% and a net margin of 30.20%. The firm had revenue of $28.13 million for the quarter, compared to analyst estimates of $29.14 million. Sell-side analysts forecast that Southern First Bancshares, Inc. will post 4 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. StockNews.com assumed coverage on Southern First Bancshares in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Piper Sandler initiated coverage on Southern First Bancshares in a research report on Monday, December 5th. They set a “neutral” rating and a $51.00 price objective on the stock.

Southern First Bancshares Company Profile

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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 operates through three segments: Commercial and Retail Banking, Mortgage Banking, and Corporate Operations.