Rating Action: What To Expect After Southern First Bancshares (NASDAQ:SFST)’s Downgrade Rating From Keefe Bruyette & Woods?

November 29, 2016 - By Ellis Scott

Rating Action: What To Expect After Southern First Bancshares (NASDAQ:SFST)'s Downgrade Rating From Keefe Bruyette & Woods?

Southern First Bancshares (NASDAQ:SFST) Downgrade

Southern First Bancshares (NASDAQ:SFST)‘s rating was decreased by equity research analysts at Keefe Bruyette & Woods from a “Outperform” rating to a “Market Perform” rating in analysts note issued to investors and clients on Tuesday morning.

Southern First Bancshares, Inc. (NASDAQ:SFST) Ratings Coverage

Out of 2 analysts covering Southern First Bancshares (NASDAQ:SFST), 2 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $24 is the highest target while $24 is the lowest. The $24 average target is -24.17% below today’s ($31.65) stock price. Southern First Bancshares has been the topic of 2 analyst reports since August 20, 2015 according to StockzIntelligence Inc. The stock of Southern First Bancshares, Inc. (NASDAQ:SFST) has “Outperform” rating given on Thursday, August 20 by Wood.

About 7,590 shares traded hands. Southern First Bancshares, Inc. (NASDAQ:SFST) has risen 28.77% since April 26, 2016 and is uptrending. It has outperformed by 23.51% the S&P500.

Insitutional Activity: The institutional sentiment decreased to 1.21 in Q2 2016. Its down 1.87, from 3.08 in 2016Q1. The ratio dropped, as 6 funds sold all Southern First Bancshares, Inc. shares owned while 6 reduced positions. 23 funds bought stakes while 14 increased positions. They now own 8.01 million shares or 117.79% more from 3.68 million shares in 2016Q1.

Moreover, Stieven Capital Advsr Lp has 0.84% invested in Southern First Bancshares, Inc. (NASDAQ:SFST) for 124,940 shares. Blackrock reported 257 shares or 0% of all its holdings. Brown Brothers Harriman Communication reported 2,074 shares or 0% of all its holdings. Mendon Cap Advsr owns 291,722 shares or 0.73% of their US portfolio. Bessemer Grp last reported 0% of its portfolio in the stock. Livingston Asset Mgmt Company (Operating As Southport Capital Management) accumulated 0.09% or 6,587 shares. Carroll Financial Assoc Inc holds 73 shares or 0% of its portfolio. Royal National Bank Of Canada holds 8,660 shares or 0% of its portfolio. The Texas-based Bridgeway Capital Mgmt has invested 0.02% in Southern First Bancshares, Inc. (NASDAQ:SFST). The Ohio-based Strs Ohio has invested 0% in Southern First Bancshares, Inc. (NASDAQ:SFST). Morgan Stanley has 5,042 shares for 0% of their US portfolio. Basswood Cap Management Ltd Liability Company accumulated 82,514 shares or 0.12% of the stock. Citigroup last reported 570 shares in the company. Tfs Lc holds 12,462 shares or 0.06% of its portfolio. Ejf Capital Ltd Limited Liability Company has 533,274 shares for 1.21% of their US portfolio.

Insider Transactions: Since August 5, 2016, the stock had 0 buys, and 6 insider sales for $958,462 net activity. Another trade for 500 shares valued at $13,424 was made by Dowling Michael D on Friday, August 12. 2,000 shares were sold by GILMER FRED JR, worth $54,500. Another trade for 24,773 shares valued at $759,025 was made by Strickland F Justin on Tuesday, November 15.

Southern First Bancshares, Inc. is a bank holding firm that owns the capital stock of Southern First Bank , a South Carolina state bank, and all of the stock of Greenville First Statutory Trust I and II (the Trusts). The company has a market cap of $201.38 million. The Bank is a commercial bank with approximately nine retail offices located in Greenville, Columbia and Charleston, South Carolina. It has a 16.79 P/E ratio. The Bank is primarily engaged in the business of accepting demand deposits and savings deposits insured by the Federal Deposit Insurance Corporation (the FDIC) and providing commercial, consumer and mortgage loans to the public.

According to Zacks Investment Research, “Greenville First Bancshares, Inc. is the holding company for Greenville First Bank, N.A., a national banking association chartered under the laws of the United States.”

SFST Company Profile

Southern First Bancshares, Inc., incorporated on March 29, 1999, is a bank holding firm 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. The Bank is primarily engaged in the business of accepting demand deposits and savings deposits insured by the Federal Deposit Insurance Corporation (the FDIC) and providing commercial, consumer and mortgage loans to the public. In addition to deposit and loan services, the Company offers other bank services, such as Internet banking, cash management services, safe deposit boxes, direct deposit and automatic drafts for various accounts.

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