Southern First Bancshares Inc Stock Research

Market Summary

USD32.10+0.10

Delayed

0.31%

SFST Alerts

4 major insider buys recently.

SFST Stock Price

SFST RSI Chart

SFST Valuation

Market Cap

257.2M

Price/Earnings (Trailing)

8.83

Price/Sales (Trailing)

3.52

EV/EBITDA

0.62

Price/Free Cashflow

7.07

SFST Price/Sales (Trailing)

SFST Profitability

EBT Margin

54.29%

Return on Equity

9.89%

Return on Assets

0.79%

Free Cashflow Yield

14.14%

SFST Fundamentals

SFST Revenue

SFST Earnings

Earnings (TTM)

29.1M

Earnings Y/Y

-54.25%

Earnings Q/Q

-34.72%

Price Action

52 Week Range

31.3053.58

(Low)(High)

Last 7 days

-6.2%

Last 30 days

-20.0%

Last 90 days

-30.0%

Trailing 12 Months

-37.8%

SFST Financial Health

SFST Investor Care

Shares Dilution (1Y)

1.08%

Diluted EPS (TTM)

3.61

Peers (Alternatives to Southern First Bancshares)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
JPM	369.9B	128.7B	-9.85%	-8.96%	9.82	2.87	5.79%	-22.05%
BAC	217.0B	95.0B	-20.85%	-35.83%	7.88	2.29	6.55%	-13.92%
WFC	137.5B	54.0B	-21.26%	-28.08%	10.43	2.55	36.10%	-38.82%
USB	52.4B	17.9B	-26.59%	-35.86%	8.99	2.92	33.05%	-26.85%
PNC	50.9B	21.1B	-20.57%	-33.97%	8.33	2.41	9.94%	6.78%
FHN	9.0B	2.7B	-32.58%	-27.06%	9.98	3.35	24.33%	-9.91%
MID-CAP
BOKF	6.5B	1.4B	-17.57%	-11.29%	12.44	4.65	17.98%	-15.83%
CFR	6.4B	1.5B	-21.33%	-29.27%	11.11	4.36	46.29%	30.71%
ZION	4.2B	2.7B	-42.72%	-57.89%	4.63	1.55	19.32%	-19.66%
PNFP	4.1B	1.4B	-26.94%	-42.41%	7.4	3.02	33.23%	6.34%
SMALL-CAP
PRK	2.0B	378.2M	-3.47%	-4.03%	13.45	5.28	19.24%	-3.63%
TRMK	1.5B	541.8M	-14.93%	-16.80%	21.46	2.85	22.45%	-51.22%
WABC	1.2B	221.8M	-17.39%	-21.75%	10.21	5.62	27.86%	41.07%
HOPE	1.2B	716.1M	-20.51%	-35.13%	5.6	1.71	26.40%	6.70%

Financials for Southern First Bancshares

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q1	2021Q4	2021Q3	2021Q2
Revenue	NaN%
EBITDA	-6.9%	139	150	-	-	-
EBITDA Margin	-2.5%	1.58*	1.62*	-	-	-
Earnings Before Taxes	-34.0%	38.00	58.00	61.00	-	-
EBT Margin	-6.6%	0.61*	0.65*	-	-	-
Interest Expenses	8.9%	98.00	90.00	88.00	-	-
Net Income	-34.3%	29.00	44.00	47.00	-	-
Net Income Margin	-6.8%	0.47*	0.50*	-	-	-
Free Cahsflow	-20.3%	36.00	46.00	-	-	-

Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Assets	7.3%	3,692	3,440	3,288	3,073	2,926
Cash Equivalents	6.4%	171	161	182	149	167
Net PPE	-0.3%	99.00	100	97.00	95.00	92.00
Liabilities	7.8%	3,397	3,152	3,005	2,794	2,648
Shareholder's Equity	2.3%	295	288	283	279	278
Retained Earnings	2.9%	192	187	178	171	166
Additional Paid-In Capital	0.5%	119	118	118	117	114
Shares Outstanding	0.2%	8.00	8.00	8.00	8.00	8.00

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Cashflow From Operations	-22.7%	50.00	65.00	59.00	75.00	78.00
Share Based Compensation	4.2%	2.00	2.00	2.00	2.00	2.00
Cashflow From Investing	-19.6%	-792	-662	-640	-532	-410
Cashflow From Financing	18.5%	746	630	610	451	399

Risks for SFST

What is the probability of a big loss on SFST?

61.9%

Probability that Southern First Bancshares stock will be more than 20% underwater in next one year

47.7%

Probability that Southern First Bancshares stock will be more than 30% underwater in next one year.

18.5%

Probability that Southern First Bancshares stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does SFST drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Southern First Bancshares was unfortunately bought at previous high price.

Drawdowns

Returns for SFST

Cumulative Returns on SFST

11.7%

10-Year Cumulative Returns

3.2%

7-Year Cumulative Returns

-6.0%

5-Year Cumulative Returns

7.5%

3-Year Cumulative Returns

What are the long-term rolling returns for SFST?

FIve years rolling returns for Southern First Bancshares.

Annualized Returns

Which funds bought or sold SFST recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-03-08	SHEETS SMITH WEALTH MANAGEMENT	unchanged	-	62,119	694,119	0.11%
2023-02-21	NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO	added	1.17	26,900	272,900	-%
2023-02-15	MetLife Investment Management, LLC	added	16.73	38,020	172,020	-%
2023-02-15	PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO	reduced	-18.47	-4,000	34,000	-%
2023-02-15	ALLIANCEBERNSTEIN L.P.	reduced	-17.03	-640,895	6,576,100	-%
2023-02-15	Metropolitan Life Insurance Co/NY	unchanged	-	1,777	21,777	-%
2023-02-15	CAPTRUST FINANCIAL ADVISORS	added	0.3	314,652	3,415,650	0.02%
2023-02-15	GAMCO INVESTORS, INC. ET AL	unchanged	-	117,254	1,313,250	0.01%
2023-02-14	RHUMBLINE ADVISERS	added	40.09	259,000	740,000	-%
2023-02-14	MALTESE CAPITAL MANAGEMENT LLC	sold off	-100	-208,000	-	-%

Latest Funds Activity

Are funds buying SFST calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own SFST

No. of Funds

SFST Alerts

4 major insider buys recently.

Southern First Bancshares News

Schedule 13G FIlings of Southern First Bancshares

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 14, 2023	t. rowe price investment management, inc.	10.0%	799,080	SC 13G
Feb 14, 2023	price t rowe associates inc /md/	0.0%	1,242	SC 13G/A
Feb 08, 2023	fj capital management llc	3.60%	287,539	SC 13G/A
Feb 07, 2023	banc funds co llc	2.3%	186,493	SC 13G/A
Jan 25, 2023	blackrock inc.	8.7%	699,622	SC 13G
Feb 16, 2022	manulife financial corp	5.06%	-	SC 13G/A
Feb 14, 2022	price t rowe associates inc /md/	8.2%	653,401	SC 13G/A
Feb 11, 2022	fj capital management llc	7.59%	600,284	SC 13G/A
Feb 03, 2022	blackrock inc.	6.5%	516,946	SC 13G/A
Jun 08, 2021	fj capital management llc	5.20%	408,105	SC 13G

SFST Fair Value

Recent SEC filings of Southern First Bancshares

View All Filings

Date Filed	Form Type	Document
Mar 24, 2023	SC 13G	Major Ownership Report
Mar 23, 2023	PRE 14A	PRE 14A
Mar 14, 2023	4	Insider Trading
Mar 14, 2023	4	Insider Trading
Mar 14, 2023	4	Insider Trading
Mar 10, 2023	4	Insider Trading
Feb 23, 2023	4	Insider Trading
Feb 14, 2023	SC 13G	Major Ownership Report
Feb 14, 2023	SC 13G/A	Major Ownership Report
Feb 13, 2023	10-K	Annual Report

Latest Insider Trading transactions for SFST

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-03-14	ELLEFSON ANNE S	bought	16,375	32.75	500	-
2023-03-13	ELLISON DAVID G	bought	16,845	33.69	500	-
2023-03-10	ELLEFSON ANNE S	bought	9,125	36.5	250	-
2023-03-10	Aiken William M. III	bought	38,210	38.21	1,000	chief risk officer
2023-02-22	Locke Anna T	bought	27,472	40.7	675	-
2023-02-06	Lattimore Ray	bought	5,370	41.96	128	-
2023-02-02	Lattimore Ray	bought	88,913	41.96	2,119	-
2023-01-30	ELLISON DAVID G	bought	183,930	40.8732	4,500	-
2023-01-17	Dowling Michael D	acquired	-	-	2,000	cfo/coo
2023-01-17	King Silvia T	acquired	-	-	600	chief human resources officer

About Southern First Bancshares

R. Arthur Seaver

www.southernfirst.com

280

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. The company accepts various deposit products that include checking accounts, commercial checking accounts, and savings accounts, as well as other time deposits, including daily money market accounts and long-term certificates of deposit. Its loan portfolio comprises commercial real estate loans; construction real estate loans; commercial business loans for various lines of businesses, such as the manufacturing, service industry, and professional service areas; consumer real estate and home equity loans; and other consumer loans, including secured and unsecured installment loans and revolving lines of credit. In addition, the company provides other bank services, such as internet banking, cash management, safe deposit boxes, direct deposit, automatic drafts, bill payment, and mobile banking services. It operates through eight retail offices located in Greenville, Charleston, and Columbia; three retail offices located in Raleigh, Greensboro, and Charlotte markets; and one retail office located in Atlanta. The company was incorporated in 1999 and is headquartered in Greenville, South Carolina.

SFST Income Statement

2022-09-30

CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Interest income
Loans	$ 29,752	$ 23,063	$ 80,294	$ 67,938
Investment securities	506	355	1,428	926
Federal funds sold and interest-bearing deposits with banks	676	68	915	167
Total interest income	30,934	23,486	82,637	69,031
Interest expense
Deposits	5,021	934	7,773	3,009
Borrowings	459	380	1,362	1,147
Total interest expense	5,480	1,314	9,135	4,156
Net interest income	25,454	22,172	73,502	64,875
Provision for (reversal of) credit losses	950	(6,000)	3,830	(8,200)
Net interest income after provision for credit losses	24,504	28,172	69,672	73,075
Noninterest income
Mortgage banking income	1,230	2,829	3,907	9,445
Service fees on deposit accounts	194	199	594	557
ATM and debit card income	559	542	1,651	1,532
Income from bank owned life insurance	315	321	945	919
Net lender and referral fees on PPP loans				268
Loss on disposal of fixed assets			(394)
Other income	382	348	1,170	1,043
Total noninterest income	2,680	4,239	7,873	13,764
Noninterest expenses
Compensation and benefits	9,843	9,064	29,214	26,897
Occupancy	2,442	1,685	6,439	4,875
Other real estate owned (income) expenses		(3)		385
Outside service and data processing costs	1,529	1,368	4,591	4,072
Insurance	507	244	1,134	807
Professional fees	555	694	1,848	1,905
Marketing	338	247	934	645
Other	832	740	2,360	2,109
Total noninterest expenses	16,046	14,039	46,520	41,695
Income before income tax expense	11,138	18,372	31,025	45,144
Income tax expense	2,725	4,355	7,402	10,438
Net income	$ 8,413	$ 14,017	$ 23,623	$ 34,706
Earnings per common share
Basic (in Dollars per share)	$ 1.06	$ 1.78	$ 2.97	$ 4.43
Diluted (in Dollars per share)	$ 1.04	$ 1.75	$ 2.93	$ 4.36
Weighted average common shares outstanding
Basic (in Shares)	7,972,146	7,873,868	7,954,025	7,832,330
Diluted (in Shares)	8,065,087	8,001,028	8,071,988	7,966,065

SFST Balance Sheet

2022-09-30

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Cash and cash equivalents:
Cash and due from banks	$ 16,530	$ 21,770
Federal funds sold	139,544	86,882
Interest-bearing deposits with banks	4,532	58,557
Total cash and cash equivalents	160,606	167,209
Investment securities:
Investment securities available for sale	91,521	120,281
Other investments	5,449	4,021
Total investment securities	96,970	124,302
Mortgage loans held for sale	9,243	13,556
Loans	3,030,027	2,489,877
Less allowance for credit losses	(36,317)	(30,408)
Loans, net	2,993,710	2,459,469
Bank owned life insurance	50,778	49,833
Property and equipment, net	99,530	92,370
Deferred income taxes, net	18,425	8,397
Accrued interest receivable	7,949	7,624
Other assets	2,458	2,788
Total assets	3,439,669	2,925,548
LIABILITIES
Deposits	3,001,452	2,563,826
FHLB advances and related debt	60,000
Subordinated debentures	36,187	36,106
Other liabilities	54,245	47,715
Total liabilities	3,151,884	2,647,647
SHAREHOLDERS’ EQUITY
Preferred stock, par value $.01 per share, 10,000,000 shares authorized
Common stock, par value $.01 per share, 10,000,000 shares authorized, 7,997,344 and 7,925,819 shares issued and outstanding at September 30, 2022 and December 31, 2021, respectively	80	79
Nonvested restricted stock	(3,348)	(1,435)
Additional paid-in capital	118,433	114,226
Accumulated other comprehensive loss	(14,009)	(740)
Retained earnings	186,629	165,771
Total shareholders’ equity	287,785	277,901
Total liabilities and shareholders’ equity	$ 3,439,669	$ 2,925,548