In a recent transaction, Leighton M. Cubbage, a director at Southern First Bancshares Inc. (NASDAQ:SFST), sold a total of 2,500 shares of the company's common stock. The sales took place on September 17, 2024, and amounted to nearly $85,000 in total value.
The shares were sold at prices ranging from $33.753 to $34.25 per share. This transaction resulted in a notable change in Cubbage's holdings in the company, reducing the number of shares owned following the transaction to 51,803.
Investors closely monitor insider sales as they can provide insights into an insider's perspective on the company's current valuation. Southern First Bancshares Inc., headquartered in Greenville, South Carolina, is a financial institution that operates within the national commercial banks sector.
The sale by Cubbage was disclosed in compliance with regulatory requirements, and the details of the transaction have been made publicly available for investors' scrutiny. While the reasons behind the director's decision to sell the shares have not been disclosed, the transaction is part of the normal course of events where company insiders engage in buying and selling of their own company's stock.
Shareholders and potential investors in Southern First Bancshares Inc. can consider this recent insider transaction as they evaluate their investment positions and consider the company's future prospects.
InvestingPro Insights
As investors digest the news of Leighton M. Cubbage's recent sale of Southern First Bancshares Inc. (NASDAQ:SFST) shares, it's important to consider the company's recent financial performance and market position. According to InvestingPro data, Southern First Bancshares has a market capitalization of approximately $278.9 million, with a Price/Earnings (P/E) ratio of 20.12. This valuation metric is slightly higher when looking at the adjusted P/E ratio for the last twelve months as of Q2 2024, which stands at 20.23.
Despite a slight revenue decline of 3.24% over the last twelve months as of Q2 2024, the company has experienced a quarterly revenue growth of 9.2% in Q2 2024, suggesting a potential turnaround or seasonal fluctuation. The company's operating income margin is strong at 24.75%, indicating efficient management of its operations.
An InvestingPro Tip worth noting is that analysts predict Southern First Bancshares will be profitable this year, which aligns with the company's reported profitability over the last twelve months. Additionally, the company has seen a strong return over the last three months, with a price total return of 26.33%. This may provide some context to the recent insider sale, as directors might sell shares for various reasons, including taking profits after a period of strong performance.
For those interested in a deeper analysis, there are additional InvestingPro Tips available at InvestingPro, such as the company's weak gross profit margins and the fact that it does not pay a dividend to shareholders. These factors could have implications for investment strategies and the overall attractiveness of SFST stock.
Shareholders and potential investors looking to make informed decisions can find a wealth of information and further tips on Southern First Bancshares by visiting https://www.investing.com/pro/SFST.
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