In a recent transaction, Leighton M. Cubbage, a director at Southern First Bancshares Inc (NASDAQ:SFST), sold 1,290 shares of the company's common stock. The sale, dated September 9, 2024, was executed at an average price of $31.0175 per share, resulting in a total value of approximately $40,012.
This transaction has adjusted Cubbage's holdings in Southern First Bancshares, leaving him with a total of 60,562 shares following the sale. The shares were sold directly, as indicated in the regulatory filing that disclosed the transaction.
Southern First Bancshares Inc, based in Greenville, South Carolina, operates as a national commercial bank and is known for its involvement in the finance sector. The company, formerly known as Greenville First Bancshares Inc, has a history of serving its community with a variety of banking products and services.
Investors often monitor the buying and selling activities of company insiders like directors, as these transactions can provide insights into their perspective on the company's current valuation and future prospects. However, it is also common for insiders to sell shares for personal financial management reasons, unrelated to their outlook on the company's performance.
The disclosed sale provides current and potential investors with up-to-date information on insider transactions at Southern First Bancshares, which can be a valuable piece of data when assessing the stock's investment potential.
InvestingPro Insights
As investors assess the recent insider sale at Southern First Bancshares Inc (NASDAQ:SFST), it's important to consider various financial metrics and expert analyses that can provide a broader context. According to InvestingPro data, Southern First Bancshares has a market capitalization of approximately $255.25 million. The company's Price/Earnings (P/E) ratio stands at 18.32, reflecting investor sentiment about its earnings potential. Notably, the company's Price to Book (P/B) ratio for the last twelve months as of Q2 2024 is at a modest 0.8, which could suggest that the stock is potentially undervalued relative to its assets.
InvestingPro Tips highlight that the company has had a strong return over the last three months, with a 18.95% price total return, indicating a positive trend in investor confidence. Additionally, analysts predict that Southern First Bancshares will be profitable this year, which aligns with the fact that the company has been profitable over the last twelve months. It's worth noting that despite the company's weak gross profit margins, it has managed to maintain a robust operating income margin of 24.75%.
For investors looking for additional insights, there are more InvestingPro Tips available, providing a deeper dive into the company's financial health and future outlook. These tips are part of the comprehensive analysis provided by InvestingPro, which includes a fair value estimation of $30.18, slightly below the previous close price of $31.07. Understanding these metrics can be crucial for making informed investment decisions in the context of insider trading activity and the company's overall financial performance.
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