In a recent transaction on May 15, Leighton M. Cubbage, a director at Southern First Bancshares Inc (NASDAQ:SFST), sold 1,771 shares of the company's common stock at an average price of $27.3395 per share, culminating in a total sale value of $48,418.
This sale represents a notable change in Cubbage's holdings in the company, leaving him with 62,664 shares of Southern First Bancshares Inc. following the transaction. The sale was executed at a single price point, indicating a straightforward transaction without a range of prices.
Investors often monitor insider sales as they can provide insights into how executives perceive the company's current valuation and future prospects. However, such transactions are not necessarily indicative of a strategic shift and can be motivated by a variety of personal financial considerations.
Southern First Bancshares Inc., based in Greenville, South Carolina, operates within the national commercial banks sector and is known to investors by its trading symbol SFST. The company has a history of providing banking services in the region, and its stock performance is watched closely by those invested in the financial sector.
The details of this transaction were made public through a Form 4 filing with the Securities and Exchange Commission, which is a requirement for insiders and provides transparency for investors regarding the trading activities of a company's directors and senior executives.
InvestingPro Insights
Following the recent insider sale by director Leighton M. Cubbage, a deeper look into Southern First Bancshares Inc. through InvestingPro reveals some key financial metrics and analyst insights that investors may find valuable. As of the last twelve months leading up to Q1 2024, Southern First Bancshares Inc. (NASDAQ:SFST) holds a market capitalization of $222.25 million and has demonstrated a Price/Earnings (P/E) ratio of 16.78, reflecting market sentiment towards its earnings potential.
Despite the insider sale, InvestingPro Tips indicate that analysts are optimistic about the company's profitability, predicting that SFST will be profitable this year. Additionally, the company has been profitable over the last twelve months. It's worth noting, however, that SFST does not pay a dividend, which could influence the investment strategy for income-focused shareholders. Moreover, the price of SFST has experienced a significant decline over the last three months, with a 3-month price total return of -18.27%. This could suggest a potential buying opportunity for investors, as the current price might represent a discount relative to the company's fair value, which InvestingPro estimates at $28.67.
For those seeking to delve further into the financial health and prospects of Southern First Bancshares Inc., InvestingPro offers additional insights and metrics. There are more InvestingPro Tips available that can help investors make an informed decision. Use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, and gain access to these valuable resources.
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