In a recent transaction, Leighton M. Cubbage, a director at Southern First Bancshares Inc. (NASDAQ:SFST), sold a significant number of shares in the company. The sales took place over two days, with the director disposing of shares at prices ranging from $27.5 to $27.7097.
The first sale occurred on May 9, 2024, with Cubbage selling 780 shares at a price of $27.5 each. Following this transaction, on May 10, the director continued to sell stock, offloading 812 shares at the same price of $27.5. Later that day, additional sales were made in two separate transactions: 11 shares at $27.67 and 894 shares at $27.7097.
In total, the sales amounted to $68,856, with the prices per share reflecting a narrow range, indicating a consistent market value for the Southern First Bancshares stock during the selling period. After these transactions, Cubbage's ownership in the company decreased, yet he still retains a substantial stake with 64,435 shares remaining.
Investors often monitor insider transactions like these to gain insights into the perspectives of high-ranking officials within the company regarding the stock's value and future prospects. However, it's important to consider that such sales could be motivated by various personal financial needs or portfolio strategies and not necessarily reflect a negative outlook on the company's performance.
Southern First Bancshares Inc., headquartered in Greenville, South Carolina, is known for its National Commercial Banks services under the industrial classification code 6021. The company continues to operate in the finance sector, with its shares traded publicly on the NASDAQ exchange.
InvestingPro Insights
As Southern First Bancshares Inc. (NASDAQ:SFST) navigates the financial landscape, certain metrics and expert analysis can offer investors a clearer picture of the company's current standing. An InvestingPro data snapshot reveals a market capitalization of $223.72M, with a Price to Earnings (P/E) ratio of 16.79, modestly adjusting to 16.89 when looking at the last twelve months as of Q1 2024. Despite a revenue decline of 9.94% during the same period, the company experienced a quarterly revenue growth of 4.07% in Q1 2024, indicating a potential rebound.
InvestingPro Tips highlight that Southern First Bancshares has been grappling with weak gross profit margins, which is a critical factor to consider when evaluating the company's financial health. Additionally, the company's share price has seen a notable drop over the past three months, decreasing by 16.29%. However, on a more positive note, analysts predict the company will be profitable this year, and it has indeed been profitable over the last twelve months.
For investors seeking a deeper dive into these metrics and additional insights, InvestingPro offers a comprehensive list of tips to guide investment decisions. Currently, there are 5 more InvestingPro Tips available for Southern First Bancshares, which can be accessed via the dedicated InvestingPro page for the company. To enhance the value you receive, use the coupon code PRONEWS24 to get an extra 10% off a yearly or biyearly Pro and Pro+ subscription.
Understanding insider transactions like those of Director Leighton M. Cubbage can be enriched by considering these financial metrics and expert analyses. While insider sales can be influenced by various factors, the broader financial data and predictions provide a context within which to assess the company's outlook and potential investment opportunities.
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