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Southern First Bancshares (SFST)

Market Price (6/27/2026): $61.31 | Market Cap: $500.5 MilSector: Financials | Industry: Regional Banks

Southern First Bancshares (SFST)

Market Price (6/27/2026): $61.31
Market Cap: $500.5 Mil
Sector: Financials
Industry: Regional Banks

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 7.0%, FCF Yield is 6.6%

Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 27%

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 27%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 26%

Low stock price volatility
Vol 12M is 31%

Megatrend and thematic drivers
Megatrends include Fintech & Digital Payments. Themes include Online Banking & Lending, Digital Payments, and Wealth Management Technology.

Trading close to highs
Dist 52W High is -0.5%, Dist 3Y High is -0.5%

Key risks
SFST key risks include [1] its high real estate exposure, Show more.

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 7.0%, FCF Yield is 6.6%
1 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 27%
2 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 27%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 26%
3 Low stock price volatility
Vol 12M is 31%
4 Megatrend and thematic drivers
Megatrends include Fintech & Digital Payments. Themes include Online Banking & Lending, Digital Payments, and Wealth Management Technology.
5 Trading close to highs
Dist 52W High is -0.5%, Dist 3Y High is -0.5%
6 Key risks
SFST key risks include [1] its high real estate exposure, Show more.

SFST in ETFs

Weight = SFST's share of each fund

VTI0.00%
IWM0.01%
AVUV0.03%
IWN0.03%
VTWO0.01%
DFAS0.01%
DFAC0.00%
IWV0.00%

Valuation & Metrics

FYE: 12/31SFST [1]S&P 500 [2]
REVENUE GROWTH
LTM Revenue [3]$125.4 Mil—
FY 2026 Sales$148.7 Mil—
FY 2027 Sales$176.2 Mil—
FY 2026 Sales Growth18.6%—
FY 2027 Sales Growth18.5%8.3%
EARNINGS
LTM Net Income (GAAP) [3]$35.0 Mil—
FY 2026 Net Income (Non-GAAP)$40.8 Mil—
FY 2027 Net Income (Non-GAAP)$49.8 Mil—
FY 2027 Net Income Growth22.2%15.9%
FY 2026 EPS (Non-GAAP)$5.04—
FY 2027 EPS (Non-GAAP)$6.17—
FY 2027 EPS Growth22.2%—
VALUATION
FY 2026 P/S3.43.3
FY 2027 P/S2.8—
FY 2026 P/E12.320.3
FY 2027 P/E10.0—

[1] SFST forward figures are analyst consensus for the next two fiscal years (fiscal year end 12/31). Net Income and EPS are non-GAAP (adjusted) consensus. P/S and P/E divide the current market cap by the consensus figure.
[2] S&P 500 figures are the SPY ETF's holdings-weighted forward aggregate. P/S and P/E reflect FY1/FY2 consensus blended to the 12-month window ending 6/30/27 (~one year forward), shown when ≥90% of index weight has estimates. Growth is the aggregate next-fiscal-year vs current-fiscal-year (FY1→FY2) change. Index-level dollar Sales, Net Income and EPS are not applicable.
[3] LTM = reported trailing-twelve-month actuals (GAAP).
SFSTS&P 500
REVENUE GROWTHVERY GOOD
Rev LTM ($ Bil)0.1
Rev Chg Q27.6%8.8%
Rev Chg LTM27.2%7.5%
Rev Chg 3Y Avg8.1%5.9%
PROFITABILITYGOOD
Op Inc LTM ($ Bil)�
CFO LTM ($ Bil)0.0
Net Inc LTM ($ Bil)0.0
CFO/Rev LTM26.8%21.4%
Net Inc Mgn27.9%13.0%
VALUATIONLOW
P/S4.03.3
P/CFO14.915.3
P/FCF15.219.8
P/E14.324.6

AI Analysis | Feedback

MetricValueDateSource
Net Interest Margin2.62%9302025Link
Efficiency Ratio60.86%9302025Link
Nonperforming Assets to Total Assets0.27%9302025Link
Past Due Loans to Total Loans0.18%9302025Link
Book Value Per Common Share43.519302025Link
Tangible Common Equity (TCE) Ratio8.18%9302025Link
Total Loans3.8 billion9302025Link
Core Deposits2.9 billion9302025Link
Allowance for Credit Losses to Total Loans1.10%6302025Link
Number of Employees2979302025Link
Number of Locations1311082025Link

Price Chart

No Events

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 6/10/2026

Southern First Bancshares (SFST) stock has gained about 10% since 2/28/2026 because of the following key factors:

1. Robust Financial Performance in fiscal Q1 2026. Southern First Bancshares reported significant year-over-year growth in fiscal Q1 2026 (ended March 31, 2026), with net income increasing 88% to $9.9 million and diluted earnings per share rising 83% to $1.19 compared to fiscal Q1 2025. This strong performance was further driven by a 29% year-over-year increase in net interest income, primarily from new loan volume, and a substantial 27% annualized growth in retail deposits, adding nearly $210 million. The company's net interest margin also improved to 2.88% from 2.57% for full-year 2025.

2. Successful Capital Raise to Fuel Growth. In April 2026, Southern First Bancshares successfully completed a public offering of 1,207,500 shares of common stock at $54.00 per share, generating approximately $65.2 million in gross proceeds. The company plans to use these net proceeds for general corporate purposes, including supporting organic growth initiatives and providing capital to its bank subsidiary, which signals strong expectations for future expansion.

Show more
Updated on 6/10/2026

Southern First Bancshares (SFST) stock has gained about 10% since 2/28/2026 because of the following key factors:

1. Robust Financial Performance in fiscal Q1 2026. Southern First Bancshares reported significant year-over-year growth in fiscal Q1 2026 (ended March 31, 2026), with net income increasing 88% to $9.9 million and diluted earnings per share rising 83% to $1.19 compared to fiscal Q1 2025. This strong performance was further driven by a 29% year-over-year increase in net interest income, primarily from new loan volume, and a substantial 27% annualized growth in retail deposits, adding nearly $210 million. The company's net interest margin also improved to 2.88% from 2.57% for full-year 2025.

2. Successful Capital Raise to Fuel Growth. In April 2026, Southern First Bancshares successfully completed a public offering of 1,207,500 shares of common stock at $54.00 per share, generating approximately $65.2 million in gross proceeds. The company plans to use these net proceeds for general corporate purposes, including supporting organic growth initiatives and providing capital to its bank subsidiary, which signals strong expectations for future expansion.

3. Positive Analyst Outlook and Improved Asset Quality. Wall Street analysts maintain a "Moderate Buy" consensus rating for SFST, with an average price target of $64.00, indicating a potential upside of 8.53% from its price on June 5, 2026. This positive sentiment is reinforced by the company's strengthening balance sheet, as evidenced by a 39-basis point increase in return on average assets to 0.91% and a 41-basis point increase in tangible common equity to assets, reaching 8.29% compared to fiscal Q1 2025. Furthermore, asset quality improved with nonperforming assets decreasing to 0.26% of total assets from 0.32% in fiscal Q4 2025.

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Stock Movement Drivers

Fundamental Drivers

The 9.7% change in SFST stock from 2/28/2026 to 6/26/2026 was primarily driven by a 8.5% change in the company's Net Income Margin (%).
(LTM values as of)22820266262026Change
Stock Price ($)55.8461.239.7%
Change Contribution By: 
Total Revenues ($ Mil)1181256.2%
Net Income Margin (%)25.7%27.9%8.5%
P/E Multiple15.114.3-5.5%
Shares Outstanding (Mil)880.7%
Cumulative Contribution9.7%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2026 to 6/26/2026
ReturnCorrelation
SFST9.7% 
Market (SPY)6.6%20.0%
Sector (XLF)4.7%40.8%

Fundamental Drivers

The 20.6% change in SFST stock from 11/30/2025 to 6/26/2026 was primarily driven by a 19.0% change in the company's Net Income Margin (%).
(LTM values as of)113020256262026Change
Stock Price ($)50.7661.2320.6%
Change Contribution By: 
Total Revenues ($ Mil)11112512.5%
Net Income Margin (%)23.4%27.9%19.0%
P/E Multiple15.614.3-8.4%
Shares Outstanding (Mil)88-1.6%
Cumulative Contribution20.6%

LTM = Last Twelve Months as of date shown

Market Drivers

11/30/2025 to 6/26/2026
ReturnCorrelation
SFST20.6% 
Market (SPY)7.3%19.5%
Sector (XLF)1.3%44.9%

Fundamental Drivers

The 69.8% change in SFST stock from 5/31/2025 to 6/26/2026 was primarily driven by a 50.5% change in the company's Net Income Margin (%).
(LTM values as of)53120256262026Change
Stock Price ($)36.0761.2369.8%
Change Contribution By: 
Total Revenues ($ Mil)9912527.2%
Net Income Margin (%)18.5%27.9%50.5%
P/E Multiple15.914.3-10.4%
Shares Outstanding (Mil)88-1.0%
Cumulative Contribution69.8%

LTM = Last Twelve Months as of date shown

Market Drivers

5/31/2025 to 6/26/2026
ReturnCorrelation
SFST69.8% 
Market (SPY)25.1%29.3%
Sector (XLF)6.7%51.3%

Fundamental Drivers

The 166.6% change in SFST stock from 5/31/2023 to 6/26/2026 was primarily driven by a 84.8% change in the company's P/E Multiple.
(LTM values as of)53120236262026Change
Stock Price ($)22.9761.23166.6%
Change Contribution By: 
Total Revenues ($ Mil)10412520.6%
Net Income Margin (%)22.9%27.9%21.6%
P/E Multiple7.714.384.8%
Shares Outstanding (Mil)88-1.7%
Cumulative Contribution166.6%

LTM = Last Twelve Months as of date shown

Market Drivers

5/31/2023 to 6/26/2026
ReturnCorrelation
SFST166.6% 
Market (SPY)81.3%35.0%
Sector (XLF)77.0%52.7%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
SFST Return77%-27%-19%7%30%15%68%
Peers Return53%-5%4%24%6%17%132%
S&P 500 Return27%-19%24%23%16%7%96%

Monthly Win Rates [3]
SFST Win Rate83%25%42%58%58%83% 
Peers Win Rate79%42%46%58%62%50% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
SFST Max Drawdown-15%-36%-53%-34%-23%-16% 
Peers Max Drawdown-18%-25%-36%-18%-26%-16% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 

[1] Cumulative total returns since the beginning of 2021
[2] Peers: SSB, ABCB, PNFP, SFBS, SMBK.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 6/26/2026 (YTD)

How Low Can It Go

EventSFSTS&P 500
2025 US Tariff Shock
  % Loss-13.3%-18.8%
  % Gain to Breakeven15.3%23.1%
  Time to Breakeven15 days79 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-11.0%-9.5%
  % Gain to Breakeven12.4%10.5%
  Time to Breakeven10 days24 days
2023 SVB Regional Banking Crisis
  % Loss-49.2%-6.7%
  % Gain to Breakeven97.0%7.1%
  Time to Breakeven552 days31 days
2020 COVID-19 Crash
  % Loss-48.0%-33.7%
  % Gain to Breakeven92.2%50.9%
  Time to Breakeven323 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-21.8%-19.2%
  % Gain to Breakeven27.9%23.8%
  Time to Breakeven53 days105 days
2011 US Debt Ceiling Crisis & European Contagion
  % Loss-38.5%-17.9%
  % Gain to Breakeven62.5%21.8%
  Time to Breakeven208 days123 days

Compare to SSB, ABCB, PNFP, SFBS, SMBK

In The Past

Southern First Bancshares's stock fell -13.3% during the 2025 US Tariff Shock. Such a loss loss requires a 15.3% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventSFSTS&P 500
2023 SVB Regional Banking Crisis
  % Loss-49.2%-6.7%
  % Gain to Breakeven97.0%7.1%
  Time to Breakeven552 days31 days
2020 COVID-19 Crash
  % Loss-48.0%-33.7%
  % Gain to Breakeven92.2%50.9%
  Time to Breakeven323 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-21.8%-19.2%
  % Gain to Breakeven27.9%23.8%
  Time to Breakeven53 days105 days
2011 US Debt Ceiling Crisis & European Contagion
  % Loss-38.5%-17.9%
  % Gain to Breakeven62.5%21.8%
  Time to Breakeven208 days123 days
2010 Eurozone Sovereign Debt Crisis / Flash Crash
  % Loss-32.1%-15.4%
  % Gain to Breakeven47.3%18.2%
  Time to Breakeven180 days125 days
2008-2009 Global Financial Crisis
  % Loss-65.9%-53.4%
  % Gain to Breakeven193.3%114.4%
  Time to Breakeven1454 days1085 days

Compare to SSB, ABCB, PNFP, SFBS, SMBK

In The Past

Southern First Bancshares's stock fell -13.3% during the 2025 US Tariff Shock. Such a loss loss requires a 15.3% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Southern First Bancshares (SFST)

Southern First Bancshares, Inc. (SFST) is a bank holding company that operates Southern First Bank, offering a comprehensive suite of banking products and services. The company's operations are structured into three main segments: Commercial and Retail Banking, Mortgage Banking, and Corporate Operations, focusing on serving both individual consumers and businesses.

The bank's core offerings include a wide array of deposit products such as checking, savings, money market, and certificate of deposit accounts. Its lending activities are extensive, encompassing commercial real estate and construction loans, commercial business loans tailored for various industries, and consumer loans including real estate, home equity, and other secured or unsecured installment and revolving lines of credit.

Southern First Bank primarily serves the general public within specific markets across South Carolina, North Carolina, and Georgia. It maintains a physical presence through retail offices in strategic locations such as Greenville, Charleston, Columbia, Raleigh, Greensboro, Charlotte, and Atlanta. Beyond its primary deposit and loan products, the bank also provides essential services like internet banking, mobile banking, cash management, and direct deposit to enhance customer convenience.

AI Analysis | Feedback

Here are 1-3 brief analogies for Southern First Bancshares (SFST):

  • A regional Wells Fargo, serving the Carolinas and Georgia.
  • Like a smaller Truist, operating across South Carolina, North Carolina, and Georgia.

AI Analysis | Feedback

  • Checking and Savings Accounts: Fundamental deposit accounts for individuals and businesses to manage their money.
  • Money Market Accounts: Interest-bearing deposit accounts offering competitive rates with some liquidity features.
  • Certificates of Deposit (CDs): Time-deposit accounts providing a fixed interest rate for a specific term.
  • Commercial Real Estate & Construction Loans: Financing for the acquisition, development, or refinancing of commercial properties.
  • Commercial Business Loans: Loans provided to businesses across various sectors for operational needs and growth.
  • Consumer Real Estate & Home Equity Loans: Mortgage and equity-backed loans for personal residential properties.
  • Other Consumer Loans: Includes secured and unsecured installment loans and revolving lines of credit for personal use.
  • Digital Banking Services: Convenient internet and mobile banking platforms for account management and transactions.
  • Cash Management Services: Tools and services to help businesses efficiently manage their cash flow.
  • Safe Deposit Boxes: Secure storage facilities for important documents and valuables.
  • Payment & Transfer Services: Features like direct deposit, automatic drafts, and bill payment for seamless fund transfers.

AI Analysis | Feedback

Southern First Bancshares (SFST) serves a diverse customer base, primarily categorized as follows:

  • Businesses/Commercial Clients: This includes various companies across manufacturing, service industries, and professional services. These customers utilize commercial checking accounts, commercial real estate loans, construction real estate loans, and commercial business loans. The company also offers cash management services to these business clients.
  • Individuals/Retail Clients: The general public represents a significant customer group, engaging in retail banking activities. These customers utilize checking accounts, savings accounts, other time deposits, and various consumer loans, including secured and unsecured installment loans and revolving lines of credit.
  • Mortgage Borrowers (Individuals): A distinct category within the individual customer base, these clients primarily seek consumer real estate loans and home equity loans, which are central to the company's Mortgage Banking segment.

AI Analysis | Feedback

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AI Analysis | Feedback

R. Arthur Seaver Jr. Chief Executive Officer

R. Arthur "Art" Seaver, Jr. has served as Chief Executive Officer of Southern First Bancshares since 1999. He possesses over 37 years of banking experience. Prior to forming Southern First Bank, Mr. Seaver held various positions with The Citizens & Southern National Bank of South Carolina from 1986 to 1992. From 1992 until February 1999, he was with Greenville National Bank, where he was a senior vice president in lending and managed deposit strategies before the bank was acquired by Regions Bank in 1998.

Christian J. Zych Chief Financial Officer

Christian J. Zych was appointed Chief Financial Officer and Executive Vice President in May 2024. He brings over 30 years of experience in the banking industry. Before joining Southern First, Mr. Zych spent more than a decade at United Community Bank, most recently serving as Director of Corporate Development and Investor Relations from 2014 until April 2024. In this role, his responsibilities included developing and executing corporate strategy, identifying and negotiating M&A transactions, managing investor relations, and overseeing capital planning.

Calvin C. Hurst President and Chief Banking Officer

Calvin C. Hurst has served as the President of Southern First Bancshares since August 2022, and previously as Chief Banking Officer since March 2019. He has over 18 years of banking experience, having worked for several large financial institutions from 2006 to 2019. His previous roles included Commercial Underwriter, Commercial Relationship Manager, and Regional Vice President for TD Bank, starting in 2016.

Julie A. Fairchild Chief Accounting Officer

Julie A. Fairchild has served as Chief Accounting Officer and Principal Accounting Officer of Southern First Bancshares since October 2024. She joined the bank in 2005 and has held various positions, including Executive Vice President of Accounting and Finance. Prior to her tenure at Southern First Bank, Ms. Fairchild worked as an Audit Manager for Elliott Davis LLC, a regional public accounting and consulting firm.

Silvia T. King Chief Human Resources Officer

Silvia T. King has served as Chief Human Resources Officer of Southern First Bancshares since March 2018. She has over 20 years of human resources leadership experience, with prior roles in human resources and senior management at Monsanto Company and Select Comfort Corporation from 2009 to 2016.

AI Analysis | Feedback

Southern First Bancshares (SFST) faces key risks primarily related to asset quality and the fluctuations within the mortgage banking sector.

  1. Credit Risk and Asset Quality: While Southern First Bank generally maintains strong asset quality, there have been some minor concerns regarding nonperforming assets. The ratio of nonperforming assets to total assets saw a slight increase in the final quarter of 2025, an area warranting attention. For smaller banks like Southern First, loan quality ratios can be significantly impacted by even a limited number of deteriorated loan relationships.
  2. Exposure to Mortgage Banking Income Volatility: Mortgage banking income constitutes the largest portion of Southern First Bancshares' noninterest income. This reliance makes the company susceptible to changes in mortgage origination and closing volumes, which can introduce volatility to its overall earnings.

AI Analysis | Feedback

The rise of neobanks and digital-first challenger banks poses an emerging threat to Southern First Bancshares. These institutions operate with significantly lower overhead due to the absence of a physical branch network, allowing them to offer more competitive rates, lower fees, and often superior digital user experiences. They directly threaten Southern First Bancshares' ability to attract and retain deposit accounts (checking, savings, money market) and basic transaction services, especially among digitally-savvy customers.

Additionally, the growth of specialized fintech lenders represents an emerging threat. These online lenders leverage advanced analytics and technology to offer faster, more convenient, and sometimes more tailored lending solutions for specific segments, such as small business loans or consumer personal loans. By providing alternative options for borrowers, these fintechs can disintermediate traditional banks and directly impact Southern First Bancshares' commercial business loan, consumer real estate, and other consumer loan portfolios.

AI Analysis | Feedback

Southern First Bancshares (SFST) operates in the commercial and retail banking, and mortgage banking segments across South Carolina, North Carolina, and Georgia. The addressable markets for its main products and services in these regions are substantial.

South Carolina

  • Mortgage Originations: In 2024, the total mortgage loan value in South Carolina was approximately $37.6 billion (U.S. region). Approximately 181,343 mortgage applications were processed in 2024, with an average loan amount of $276,897.
  • Deposits: Community bank branches in South Carolina held approximately $45.7 billion in total deposits as of December 13, 2024 (U.S. region).

North Carolina

  • Total Deposits: As of Q2 2024, banks operating in North Carolina held $693 billion in deposits (U.S. region).
  • New Home Loans: In 2024, new home loans booked in North Carolina totaled $37.2 billion (U.S. region).
  • Small Business Loans: North Carolina banks provided $21.3 billion in small business loans in 2024 (U.S. region). Another source indicates $9.9 billion in loans to small businesses in 2024.
  • Small Farm Loans: The market for small farm loans in North Carolina was $2.1 billion in 2024 (U.S. region).
  • Commercial Real Estate: While a precise overall commercial real estate lending market size is not explicitly stated, North Carolina's commercial leasing industry is projected to reach $4.0 billion in 2026. The state is home to over 864,000 active businesses that require commercial property financing.

Georgia (U.S. State)

  • Total Deposits: As of Q2 2024, banks operating in Georgia held $342 billion in deposits (U.S. region).
  • New Home Loans: In 2024, new home loans booked in Georgia totaled $36.5 billion (U.S. region). The total mortgage loan value in Georgia was approximately $71.0 billion in 2024.
  • Small Business Loans: Banks in Georgia provided $22 billion in small business loans in 2024 (U.S. region).
  • Small Farm Loans: The market for small farm loans in Georgia was $2.6 billion in 2024 (U.S. region).
  • Commercial Real Estate Loans: The real estate loans and collateralized debt industry in Georgia is projected to be $18.4 billion in 2026 (U.S. region). Georgia also saw an annual commercial real estate investment volume of approximately $19.8 billion.

AI Analysis | Feedback

Southern First Bancshares (SFST) is expected to drive future revenue growth over the next 2-3 years through several key initiatives and market advantages:

  • Expansion within High-Growth Southeastern Markets: The company benefits from its strategic presence in metropolitan areas across South Carolina, North Carolina, and Georgia, which are projected to experience population growth approximately 2.5 times the national average. This favorable geographic footprint is anticipated to fuel both deposit and loan growth.
  • Continued Loan and Deposit Growth: Southern First Bancshares has demonstrated strong growth in its loan portfolio, which contributed significantly to an increase in total assets. Total loans reached $3.7 billion in the second quarter of 2025, reflecting an approximate 7% annualized growth from the first quarter, driven by robust contributions from both commercial and consumer lending segments. Total deposits also experienced a 1.7% annualized increase.
  • Net Interest Margin Expansion: The company is well-positioned to benefit from adjusting interest rates. As time deposits, such as Certificates of Deposit (CDs), mature, the bank expects to lower the interest rates paid on these deposits. Concurrently, many of its loans are anticipated to reprice to higher rates, leading to a continued expansion of its net interest margin, with some benefits becoming even more pronounced in 2026.
  • Improved Operational Efficiency: Southern First Bancshares has successfully increased revenues while maintaining cost control, resulting in an improved efficiency ratio. This ongoing focus on operational efficiency and cost management is expected to enhance profitability and contribute to overall net revenue growth.
  • Leveraging Enhanced Client Experience and Technology: While its new corporate headquarters in Greenville, SC, including a flagship retail banking office, was completed in December 2021, the company continues to benefit from this investment. The facility and its integration of forward-focused technology, such as Interactive Teller Machines (ITMs), aim to combine convenience, simplicity, and strong client relationships, which are crucial for attracting and retaining customers, thereby supporting sustained revenue growth.

AI Analysis | Feedback

Share Repurchases

  • Southern First Bancshares authorized a share repurchase plan of up to $5 million of its common stock in June 2025, which represents approximately 2% of its outstanding shares.
  • This repurchase authorization is set to remain in effect until March 22, 2026.
  • The company is not obligated to repurchase any shares under this plan.

Share Issuance

  • The number of shares outstanding for Southern First Bancshares has seen slight increases over the last few years, reaching 8.03 million at the end of 2025.
  • In 2024, the company had 8.02 million shares outstanding, which was an increase of 0.1% from the previous year.
  • Looking back to 2021, the company reported 7.87 million shares outstanding.

Capital Expenditures

  • In the fourth quarter of 2025, Southern First invested $272,000 in capital expenditures.
  • This amount represents a 209.1% increase in capital expenditures compared to the prior quarter.
  • These capital expenditures were primarily used for funding long-term assets and infrastructure.

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CDNLCardinal Infrastructure1.485.3%280.5%
APGEApogee Therapeutics9.270.5%75.6%
APPSDigital Turbine1.365.7%121.4%
MBXMBX Biosciences2.464.1%65.9%

Top Losers

TickerCompanyMkt Cap (B)1M RtnYTD Rtn
ADCTADC Therapeutics0.2-70.3%-71.1%
FLYFirefly Aerospace4.1-55.4%14.2%
RDWRedwire2.1-54.5%43.8%
SATLSatellogic0.7-52.7%147.1%
BKSYBlackSky Technology0.9-51.5%32.1%
LUNRIntuitive Machines2.4-50.9%21.9%
HTZHertz Global0.8-49.8%-48.6%
TMCRMetals Royalty0.4-49.5%-52.1%
MSTRStrategy27.5-46.6%-45.8%
PLPlanet Labs PBC8.6-46.4%37.3%

More From Trefis

Research & Analysis

Invest in Strategies

Wealth Management

Peer Comparisons

Peers to compare with:

Financials

SFSTSSBABCBPNFPSFBSSMBKMedian
NameSouthern.SouthSta.Ameris B.Pinnacle.Servisfi.SmartFin. 
Mkt Price61.23101.3791.00101.0488.5247.9789.76
Mkt Cap0.510.06.115.34.80.85.5
Rev LTM1252,6481,2032,570583203893
Op Inc LTM-------
FCF LTM336535051,61837056437
FCF 3Y Avg2748239482026846331
CFO LTM347265301,70737764454
CFO 3Y Avg2853341390327353343

Growth & Margins

SFSTSSBABCBPNFPSFBSSMBKMedian
NameSouthern.SouthSta.Ameris B.Pinnacle.Servisfi.SmartFin. 
Rev Chg LTM27.2%40.7%7.0%61.7%17.0%14.2%22.1%
Rev Chg 3Y Avg8.1%16.9%4.5%25.7%6.9%6.9%7.5%
Rev Chg Q27.6%4.9%10.5%168.3%20.6%14.9%17.8%
QoQ Delta Rev Chg LTM6.2%1.2%2.5%40.7%4.9%3.6%4.2%
Op Inc Chg LTM-------
Op Inc Chg 3Y Avg-------
Op Mgn LTM-------
Op Mgn 3Y Avg-------
QoQ Delta Op Mgn LTM-------
CFO/Rev LTM26.8%27.4%44.1%66.4%64.7%31.4%37.7%
CFO/Rev 3Y Avg26.4%26.4%36.8%44.0%53.5%29.6%33.2%
FCF/Rev LTM26.3%24.6%42.0%63.0%63.5%27.6%34.8%
FCF/Rev 3Y Avg25.4%24.0%35.1%39.3%52.4%25.8%30.5%

Valuation

SFSTSSBABCBPNFPSFBSSMBKMedian
NameSouthern.SouthSta.Ameris B.Pinnacle.Servisfi.SmartFin. 
Mkt Cap0.510.06.115.34.80.85.5
P/S4.03.85.15.98.34.04.5
P/Op Inc-------
P/EBIT-------
P/E14.310.714.123.416.315.314.8
P/CFO14.913.811.68.912.812.612.7
Total Yield7.0%11.7%8.0%5.1%7.3%7.2%7.2%
Dividend Yield0.0%2.4%0.9%0.9%1.1%0.7%0.9%
FCF Yield 3Y Avg8.5%6.4%9.6%-6.7%9.0%8.5%
D/E0.50.10.20.40.00.10.1
Net D/E0.3-0.0-0.1-0.8-0.4-0.8-0.3

Returns

SFSTSSBABCBPNFPSFBSSMBKMedian
NameSouthern.SouthSta.Ameris B.Pinnacle.Servisfi.SmartFin. 
1M Rtn6.5%6.8%7.1%3.1%14.0%15.7%7.0%
3M Rtn14.5%13.7%19.9%22.4%22.0%25.6%21.0%
6M Rtn15.9%7.1%20.4%7.3%21.6%27.4%18.2%
12M Rtn59.7%13.1%42.0%7.3%14.8%44.8%28.4%
3Y Rtn137.3%66.4%175.0%7.3%118.5%129.7%124.1%
1M Excs Rtn8.7%9.0%9.3%5.4%16.2%17.9%9.2%
3M Excs Rtn0.2%-2.6%4.2%6.4%7.1%11.0%5.3%
6M Excs Rtn9.3%0.5%13.3%0.9%14.5%19.4%11.3%
12M Excs Rtn43.6%-3.7%25.0%-13.4%-3.0%28.0%11.0%
3Y Excs Rtn72.6%-7.9%108.8%-61.1%46.8%51.4%49.1%

Comparison Analyses

null

Financials

$ Mil | FY: 12/312026Q12025Q42025Q32025Q22025Q12024Q42024Q32024Q22024Q12023Q42023Q32023Q2
Period End3/31/202612/31/20259/30/20256/30/20253/31/202512/31/20249/30/20246/30/20243/31/202412/31/20239/30/20236/30/2023
Filing Date5/1/20262/24/202610/31/20258/1/20255/5/20253/3/202511/1/20247/31/20244/30/20243/5/202410/31/20238/1/2023
Key Financials Quarterly            
Total Revenue343231292625242321212222
Net Income10109756433442
EPS1.211.231.080.810.650.700.540.370.310.510.510.31
Key Financials TTM            
Total Revenue TTM1251181111049993908886889298
Net Income TTM353026221816141413131519
Growth Rates Quarterly            
Total Revenue Growth27.6%26.1%31.0%24.2%24.3%18.0%7.6%6.9%-5.2%-17.2%-21.5%-21.7%
Net Income Growth87.8%75.2%97.7%119.4%108.8%35.0%6.9%22.0%-6.7%-24.1%-51.3%-66.0%
Margins Quarterly            
Net Income Margin29.3%31.0%27.8%23.0%19.9%22.3%18.4%13.0%11.8%19.5%18.5%11.4%
Cash & Debt            
Total Cash1158610591423516915214946169126
Total Debt265265265265265265265276276311311216
Net Debt / (Cash)1501791601742232309612512826514390
Cash Flows Quarterly            
FCF from Operations11-214108-2264-3716-7
Cash Flows TTM            
FCF from Operations TTM343031433626342413182431
Returns to Shareholders Quarterly            
Dividends000000000000
Share Repurchases-0-0-0-0-0-0-0-0-0-0-0-0
Return on Invested Capital (ROIC) Quarterly            
ROIC14.7%13.3%12.6%9.2%6.3%6.6%8.5%5.2%4.3%4.5%6.7%5.1%
Return on Invested Capital (ROIC) TTM            
ROIC TTM13.0%10.3%9.5%7.6%5.5%4.6%6.8%5.9%5.6%3.6%6.0%9.8%

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Financial service operations1189388108105
Total1189388108105


Net Income by Segment
$ Mil20212020201920182017
Commercial and retail banking4511252212
Mortgage banking39311
Corporate Operations-1-2-1-1-0
Total4718282213


Assets by Segment
$ Mil20212020201920182017
Commercial and retail banking2,8992,4192,2391,9051,616
Corporate Operations314265242187163
Mortgage banking26632798
Eliminations-314-264-242-201-163
Total2,9262,4832,2671,9011,625


Price Behavior

Price Behavior
Market Price$61.23 
Market Cap ($ Bil)0.5 
First Trading Date10/28/1999 
Distance from 52W High-0.5% 
   50 Days200 Days
DMA Price$57.54$52.81
DMA Trendupup
Distance from DMA6.4%15.9%
 3M1YR
Volatility28.5%31.4%
Downside Capture22.3959.10
Upside Capture58.81102.60
Correlation (SPY)19.3%27.9%
SFST Betas & Captures as of 5/31/2026

 1M2M3M6M1Y3Y
Beta0.671.000.650.640.910.85
Up Beta0.001.320.981.021.110.81
Down Beta1.38-0.75-0.160.170.560.71
Up Capture63%66%61%68%116%106%
Bmk +ve Days13283667141432
Stock +ve Days10243665126384
Down Capture89%163%84%60%83%96%
Bmk -ve Days7132757109318
Stock -ve Days10162657120360

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with SFST
SFST63.7%31.6%1.59-
Sector ETF (XLF)5.5%14.5%0.1550.6%
Equity (SPY)21.2%12.4%1.2627.1%
Gold (GLD)21.8%27.7%0.700.0%
Commodities (DBC)21.8%18.6%0.92-19.5%
Real Estate (VNQ)16.1%13.6%0.8533.5%
Bitcoin (BTCUSD)-44.7%42.5%-1.279.8%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with SFST
SFST4.0%34.2%0.18-
Sector ETF (XLF)10.7%18.6%0.4454.3%
Equity (SPY)13.4%17.1%0.6138.9%
Gold (GLD)17.8%18.3%0.79-1.3%
Commodities (DBC)7.4%19.5%0.285.7%
Real Estate (VNQ)3.4%18.9%0.0838.0%
Bitcoin (BTCUSD)10.7%54.0%0.3913.5%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with SFST
SFST9.5%37.9%0.36-
Sector ETF (XLF)13.3%22.1%0.5560.1%
Equity (SPY)15.2%18.0%0.7245.3%
Gold (GLD)11.8%16.1%0.60-3.7%
Commodities (DBC)5.9%18.0%0.2613.5%
Real Estate (VNQ)5.6%20.7%0.2345.6%
Bitcoin (BTCUSD)54.6%66.4%0.9511.8%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date6152026
Short Interest: Shares Quantity0.2 Mil
Short Interest: % Change Since 531202645.2%
Average Daily Volume0.1 Mil
Days-to-Cover Short Interest1.5 days
Basic Shares Quantity8.2 Mil
Short % of Basic Shares2.3%

Returns Analyses

Earnings Returns History

Updated 6/2/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
4/21/20260.6%0.4%-0.7%
1/22/20263.4%-5.6%6.8%
10/28/20256.1%4.5%21.0%
7/22/20259.1%11.0%4.0%
4/22/20254.1%4.2%19.2%
1/28/20252.1%-3.6%-8.5%
10/22/20244.9%4.5%20.1%
7/18/20243.0%2.0%-9.6%
...
SUMMARY STATS   
# Positive161313
# Negative81111
Median Positive2.8%4.5%13.0%
Median Negative-3.3%-3.6%-5.4%
Max Positive9.1%11.0%22.7%
Max Negative-7.2%-9.0%-15.0%
 Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
4/21/20260.6%0.4%-0.7%
1/22/20263.4%-5.6%6.8%
10/28/20256.1%4.5%21.0%
7/22/20259.1%11.0%4.0%
4/22/20254.1%4.2%19.2%
1/28/20252.1%-3.6%-8.5%
10/22/20244.9%4.5%20.1%
7/18/20243.0%2.0%-9.6%
4/18/20246.4%0.1%6.4%
1/18/20241.6%7.6%-5.4%
10/19/20230.7%-0.7%11.0%
7/25/2023-1.6%5.0%-0.8%
4/25/2023-7.2%-9.0%-15.0%
1/24/2023-5.4%-5.3%-6.7%
10/25/20223.9%7.0%15.2%
7/26/2022-3.9%-4.1%-3.5%
4/26/2022-2.9%-4.7%-10.2%
1/25/20221.3%-2.3%-4.9%
10/26/2021-1.0%-0.4%18.2%
7/27/2021-0.8%-2.2%-2.2%
4/27/20212.7%5.0%3.5%
1/26/20210.9%0.9%13.0%
10/27/2020-3.8%2.5%22.7%
7/28/20200.1%-0.9%5.0%
SUMMARY STATS   
# Positive161313
# Negative81111
Median Positive2.8%4.5%13.0%
Median Negative-3.3%-3.6%-5.4%
Max Positive9.1%11.0%22.7%
Max Negative-7.2%-9.0%-15.0%

SEC Filings

Expand for More
Report DateFiling DateFiling
03/31/202605/01/202610-Q
12/31/202502/24/202610-K
09/30/202510/31/202510-Q
06/30/202508/01/202510-Q
03/31/202505/05/202510-Q
12/31/202403/03/202510-K
09/30/202411/01/202410-Q
06/30/202407/31/202410-Q
03/31/202404/30/202410-Q
12/31/202303/05/202410-K
09/30/202310/31/202310-Q
06/30/202308/01/202310-Q
03/31/202305/02/202310-Q
12/31/202202/13/202310-K
09/30/202211/01/202210-Q
06/30/202208/02/202210-Q
 Collapse to Preview
Report DateFiling DateFiling
03/31/202605/01/202610-Q
12/31/202502/24/202610-K
09/30/202510/31/202510-Q
06/30/202508/01/202510-Q
03/31/202505/05/202510-Q
12/31/202403/03/202510-K
09/30/202411/01/202410-Q
06/30/202407/31/202410-Q
03/31/202404/30/202410-Q
12/31/202303/05/202410-K
09/30/202310/31/202310-Q
06/30/202308/01/202310-Q
03/31/202305/02/202310-Q
12/31/202202/13/202310-K
09/30/202211/01/202210-Q
06/30/202208/02/202210-Q
03/31/202205/06/202210-Q
12/31/202103/04/202210-K
09/30/202111/02/202110-Q
06/30/202108/05/202110-Q
03/31/202104/29/202110-Q
12/31/202003/02/202110-K
09/30/202011/02/202010-Q
06/30/202008/03/202010-Q
03/31/202004/28/202010-Q
12/31/201903/02/202010-K
09/30/201911/01/201910-Q
06/30/201908/02/201910-Q

Insider Activity

Updated 6/12/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value		Value of
Held Shares		Form
1Cubbage, Leighton M DirectSell612202660.6076546,3593,073,329Form
2Maner, William IV DirectBuy309202652.3540020,940187,675Form
3King, Silvia TChief Human Resources OfficerDirectSell227202660.492,625158,796239,737Form
4Seaver, R Arthur JRChief Executive OfficerDirectSell1217202555.1410,000551,4195,936,246Form
5Ellison, David G DirectSell1210202553.281,00053,2852,646,186Form
 Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value		Value of
Held Shares		Form
1Cubbage, Leighton M DirectSell612202660.6076546,3593,073,329Form
2Maner, William IV DirectBuy309202652.3540020,940187,675Form
3King, Silvia TChief Human Resources OfficerDirectSell227202660.492,625158,796239,737Form
4Seaver, R Arthur JRChief Executive OfficerDirectSell1217202555.1410,000551,4195,936,246Form
5Ellison, David G DirectSell1210202553.281,00053,2852,646,186Form
6Fairchild, Julie AnnChief Accounting OfficerDirectSell1125202550.001,25862,900223,000Form
7Ellison, David G DirectBuy1106202543.502008,7002,203,754Form
8Ellison, David G DirectBuy1103202544.001004,4002,220,284Form
9Locke, Anna T DirectBuy1103202544.052259,912145,027Form
10Cubbage, Leighton M DirectSell829202545.12351,5792,308,790Form
11Cubbage, Leighton M DirectSell625202535.721,08338,6851,829,043Form
12Ellefson, Anne S DirectSell605202535.0150017,506234,480Form

Industry Resources

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Core Cache Last Updated: 6/26/2026