Southern First Bancshares authorizes $5 million share repurchase plan

Southern First Bancshares, Inc. (NASDAQ:SFST), a regional bank with a market capitalization of $287 million, announced Tuesday that its Board of Directors has authorized the repurchase of up to $5 million of the company’s common stock, representing approximately 2% of its outstanding shares. According to InvestingPro analysis, the company currently trades at an attractive P/E ratio of 15.6x relative to its near-term earnings growth potential.

Under the repurchase plan, the company may acquire shares through various methods including open market purchases and privately negotiated transactions. The timing, quantity, and prices of any repurchases will be at management’s discretion, subject to certain limitations.

The plan is designed to provide capital management opportunities for the company, depending on market and business conditions. Southern First is not obligated to repurchase any shares under the program.

The repurchase authorization will remain in effect until March 22, 2026, after which additional Board of Directors and Federal Reserve approval would be required to continue the program.

The announcement was made in an SEC filing dated June 17, 2025. Southern First Bancshares is headquartered in Greenville, South Carolina.

In other recent news, Southern First Bancshares has made several noteworthy announcements. Piper Sandler upgraded Southern First Bancshares to an Overweight rating, setting a price target of $43. This upgrade highlights a shift in the bank’s strategy, as improvements in its net interest margin have been observed, with expectations for further growth by the end of 2026. Additionally, Southern First Bancshares has expanded its board by appointing three new directors: Jennie Cluverius, Darrin Goss, and Billy McClatchey. These appointments, effective June 1, 2025, bring diverse expertise in legal, community development, and financial sectors to the board.

Furthermore, the company announced the promotion of Wes Wilbanks to Chief Credit Officer and Executive Vice President. Wilbanks, who joined Southern First in 2021, brings 25 years of banking experience to his new role. This strategic move aligns with the company’s focus on growth and risk management within its loan portfolio. Southern First Bancshares continues to strengthen its leadership team to support its strategic objectives and maintain its service-oriented approach.

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