Southern First Bancshares' Q2 profit rises on loan growth and margin expansion - SFST News | RalliesSouthern First Bancshares' Q2 profit rises on loan growth and margin expansion
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SFST• No specific guidance issued
- Company did not provide specific financial guidance for future quarters or the full year in press release
Key operating drivers and valuation metrics
- LOAN GROWTH - Net interest income rose 28% yr/yr, driven primarily by new loan volume
- MARGIN EXPANSION - Net interest margin increased to 2.87% from 2.50% a year ago
- RETAIL DEPOSIT GROWTH - Retail client deposits increased by $184 mln in Q2, a 22% annualized growth rate
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|
| Q2 Revenue | Beat | $35.88 mln | $30.50 mln (1 Analyst) |
| Q2 EPS | | $1.20 | |
| Q2 Net Income | | $11.20 mln | |
| Q2 CET1 Capital Ratio | | 12.82% | |
- The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 1 "strong buy" or "buy", 1 "hold" and no or
"sell"
"strong sell"
The average consensus recommendation for the banks peer group is "buy"Wall Street's median 12-month price target for Southern First Bancshares Inc is $66.50, about 8.3% above its July 20 closing price of $61.39The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 10 three months agoQuarterly profit rises on stronger lending and margins
- US regional bank's Q2 revenue rose 25% yr/yr on strong loan growth and margin expansion
- Q2 diluted EPS rose yr/yr to $1.20; net income up 70% to $11.2 mln
- Company raised $65.2 mln in capital, boosting CET1 ratio to 12.8%
