Southern First Bancshares falls after stock offering announced

Piper Sandler Companies

15/04/2026 21:21

** Regional lender Southern First Bancshares SFST.O down 6.6% post-market at $55 as it looks to bolster its coffers

** Greenville, South Carolina-based SFST announces stock offering without disclosing raise target

** Intends to use net offering proceeds for general purposes, including for growth, providing capital to its bank subsidiary, paying down debt and for working capital

** Piper Sandler sole bookrunner, joined by KBW as co-manager

** With ~8.2 mln shares outstanding, SFST has $485 mln market cap

** Stock edged up 2 cents to close at $58.87 on Weds. Stock up 14% YTD and about 85% over the past 12 months

** Just Piper Sandler analysts cover the stock with 'overweight' rating and $64 PT, according to LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))