Southern First Bancshares rises after Piper Sandler upgrades to 'overweight'

Southern First Bancshares

03/01/2024 15:16

** Shares of lender Southern First Bancshares  SFST.O  rise
2.6% to $37.76
    ** Piper Sandler upgrades rating to "overweight" from
"neutral"; raises price target to $44 from $34
    ** SFST is in a position to rebound this year given the
dovish pivot of Federal Reserve on interest rates, says
brokerage
    ** Company's net interest margin has bottomed and remains in
a good position to rebound should rates stabilize - Piper
Sandler
    ** Funding pressures have eased while loan yields will move
up, says brokerage
    ** Stock fell ~18.91% in 2023

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com))