ServisFirst Bancshares (NYSE:SFBS) Sets New 1-Year High – Here’s What Happened

ServisFirst Bancshares, Inc. (NYSE:SFBS) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $86.99 and last traded at $86.99, with a volume of 41061 shares traded. The stock had previously closed at $83.48.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Hovde Group boosted their price target on ServisFirst Bancshares from $68.00 to $76.00 and gave the company a “market perform” rating in a research note on Tuesday, July 16th. Piper Sandler upped their target price on ServisFirst Bancshares from $63.00 to $70.00 and gave the company a “neutral” rating in a research report on Tuesday, July 16th.

ServisFirst Bancshares Stock Up 1.9 %

The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $4.63 billion, a price-to-earnings ratio of 23.06 and a beta of 0.86. The business’s 50-day moving average is $78.56 and its 200-day moving average is $69.60.

ServisFirst Bancshares (NYSE:SFBS) last issued its earnings results on Monday, July 15th. The financial services provider reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.04. The firm had revenue of $114.77 million for the quarter, compared to the consensus estimate of $114.80 million. ServisFirst Bancshares had a return on equity of 14.19% and a net margin of 21.25%. As a group, equities analysts predict that ServisFirst Bancshares, Inc. will post 3.88 earnings per share for the current year.

ServisFirst Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Tuesday, October 1st were given a $0.30 dividend. The ex-dividend date was Tuesday, October 1st. This represents a $1.20 annualized dividend and a yield of 1.41%. ServisFirst Bancshares’s dividend payout ratio is presently 33.15%.

Insider Transactions at ServisFirst Bancshares

In other ServisFirst Bancshares news, COO Rodney Eldon Rushing sold 12,000 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $80.58, for a total value of $966,960.00. Following the completion of the transaction, the chief operating officer now owns 307,837 shares in the company, valued at approximately $24,805,505.46. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 7.40% of the company’s stock.

Institutional Trading of ServisFirst Bancshares

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Creative Planning lifted its holdings in ServisFirst Bancshares by 6.5% during the third quarter. Creative Planning now owns 3,383 shares of the financial services provider’s stock valued at $272,000 after purchasing an additional 205 shares in the last quarter. Mechanics Bank Trust Department acquired a new stake in ServisFirst Bancshares in the 3rd quarter worth about $225,000. Diversified Trust Co boosted its holdings in ServisFirst Bancshares by 6.8% in the 3rd quarter. Diversified Trust Co now owns 13,414 shares of the financial services provider’s stock worth $1,079,000 after buying an additional 850 shares during the last quarter. GAMMA Investing LLC boosted its holdings in ServisFirst Bancshares by 138.6% in the 3rd quarter. GAMMA Investing LLC now owns 921 shares of the financial services provider’s stock worth $74,000 after buying an additional 535 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in ServisFirst Bancshares during the 2nd quarter worth approximately $84,000. 67.31% of the stock is currently owned by hedge funds and other institutional investors.

About ServisFirst Bancshares

ServisFirst Bancshares, Inc operates as the bank holding company for ServisFirst Bank that provides various banking services to individual and corporate customers. It accepts demand, time, savings, and other deposits; checking, money market, and IRA accounts; and certificates of deposit. The company's loan products include commercial lending products, including seasonal, bridge, and term loans for working capital, expansion of the business, acquisition of property, and plant and equipment, as well as commercial lines of credit; commercial real estate loans, construction and development loans, and residential real estate loans; and consumer loans, such as home equity loans, vehicle financing, loans secured by deposits, and secured and unsecured personal loans.