ServisFirst Bancshares (NYSE:SFBS) Sets New 12-Month High – What’s Next?

Shares of ServisFirst Bancshares, Inc. (NYSE:SFBS) hit a new 52-week high during trading on Wednesday . The company traded as high as $90.49 and last traded at $90.49, with a volume of 240 shares changing hands. The stock had previously closed at $86.42.

Wall Street Analysts Forecast Growth

SFBS has been the subject of several research reports. Hovde Group increased their price target on shares of ServisFirst Bancshares from $80.00 to $91.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 22nd. Piper Sandler lifted their target price on shares of ServisFirst Bancshares from $76.00 to $79.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd.

ServisFirst Bancshares Trading Up 2.6 %

The stock’s 50 day moving average is $81.87 and its 200-day moving average is $72.51. The company has a market cap of $5.24 billion, a P/E ratio of 25.05 and a beta of 0.86. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.04.

ServisFirst Bancshares (NYSE:SFBS) last issued its earnings results on Monday, October 21st. The financial services provider reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.13. The business had revenue of $256.53 million during the quarter, compared to analysts’ expectations of $120.70 million. ServisFirst Bancshares had a net margin of 21.16% and a return on equity of 14.23%. During the same period in the previous year, the company earned $0.98 earnings per share. Research analysts anticipate that ServisFirst Bancshares, Inc. will post 4.09 earnings per share for the current fiscal year.

ServisFirst Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Tuesday, October 1st were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend was Tuesday, October 1st. ServisFirst Bancshares’s payout ratio is 32.09%.

Insider Transactions at ServisFirst Bancshares

In other news, SVP Henry Fulbrook Abbott sold 1,000 shares of the stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $85.20, for a total transaction of $85,200.00. Following the transaction, the senior vice president now directly owns 8,501 shares of the company’s stock, valued at $724,285.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, COO Rodney Eldon Rushing sold 12,000 shares of ServisFirst Bancshares stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $80.58, for a total transaction of $966,960.00. Following the transaction, the chief operating officer now directly owns 307,837 shares of the company’s stock, valued at $24,805,505.46. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Henry Fulbrook Abbott sold 1,000 shares of the stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $85.20, for a total transaction of $85,200.00. Following the completion of the sale, the senior vice president now directly owns 8,501 shares of the company’s stock, valued at $724,285.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 7.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of SFBS. Quest Partners LLC boosted its stake in ServisFirst Bancshares by 4,880.0% in the 2nd quarter. Quest Partners LLC now owns 996 shares of the financial services provider’s stock worth $63,000 after purchasing an additional 976 shares during the period. GAMMA Investing LLC boosted its position in shares of ServisFirst Bancshares by 138.6% during the third quarter. GAMMA Investing LLC now owns 921 shares of the financial services provider’s stock worth $74,000 after acquiring an additional 535 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of ServisFirst Bancshares during the second quarter worth $84,000. LMR Partners LLP purchased a new position in ServisFirst Bancshares during the third quarter valued at $203,000. Finally, CIBC Asset Management Inc increased its holdings in ServisFirst Bancshares by 8.7% in the 2nd quarter. CIBC Asset Management Inc now owns 3,328 shares of the financial services provider’s stock valued at $210,000 after acquiring an additional 267 shares during the last quarter. Institutional investors own 67.31% of the company’s stock.

ServisFirst Bancshares Company Profile

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.