ServisFirst Bancshares (NYSE:SFBS) Issues Quarterly Earnings Results

ServisFirst Bancshares (NYSE:SFBS) issued its earnings results on Monday. The financial services provider reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.13, Yahoo Finance reports. The company had revenue of $256.53 million during the quarter, compared to analysts’ expectations of $120.70 million. ServisFirst Bancshares had a net margin of 21.25% and a return on equity of 14.19%. During the same period last year, the company posted $0.98 earnings per share.

ServisFirst Bancshares Stock Up 1.3 %

Shares of NYSE SFBS opened at $83.91 on Wednesday. The firm has a market cap of $4.57 billion, a P/E ratio of 23.18 and a beta of 0.86. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.94 and a current ratio of 0.94. ServisFirst Bancshares has a 1 year low of $45.21 and a 1 year high of $88.86. The firm’s 50 day moving average price is $79.99 and its 200 day moving average price is $70.51.

ServisFirst Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Tuesday, October 1st were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.43%. The ex-dividend date was Tuesday, October 1st. ServisFirst Bancshares’s payout ratio is 33.15%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Piper Sandler upped their price target on ServisFirst Bancshares from $76.00 to $79.00 and gave the stock a “neutral” rating in a report on Tuesday. Hovde Group raised their price target on ServisFirst Bancshares from $80.00 to $91.00 and gave the company a “market perform” rating in a research report on Tuesday.

Insider Buying and Selling at ServisFirst Bancshares

In other news, COO Rodney Eldon Rushing sold 12,000 shares of the firm’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $80.58, for a total transaction of $966,960.00. Following the sale, the chief operating officer now owns 307,837 shares in the company, valued at $24,805,505.46. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 7.40% of the stock is currently owned by insiders.

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.