Wells Fargo & Company MN reduced its position in ServisFirst Bancshares, Inc. (NASDAQ:SFBS) by 30.8% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 66,177 shares of the financial services provider’s stock after selling 29,423 shares during the quarter. Wells Fargo & Company MN owned about 0.12% of ServisFirst Bancshares worth $2,570,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently made changes to their positions in SFBS. Schwab Charles Investment Management Inc. increased its stake in ServisFirst Bancshares by 0.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 199,408 shares of the financial services provider’s stock valued at $7,357,000 after buying an additional 1,723 shares during the period. Legal & General Group Plc boosted its position in shares of ServisFirst Bancshares by 9.1% during the 2nd quarter. Legal & General Group Plc now owns 84,895 shares of the financial services provider’s stock worth $3,131,000 after purchasing an additional 7,066 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of ServisFirst Bancshares by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 4,229 shares of the financial services provider’s stock worth $156,000 after purchasing an additional 633 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of ServisFirst Bancshares by 3.3% during the 2nd quarter. Principal Financial Group Inc. now owns 372,066 shares of the financial services provider’s stock worth $13,726,000 after purchasing an additional 11,805 shares in the last quarter. Finally, Eaton Vance Management purchased a new stake in shares of ServisFirst Bancshares during the 2nd quarter worth $1,048,000. 43.15% of the stock is currently owned by institutional investors.
In related news, CEO Rex D. Mckinney sold 33,000 shares of the business’s stock in a transaction dated Thursday, October 19th. The shares were sold at an average price of $40.68, for a total value of $1,342,440.00. Following the sale, the chief executive officer now directly owns 37,340 shares in the company, valued at approximately $1,518,991.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO William M. Foshee sold 18,000 shares of the business’s stock in a transaction dated Wednesday, October 25th. The stock was sold at an average price of $40.70, for a total transaction of $732,600.00. Following the completion of the sale, the chief financial officer now owns 289,502 shares in the company, valued at $11,782,731.40. The disclosure for this sale can be found here. Insiders have sold a total of 61,000 shares of company stock worth $2,497,540 over the last 90 days. Insiders own 14.04% of the company’s stock.
Shares of ServisFirst Bancshares, Inc. (NASDAQ SFBS) opened at $41.42 on Friday. The company has a market cap of $2,194.39, a price-to-earnings ratio of 23.80 and a beta of 1.41. ServisFirst Bancshares, Inc. has a 1 year low of $32.54 and a 1 year high of $44.00. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.98 and a current ratio of 0.98.
ServisFirst Bancshares (NASDAQ:SFBS) last issued its earnings results on Monday, October 16th. The financial services provider reported $0.47 EPS for the quarter, topping the consensus estimate of $0.45 by $0.02. The company had revenue of $63.19 million for the quarter, compared to analyst estimates of $64.08 million. ServisFirst Bancshares had a net margin of 35.08% and a return on equity of 16.84%. sell-side analysts predict that ServisFirst Bancshares, Inc. will post 1.73 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, January 12th. Shareholders of record on Tuesday, January 2nd were given a dividend of $0.05 per share. The ex-dividend date was Friday, December 29th. This represents a $0.20 annualized dividend and a dividend yield of 0.48%. ServisFirst Bancshares’s payout ratio is currently 11.49%.
SFBS has been the topic of several research analyst reports. Zacks Investment Research upgraded shares of ServisFirst Bancshares from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a research report on Saturday. BidaskClub lowered shares of ServisFirst Bancshares from a “buy” rating to a “hold” rating in a research report on Saturday, December 9th.
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About ServisFirst Bancshares
ServisFirst Bancshares, Inc is a bank holding company whose business is conducted by its subsidiary, ServisFirst Bank (the Bank). The Company’s principal business is to accept deposits from the public and to make loans and other investments. The Company, through its bank, originates commercial, consumer and other loans; accept deposits; provides electronic banking services, such as online and mobile banking, including remote deposit capture, deliver treasury and cash management services, and provides correspondent banking services to other financial institutions.
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