Wells Fargo & Company MN cut its position in ServisFirst Bancshares, Inc. (NASDAQ:SFBS) by 30.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 66,177 shares of the financial services provider’s stock after selling 29,423 shares during the quarter. Wells Fargo & Company MN owned 0.12% of ServisFirst Bancshares worth $2,570,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. The Manufacturers Life Insurance Company boosted its holdings in ServisFirst Bancshares by 0.4% in the second quarter. The Manufacturers Life Insurance Company now owns 36,174 shares of the financial services provider’s stock valued at $1,334,000 after purchasing an additional 150 shares during the period. Macquarie Group Ltd. lifted its holdings in ServisFirst Bancshares by 0.8% during the 2nd quarter. Macquarie Group Ltd. now owns 38,998 shares of the financial services provider’s stock worth $1,439,000 after buying an additional 296 shares during the last quarter. Amalgamated Bank lifted its holdings in ServisFirst Bancshares by 5.1% during the 2nd quarter. Amalgamated Bank now owns 6,382 shares of the financial services provider’s stock worth $235,000 after buying an additional 309 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in 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 buying an additional 633 shares during the last quarter. Finally, Stifel Financial Corp lifted its holdings in shares of ServisFirst Bancshares by 0.6% in the 2nd quarter. Stifel Financial Corp now owns 125,632 shares of the financial services provider’s stock valued at $4,630,000 after purchasing an additional 716 shares during the last quarter. 43.15% of the stock is owned by institutional investors and hedge funds.
Several analysts have recently weighed in on the company. Zacks Investment Research raised ServisFirst Bancshares from a “sell” rating to a “hold” rating in a report on Thursday, January 4th. Hovde Group set a $44.00 price target on ServisFirst Bancshares and gave the company a “hold” rating in a research report on Tuesday, January 23rd. Finally, BidaskClub cut ServisFirst Bancshares from a “buy” rating to a “hold” rating in a research report on Saturday, December 9th.
ServisFirst Bancshares, Inc. (NASDAQ SFBS) traded down $2.44 on Monday, hitting $40.19. The company had a trading volume of 250,114 shares, compared to its average volume of 162,151. ServisFirst Bancshares, Inc. has a 1-year low of $32.54 and a 1-year high of $44.00. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.11. The firm has a market cap of $2,259.07, a PE ratio of 24.35 and a beta of 1.31.
ServisFirst Bancshares (NASDAQ:SFBS) last posted its earnings results on Monday, January 22nd. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.03). ServisFirst Bancshares had a net margin of 33.03% and a return on equity of 16.69%. The company had revenue of $66.31 million during the quarter, compared to analysts’ expectations of $65.86 million. equities analysts expect that ServisFirst Bancshares, Inc. will post 2.46 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, January 12th. Shareholders of record on Tuesday, January 2nd were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date of this dividend was Friday, December 29th. ServisFirst Bancshares’s dividend payout ratio is presently 11.56%.
In other news, EVP G. Carlton Barker sold 10,000 shares of the company’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $42.25, for a total transaction of $422,500.00. Following the completion of the sale, the executive vice president now directly owns 126,462 shares in the company, valued at approximately $5,343,019.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 14.04% of the company’s stock.
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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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