Zacks Investment Research downgraded shares of ServisFirst Bancshares (NASDAQ:SFBS) from a buy rating to a hold rating in a research report released on Wednesday.
According to Zacks, “ServisFirst Bancshares Inc. is a bank holding company. Through its subsidiary, ServisFirst Bank, it provides business and personal financial services. It offers various deposit products; commercial lending products; commercial real estate loans, construction and development loans, and residential real estate loans; and consumer loans. ServisFirst Bancshares, Inc. is headquartered in Birmingham, Alabama. “
Several other research firms also recently weighed in on SFBS. BidaskClub upgraded ServisFirst Bancshares from a hold rating to a buy rating in a research note on Thursday, March 8th. Hovde Group set a $44.00 price target on ServisFirst Bancshares and gave the stock a hold rating in a research note on Tuesday, January 23rd.
ServisFirst Bancshares (NASDAQ:SFBS) opened at $44.29 on Wednesday. The firm has a market cap of $2,315.46, a P/E ratio of 25.60 and a beta of 1.34. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.11. ServisFirst Bancshares has a twelve month low of $32.54 and a twelve month high of $44.44.
ServisFirst Bancshares (NASDAQ:SFBS) last announced its quarterly earnings data on Monday, January 22nd. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.03). The company had revenue of $66.31 million for the quarter, compared to the consensus estimate of $65.86 million. ServisFirst Bancshares had a net margin of 33.03% and a return on equity of 16.69%. equities analysts predict that ServisFirst Bancshares will post 2.49 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 13th. Shareholders of record on Monday, April 2nd will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.99%. This is an increase from ServisFirst Bancshares’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Thursday, March 29th. ServisFirst Bancshares’s dividend payout ratio is presently 11.56%.
In other ServisFirst Bancshares news, Director Michael D. Fuller sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $42.23, for a total value of $844,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP G. Carlton Barker sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 7th. The stock was sold at an average price of $43.25, for a total value of $432,500.00. Following the completion of the transaction, the executive vice president now owns 116,462 shares of the company’s stock, valued at $5,036,981.50. The disclosure for this sale can be found here. Corporate insiders own 14.04% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC bought a new position in ServisFirst Bancshares in the 3rd quarter worth approximately $146,000. Elkfork Partners LLC bought a new position in ServisFirst Bancshares in the 4th quarter worth approximately $202,000. Welch Investments LLC purchased a new stake in shares of ServisFirst Bancshares during the 3rd quarter worth approximately $202,000. Leucadia National Corp purchased a new stake in shares of ServisFirst Bancshares during the 4th quarter worth approximately $225,000. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new stake in shares of ServisFirst Bancshares during the 3rd quarter worth approximately $212,000. Institutional investors and hedge funds own 44.44% of the company’s stock.
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ServisFirst Bancshares Company Profile
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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