ServisFirst Bancshares (NASDAQ:SFBS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors 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 have also commented on SFBS. BidaskClub raised ServisFirst Bancshares from a “hold” rating to a “buy” rating in a report on Thursday, March 8th. Hovde Group set a $44.00 target price on ServisFirst Bancshares and gave the company a “hold” rating in a report on Tuesday, January 23rd.
SFBS stock opened at $43.68 on Wednesday. The company has a market capitalization of $2,341.47, a P/E ratio of 25.25 and a beta of 1.34. ServisFirst Bancshares has a fifty-two week low of $32.54 and a fifty-two week high of $44.44. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.11.
ServisFirst Bancshares (NASDAQ:SFBS) last posted its earnings results on Monday, January 22nd. The financial services provider reported $0.45 EPS for the quarter, missing the Thomson Reuters’ 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%. sell-side analysts predict that ServisFirst Bancshares will post 2.49 EPS for the current fiscal year.
In other news, 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 transaction of $432,500.00. Following the completion of the transaction, the executive vice president now directly owns 116,462 shares of the company’s stock, valued at $5,036,981.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael D. Fuller sold 20,000 shares of the 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 disclosure for this sale can be found here. 14.04% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of SFBS. Victory Capital Management Inc. grew its holdings in ServisFirst Bancshares by 30.0% in the 3rd quarter. Victory Capital Management Inc. now owns 5,496 shares of the financial services provider’s stock worth $214,000 after buying an additional 1,267 shares in the last quarter. Principal Financial Group Inc. grew its holdings in ServisFirst Bancshares by 0.6% in the 3rd quarter. Principal Financial Group Inc. now owns 374,117 shares of the financial services provider’s stock worth $14,535,000 after buying an additional 2,051 shares in the last quarter. BNP Paribas Arbitrage SA grew its holdings in ServisFirst Bancshares by 74.0% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 24,833 shares of the financial services provider’s stock worth $965,000 after buying an additional 10,558 shares in the last quarter. Municipal Employees Retirement System of Michigan grew its holdings in ServisFirst Bancshares by 61.9% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 16,930 shares of the financial services provider’s stock worth $658,000 after buying an additional 6,470 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new position in ServisFirst Bancshares in the 3rd quarter worth approximately $212,000. 44.44% of the stock is owned by institutional investors and hedge funds.
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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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