Zacks Investment Research Downgrades ServisFirst Bancshares (NASDAQ:SFBS) to Hold

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, March 14th.

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. “

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SFBS has been the subject of several other reports. Hovde Group set a $44.00 price objective on ServisFirst Bancshares and gave the company a “hold” rating in a research note on Tuesday, January 23rd. BidaskClub lowered ServisFirst Bancshares from a “buy” rating to a “hold” rating in a research note on Saturday, December 9th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $44.25.

NASDAQ SFBS traded down $1.26 on Wednesday, reaching $40.56. The company had a trading volume of 131,890 shares, compared to its average volume of 153,276. The company has a market capitalization of $2,155.20, a PE ratio of 22.66 and a beta of 1.30. 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 has a 52 week low of $32.54 and a 52 week high of $44.44.

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). The business had revenue of $66.31 million during the quarter, compared to analyst estimates 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 earnings per share for the current fiscal year.

In related news, Director Michael D. Fuller sold 20,000 shares of the firm’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $42.23, for a total transaction of $844,600.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP G. Carlton Barker sold 10,000 shares of the firm’s stock in a transaction on Wednesday, March 7th. The shares were sold at an average price of $43.25, for a total value of $432,500.00. Following the sale, the executive vice president now directly owns 116,462 shares in the company, valued at approximately $5,036,981.50. The disclosure for this sale can be found here. Company insiders own 14.04% of the company’s stock.

A number of large investors have recently made changes to their positions in SFBS. Crossmark Global Holdings Inc. bought a new position in ServisFirst Bancshares during the 3rd quarter worth $459,000. Victory Capital Management Inc. raised its position in ServisFirst Bancshares by 30.0% during the 3rd quarter. Victory Capital Management Inc. now owns 5,496 shares of the financial services provider’s stock worth $214,000 after purchasing an additional 1,267 shares during the last quarter. Principal Financial Group Inc. raised its position in ServisFirst Bancshares by 0.6% during the 3rd quarter. Principal Financial Group Inc. now owns 374,117 shares of the financial services provider’s stock worth $14,535,000 after purchasing an additional 2,051 shares during the last quarter. Alps Advisors Inc. raised its position in shares of ServisFirst Bancshares by 13.6% in the 3rd quarter. Alps Advisors Inc. now owns 13,563 shares of the financial services provider’s stock worth $527,000 after acquiring an additional 1,621 shares in the last quarter. Finally, BNP Paribas Arbitrage SA raised its position in shares of 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 acquiring an additional 10,558 shares in the last quarter. 44.44% of the stock is owned by institutional investors and hedge funds.

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ServisFirst Bancshares Company Profile

ServisFirst Bancshares, Inc operates as the bank holding company for ServisFirst Bank that provides banking services to individual and corporate customers in the United States. It offers demand, time, savings, and other deposits; checking, money market, and IRA accounts; and various certificates of deposit.

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