BidaskClub upgraded shares of ServisFirst Bancshares (NASDAQ:SFBS) from a strong sell rating to a sell rating in a report released on Tuesday morning.
Several other analysts have also issued reports on the stock. Zacks Investment Research lowered shares of ServisFirst Bancshares from a hold rating to a sell rating in a research report on Thursday, September 20th. ValuEngine lowered shares of ServisFirst Bancshares from a hold rating to a sell rating in a research report on Tuesday, October 2nd. Stephens reissued a hold rating and issued a $43.00 price target on shares of ServisFirst Bancshares in a research report on Monday, July 23rd. Finally, Hovde Group raised shares of ServisFirst Bancshares from a market perform rating to an outperform rating in a research report on Friday, October 19th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. ServisFirst Bancshares has an average rating of Hold and an average target price of $44.75.
Shares of NASDAQ SFBS traded up $0.15 during midday trading on Tuesday, hitting $36.66. The company’s stock had a trading volume of 6,692 shares, compared to its average volume of 214,940. ServisFirst Bancshares has a one year low of $34.15 and a one year high of $44.95. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.09. The firm has a market cap of $1.96 billion, a P/E ratio of 20.60 and a beta of 1.24.
ServisFirst Bancshares (NASDAQ:SFBS) last posted its quarterly earnings results on Wednesday, October 17th. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.03. ServisFirst Bancshares had a net margin of 37.00% and a return on equity of 19.45%. The company had revenue of $72.45 million for the quarter, compared to analyst estimates of $73.07 million. Equities analysts expect that ServisFirst Bancshares will post 2.53 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, October 12th. Stockholders of record on Monday, October 1st were given a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.20%. The ex-dividend date was Friday, September 28th. ServisFirst Bancshares’s dividend payout ratio (DPR) is currently 24.72%.
In related news, Director J. Richard Cashio sold 43,079 shares of the business’s stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $43.64, for a total transaction of $1,879,967.56. Following the completion of the transaction, the director now owns 522,194 shares of the company’s stock, valued at $22,788,546.16. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP W Bibb Lamar, Jr. sold 4,498 shares of the business’s stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $41.00, for a total transaction of $184,418.00. Following the transaction, the executive vice president now directly owns 54,465 shares of the company’s stock, valued at approximately $2,233,065. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 73,079 shares of company stock valued at $3,167,671. 13.62% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of SFBS. BlackRock Inc. grew its stake in ServisFirst Bancshares by 8.9% during the second quarter. BlackRock Inc. now owns 6,377,257 shares of the financial services provider’s stock valued at $266,123,000 after acquiring an additional 520,212 shares in the last quarter. Peregrine Capital Management LLC grew its stake in ServisFirst Bancshares by 24.3% in the 3rd quarter. Peregrine Capital Management LLC now owns 513,747 shares of the financial services provider’s stock worth $20,113,000 after buying an additional 100,458 shares in the last quarter. Davis Capital Partners LLC grew its stake in ServisFirst Bancshares by 9.7% in the 2nd quarter. Davis Capital Partners LLC now owns 680,000 shares of the financial services provider’s stock worth $28,376,000 after buying an additional 60,000 shares in the last quarter. California Public Employees Retirement System grew its stake in ServisFirst Bancshares by 139.0% in the 1st quarter. California Public Employees Retirement System now owns 58,495 shares of the financial services provider’s stock worth $2,388,000 after buying an additional 34,021 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in ServisFirst Bancshares by 66.8% in the 1st quarter. JPMorgan Chase & Co. now owns 74,443 shares of the financial services provider’s stock worth $3,038,000 after buying an additional 29,800 shares in the last quarter. 45.52% of the stock is owned by institutional investors.
About ServisFirst Bancshares
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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