ServisFirst Bancshares, Inc. (NASDAQ:SFBS) announced a quarterly dividend on Monday, September 16th, Zacks reports. Shareholders of record on Tuesday, October 1st will be paid a dividend of 0.15 per share by the financial services provider on Friday, October 11th. This represents a $0.60 annualized dividend and a yield of 1.78%. The ex-dividend date is Monday, September 30th.
ServisFirst Bancshares has raised its dividend payment by an average of 48.9% annually over the last three years and has raised its dividend every year for the last 4 years. ServisFirst Bancshares has a dividend payout ratio of 24.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect ServisFirst Bancshares to earn $2.63 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 22.8%.
Shares of SFBS traded down $0.10 during mid-day trading on Wednesday, reaching $33.74. The company’s stock had a trading volume of 683 shares, compared to its average volume of 100,697. ServisFirst Bancshares has a 12-month low of $29.17 and a 12-month high of $41.33. The stock has a market cap of $1.83 billion, a PE ratio of 13.33 and a beta of 1.33. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.99 and a quick ratio of 0.99. The company’s 50 day moving average is $31.27 and its 200 day moving average is $32.98.
ServisFirst Bancshares (NASDAQ:SFBS) last released its quarterly earnings data on Monday, July 15th. The financial services provider reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.03). ServisFirst Bancshares had a net margin of 36.49% and a return on equity of 19.37%. The business had revenue of $75.86 million during the quarter, compared to analysts’ expectations of $77.30 million. As a group, sell-side analysts anticipate that ServisFirst Bancshares will post 2.62 EPS for the current fiscal year.
In related news, CEO Buford Harrison Morris III sold 15,000 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $33.94, for a total value of $509,100.00. Following the completion of the sale, the chief executive officer now directly owns 115,362 shares of the company’s stock, valued at approximately $3,915,386.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Andrew N. Kattos bought 834 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The stock was purchased at an average cost of $30.75 per share, with a total value of $25,645.50. Following the completion of the transaction, the executive vice president now owns 121,834 shares in the company, valued at $3,746,395.50. The disclosure for this purchase can be found here. In the last quarter, insiders bought 4,334 shares of company stock worth $129,001. Company insiders own 13.56% of the company’s stock.
A number of research analysts have recently commented on SFBS shares. BidaskClub upgraded ServisFirst Bancshares from a “sell” rating to a “hold” rating in a report on Thursday, September 12th. Zacks Investment Research upgraded ServisFirst Bancshares from a “sell” rating to a “hold” rating in a report on Tuesday.
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 certificates of deposit. The company also provides commercial lending products, such as seasonal loans, bridge loans, and term loans for working capital, expansion of the business, or acquisition of property, plant, and equipment, as well as commercial lines of credit; commercial real estate loans, construction and development loans, and residential real estate loans; and consumer loans, such as home equity loans, vehicle financing, loans secured by deposits, and secured and unsecured personal loans.
Further Reading: Neutral Rating
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