ServisFirst Bancshares Inc. (SFBS) Announces Quarterly Earnings Results
ServisFirst Bancshares Inc. (NASDAQ:SFBS) released its quarterly earnings data on Monday. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.07. ServisFirst Bancshares had a net margin of 34.23% and a return on equity of 15.77%.
Shares of ServisFirst Bancshares (NASDAQ:SFBS) traded down 2.19% on Monday, hitting $51.80. 53,642 shares of the stock traded hands. ServisFirst Bancshares has a 12-month low of $34.12 and a 12-month high of $53.58. The stock has a market cap of $1.36 billion, a price-to-earnings ratio of 18.44 and a beta of 1.20. The stock has a 50-day moving average price of $51.98 and a 200 day moving average price of $50.13.
The company also recently announced a quarterly dividend, which was paid on Friday, October 14th. Stockholders of record on Tuesday, October 4th were paid a $0.08 dividend. The ex-dividend date was Friday, September 30th. This represents a $0.32 annualized dividend and a dividend yield of 0.60%. ServisFirst Bancshares’s dividend payout ratio (DPR) is presently 11.76%.
Several equities research analysts have issued reports on the stock. Raymond James Financial Inc. upgraded shares of ServisFirst Bancshares from an “outperform” rating to a “strong-buy” rating and set a $43.00 price objective for the company in a research note on Thursday, August 25th. Zacks Investment Research downgraded shares of ServisFirst Bancshares from a “buy” rating to a “hold” rating in a research note on Wednesday, June 22nd.
In other news, EVP Andrew N. Kattos sold 4,259 shares of the stock in a transaction that occurred on Wednesday, October 5th. The shares were sold at an average price of $52.46, for a total value of $223,427.14. Following the completion of the sale, the executive vice president now directly owns 127,597 shares of the company’s stock, valued at $6,693,738.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Rex D. Mckinney sold 48,000 shares of the stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $50.32, for a total transaction of $2,415,360.00. Following the completion of the sale, the executive vice president now directly owns 28,000 shares of the company’s stock, valued at $1,408,960. The disclosure for this sale can be found here. 14.28% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of SFBS. BlackRock Advisors LLC raised its stake in ServisFirst Bancshares by 5.7% in the second quarter. BlackRock Advisors LLC now owns 10,722 shares of the financial services provider’s stock worth $530,000 after buying an additional 574 shares during the period. Banc Funds Co. LLC raised its stake in ServisFirst Bancshares by 0.8% in the second quarter. Banc Funds Co. LLC now owns 121,600 shares of the financial services provider’s stock worth $6,006,000 after buying an additional 1,000 shares during the period. Lord Abbett & CO. LLC raised its stake in ServisFirst Bancshares by 2.5% in the second quarter. Lord Abbett & CO. LLC now owns 59,966 shares of the financial services provider’s stock worth $2,961,000 after buying an additional 1,475 shares during the period. US Bancorp DE acquired a new position in shares of ServisFirst Bancshares during the second quarter valued at $132,000. Finally, Teachers Advisors Inc. raised its position in shares of ServisFirst Bancshares by 8.0% in the second quarter. Teachers Advisors Inc. now owns 36,823 shares of the financial services provider’s stock valued at $1,819,000 after buying an additional 2,743 shares during the last quarter. 33.94% of the stock is owned by institutional investors and hedge funds.
About ServisFirst Bancshares
ServisFirst Bancshares, Inc is a bank holding company. The Company, through its subsidiary, ServisFirst Bank (the Bank), operates approximately 18 banking offices. Through its bank, the Company originates commercial, consumer and other loans and accepts deposits, provides electronic banking services, such as online and mobile banking, including remote deposit capture, delivers treasury and cash management services, and provides correspondent banking services to other financial institutions.
Receive News & Stock Ratings for ServisFirst Bancshares Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ServisFirst Bancshares Inc. and related stocks with our FREE daily email newsletter.