ServisFirst Bancshares Inc. (SFBS) Given New $55.50 Price Target at Hovde Group
ServisFirst Bancshares Inc. (NASDAQ:SFBS) had its price target increased by Hovde Group from $55.00 to $55.50 in a research note released on Tuesday. They currently have a market perform rating on the financial services provider’s stock.
A number of other equities research analysts also recently weighed in on the company. Raymond James Financial Inc. raised ServisFirst Bancshares from an outperform rating to a strong-buy rating and set a $43.00 price objective on the stock in a research report on Thursday, August 25th. Zacks Investment Research downgraded ServisFirst Bancshares from a buy rating to a hold rating in a research report on Wednesday, June 22nd.
ServisFirst Bancshares (NASDAQ:SFBS) opened at 51.54 on Tuesday. ServisFirst Bancshares has a 52 week low of $34.12 and a 52 week high of $53.58. The company has a 50-day moving average of $51.95 and a 200-day moving average of $50.32. The company has a market cap of $1.35 billion, a PE ratio of 18.35 and a beta of 1.19.
ServisFirst Bancshares (NASDAQ:SFBS) last announced its quarterly earnings results on Monday, October 17th. The financial services provider reported $0.78 EPS for the quarter, beating the consensus estimate of $0.72 by $0.06. ServisFirst Bancshares had a return on equity of 16.43% and a net margin of 34.91%. On average, equities analysts expect that ServisFirst Bancshares will post $2.79 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, October 14th. Shareholders of record on Tuesday, October 4th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.62%. The ex-dividend date was Friday, September 30th. ServisFirst Bancshares’s dividend payout ratio is presently 11.07%.
In other ServisFirst Bancshares news, EVP Andrew N. Kattos sold 11,741 shares of the firm’s stock in a transaction dated Friday, September 23rd. The stock was sold at an average price of $52.39, for a total value of $615,110.99. Following the completion of the sale, the executive vice president now owns 128,259 shares of the company’s stock, valued at $6,719,489.01. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Andrew N. Kattos sold 4,259 shares of the firm’s stock in a transaction dated Wednesday, October 5th. The stock was 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 approximately $6,693,738.62. The disclosure for this sale can be found here. 14.28% of the stock is owned by company insiders.
Large investors have recently modified their holdings of the company. BlackRock Fund Advisors increased its stake in shares of ServisFirst Bancshares by 147.9% in the second quarter. BlackRock Fund Advisors now owns 1,403,955 shares of the financial services provider’s stock valued at $69,341,000 after buying an additional 837,607 shares in the last quarter. Royal Bank of Canada boosted its position in shares of ServisFirst Bancshares by 569.9% in the second quarter. Royal Bank of Canada now owns 368,850 shares of the financial services provider’s stock valued at $18,217,000 after buying an additional 313,789 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of ServisFirst Bancshares by 28.2% in the second quarter. Vanguard Group Inc. now owns 1,007,306 shares of the financial services provider’s stock valued at $49,751,000 after buying an additional 221,357 shares during the last quarter. Principal Financial Group Inc. purchased a new position in shares of ServisFirst Bancshares during the second quarter valued at about $7,561,000. Finally, Bank of New York Mellon Corp boosted its position in shares of ServisFirst Bancshares by 154.7% in the second quarter. Bank of New York Mellon Corp now owns 242,965 shares of the financial services provider’s stock valued at $11,999,000 after buying an additional 147,586 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.
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