ServisFirst Bancshares Inc. (SFBS) Lowered to Underperform at Hovde Group
Hovde Group downgraded shares of ServisFirst Bancshares Inc. (NASDAQ:SFBS) from a market perform rating to an underperform rating in a research report report published on Friday morning. Hovde Group currently has $63.00 price target on the financial services provider’s stock, up from their prior price target of $55.50.
Separately, Raymond James Financial Inc. raised shares of ServisFirst Bancshares from an outperform rating to a strong-buy rating and set a $43.00 target price for the company in a research note on Thursday, August 25th.
Shares of ServisFirst Bancshares (NASDAQ:SFBS) traded down 0.03% during mid-day trading on Friday, hitting $67.18. The stock had a trading volume of 22,011 shares. ServisFirst Bancshares has a 52 week low of $34.12 and a 52 week high of $67.50. The stock has a market cap of $1.77 billion, a P/E ratio of 22.63 and a beta of 1.16. The stock has a 50-day moving average price of $54.85 and a 200 day moving average price of $51.67.
ServisFirst Bancshares (NASDAQ:SFBS) last posted its quarterly earnings data on Monday, October 17th. The financial services provider reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.06. ServisFirst Bancshares had a net margin of 34.91% and a return on equity of 16.10%. On average, equities analysts forecast that ServisFirst Bancshares will post $2.84 EPS for the current fiscal year.
In related news, EVP Andrew N. Kattos sold 7,676 shares of ServisFirst Bancshares stock in a transaction on Monday, October 24th. The shares were sold at an average price of $53.60, for a total value of $411,433.60. Following the completion of the sale, the executive vice president now owns 116,000 shares of the company’s stock, valued at approximately $6,217,600. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Andrew N. Kattos sold 11,741 shares of ServisFirst Bancshares stock in a transaction on Friday, September 23rd. The shares were sold at an average price of $52.39, for a total transaction of $615,110.99. Following the completion of the sale, the executive vice president now directly owns 128,259 shares of the company’s stock, valued at approximately $6,719,489.01. The disclosure for this sale can be found here. 14.28% of the stock is currently owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in the stock. Swiss National Bank raised its stake in ServisFirst Bancshares by 2.8% in the second quarter. Swiss National Bank now owns 36,534 shares of the financial services provider’s stock valued at $1,804,000 after buying an additional 1,000 shares during the last quarter. California State Teachers Retirement System raised its stake in ServisFirst Bancshares by 2.0% in the second quarter. California State Teachers Retirement System now owns 48,320 shares of the financial services provider’s stock valued at $2,387,000 after buying an additional 940 shares during the last quarter. Bank of New York Mellon Corp raised its stake in 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. Huntington National Bank acquired a new stake in ServisFirst Bancshares during the second quarter valued at about $120,000. Finally, Louisiana State Employees Retirement System acquired a new stake in ServisFirst Bancshares during the second quarter valued at about $474,000. 34.46% of the stock is owned by institutional investors and hedge funds.
ServisFirst Bancshares Company Profile
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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