Credit Suisse AG cut its position in ServisFirst Bancshares, Inc. (NASDAQ:SFBS) by 35.5% during the first quarter, Holdings Channel reports. The fund owned 43,784 shares of the financial services provider’s stock after selling 24,104 shares during the period. Credit Suisse AG’s holdings in ServisFirst Bancshares were worth $1,593,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in SFBS. Bank of Montreal Can increased its stake in ServisFirst Bancshares by 256.0% in the first quarter. Bank of Montreal Can now owns 3,204 shares of the financial services provider’s stock worth $117,000 after buying an additional 2,304 shares during the last quarter. LS Investment Advisors LLC increased its position in ServisFirst Bancshares by 121.6% in the first quarter. LS Investment Advisors LLC now owns 3,700 shares of the financial services provider’s stock valued at $135,000 after buying an additional 2,030 shares during the period. Ameritas Investment Partners Inc. purchased a new position in ServisFirst Bancshares during the first quarter valued at $145,000. State of Alaska Department of Revenue increased its position in ServisFirst Bancshares by 2.3% in the first quarter. State of Alaska Department of Revenue now owns 4,890 shares of the financial services provider’s stock valued at $177,000 after buying an additional 110 shares during the period. Finally, OMERS ADMINISTRATION Corp purchased a new position in ServisFirst Bancshares during the first quarter valued at $269,000. Institutional investors and hedge funds own 43.45% of the company’s stock.

ServisFirst Bancshares, Inc. (SFBS) traded up 2.11% on Monday, hitting $34.81. 13,329 shares of the stock traded hands. ServisFirst Bancshares, Inc. has a 12-month low of $24.69 and a 12-month high of $42.66. The company’s 50 day moving average price is $36.37 and its 200-day moving average price is $37.52. The stock has a market capitalization of $1.84 billion, a P/E ratio of 21.10 and a beta of 1.38.

ServisFirst Bancshares (NASDAQ:SFBS) last announced its quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.02. The business had revenue of $60.37 million for the quarter, compared to the consensus estimate of $60.33 million. ServisFirst Bancshares had a net margin of 35.15% and a return on equity of 16.67%. Analysts predict that ServisFirst Bancshares, Inc. will post $1.80 EPS for the current year.

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Several research analysts have recently weighed in on the stock. Stephens reissued a “hold” rating and issued a $38.00 target price on shares of ServisFirst Bancshares in a research report on Wednesday, July 19th. Zacks Investment Research downgraded shares of ServisFirst Bancshares from a “buy” rating to a “hold” rating in a research report on Thursday, July 20th. Hovde Group raised shares of ServisFirst Bancshares from an “underperform” rating to a “market perform” rating and set a $37.00 target price on the stock in a research report on Tuesday, April 18th. Finally, BidaskClub downgraded shares of ServisFirst Bancshares from a “sell” rating to a “strong sell” rating in a research report on Wednesday, June 28th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $49.75.

About ServisFirst Bancshares

ServisFirst Bancshares, Inc is a bank holding company whose business is conducted by its subsidiary, ServisFirst Bank (the Bank). The Company’s principal business is to accept deposits from the public and to make loans and other investments. The Company, through its bank, originates commercial, consumer and other loans; accept deposits; provides electronic banking services, such as online and mobile banking, including remote deposit capture, deliver treasury and cash management services, and provides correspondent banking services to other financial institutions.

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Institutional Ownership by Quarter for ServisFirst Bancshares (NASDAQ:SFBS)

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