ServisFirst Bancshares, Inc. (NASDAQ:SFBS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Thursday. The brokerage currently has a $38.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 11.21% from the company’s previous close.

According to Zacks, “ServisFirst Bancshares Inc. is a bank holding company. Through its subsidiary, ServisFirst Bank, it provides business and personal financial services. It offers various deposit products; commercial lending products; commercial real estate loans, construction and development loans, and residential real estate loans; and consumer loans. ServisFirst Bancshares, Inc. is headquartered in Birmingham, Alabama. “

A number of other equities research analysts have also recently weighed in on SFBS. Stephens reaffirmed a “hold” rating and set a $38.00 price target on shares of ServisFirst Bancshares in a report on Wednesday, July 19th. BidaskClub cut ServisFirst Bancshares from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 28th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $37.67.

ServisFirst Bancshares (NASDAQ:SFBS) opened at 34.17 on Thursday. The stock’s 50 day moving average is $35.60 and its 200-day moving average is $37.15. The stock has a market capitalization of $1.81 billion, a price-to-earnings ratio of 20.71 and a beta of 1.38. ServisFirst Bancshares has a 12 month low of $24.69 and a 12 month high of $42.66.

ServisFirst Bancshares (NASDAQ:SFBS) last released its quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.45 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.02. ServisFirst Bancshares had a return on equity of 16.67% and a net margin of 35.15%. The firm had revenue of $60.37 million during the quarter, compared to analysts’ expectations of $60.33 million. On average, equities research analysts expect that ServisFirst Bancshares will post $1.80 earnings per share for the current year.

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In related news, EVP Rex D. Mckinney sold 75,000 shares of the firm’s stock in a transaction on Monday, August 21st. The stock was sold at an average price of $33.55, for a total transaction of $2,516,250.00. Following the completion of the sale, the executive vice president now directly owns 105,340 shares of the company’s stock, valued at approximately $3,534,157. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 14.04% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can boosted 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 in the last quarter. LS Investment Advisors LLC boosted its stake 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. Riverhead Capital Management LLC boosted its stake in ServisFirst Bancshares by 135.2% in the second quarter. Riverhead Capital Management LLC now owns 3,763 shares of the financial services provider’s stock valued at $139,000 after buying an additional 2,163 shares during the period. Ameritas Investment Partners Inc. purchased a new stake in ServisFirst Bancshares during the first quarter valued at approximately $145,000. Finally, Flinton Capital Management LLC boosted its stake in ServisFirst Bancshares by 124.2% in the second quarter. Flinton Capital Management LLC now owns 4,144 shares of the financial services provider’s stock valued at $153,000 after buying an additional 2,296 shares during the period. 42.55% of the stock is owned by hedge funds and other institutional investors.

ServisFirst Bancshares Company Profile

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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