Welch Investments LLC Buys New Position in ServisFirst Bancshares, Inc. (SFBS)
Welch Investments LLC bought a new stake in shares of ServisFirst Bancshares, Inc. (NASDAQ:SFBS) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 5,200 shares of the financial services provider’s stock, valued at approximately $202,000.
Several other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. boosted its position in shares of ServisFirst Bancshares by 146,046.5% during the first quarter. BlackRock Inc. now owns 5,451,265 shares of the financial services provider’s stock valued at $198,318,000 after purchasing an additional 5,447,535 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of ServisFirst Bancshares by 35.1% during the first quarter. Vanguard Group Inc. now owns 3,975,898 shares of the financial services provider’s stock valued at $144,643,000 after purchasing an additional 1,033,129 shares in the last quarter. State Street Corp boosted its position in shares of ServisFirst Bancshares by 22.7% during the first quarter. State Street Corp now owns 1,430,993 shares of the financial services provider’s stock valued at $52,056,000 after purchasing an additional 264,493 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of ServisFirst Bancshares by 17.5% during the first quarter. Dimensional Fund Advisors LP now owns 940,852 shares of the financial services provider’s stock valued at $34,228,000 after purchasing an additional 140,253 shares in the last quarter. Finally, Westwood Holdings Group Inc. boosted its position in shares of ServisFirst Bancshares by 43.4% during the second quarter. Westwood Holdings Group Inc. now owns 326,609 shares of the financial services provider’s stock valued at $12,049,000 after purchasing an additional 98,776 shares in the last quarter. 42.54% of the stock is currently owned by hedge funds and other institutional investors.
In other ServisFirst Bancshares news, CFO William M. Foshee sold 18,000 shares of the business’s stock in a transaction on Wednesday, October 25th. The stock was sold at an average price of $40.70, for a total value of $732,600.00. Following the sale, the chief financial officer now directly owns 289,502 shares of the company’s stock, valued at $11,782,731.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James J. Filler bought 3,546 shares of the company’s stock in a transaction on Friday, September 8th. The stock was bought at an average cost of $32.79 per share, for a total transaction of $116,273.34. Following the completion of the acquisition, the director now directly owns 1,313,152 shares of the company’s stock, valued at approximately $43,058,254.08. The disclosure for this purchase can be found here. Insiders have sold 129,750 shares of company stock worth $4,720,215 over the last 90 days. 14.04% of the stock is currently owned by corporate insiders.
ServisFirst Bancshares, Inc. (NASDAQ SFBS) traded up $0.08 during midday trading on Thursday, hitting $39.79. The company had a trading volume of 64,200 shares, compared to its average volume of 159,587. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.09. ServisFirst Bancshares, Inc. has a one year low of $30.91 and a one year high of $42.66. The company has a market capitalization of $2,103.81, a price-to-earnings ratio of 22.82 and a beta of 1.44.
ServisFirst Bancshares (NASDAQ:SFBS) last released its quarterly earnings results on Monday, October 16th. The financial services provider reported $0.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.02. ServisFirst Bancshares had a return on equity of 16.84% and a net margin of 35.08%. The company had revenue of $63.19 million for the quarter, compared to analyst estimates of $64.08 million. research analysts predict that ServisFirst Bancshares, Inc. will post 1.8 EPS for the current year.
Several equities research analysts recently weighed in on the company. Zacks Investment Research lowered ServisFirst Bancshares from a “hold” rating to a “sell” rating in a research report on Saturday, October 21st. Stephens restated a “hold” rating and set a $38.00 price target on shares of ServisFirst Bancshares in a research report on Wednesday, July 19th.
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ServisFirst Bancshares 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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