Victory Capital Management Inc. Has $80.25 Million Stake in ServisFirst Bancshares, Inc. $SFBS

Victory Capital Management Inc. reduced its position in shares of ServisFirst Bancshares, Inc. (NYSE:SFBS) by 6.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 996,465 shares of the financial services provider’s stock after selling 66,671 shares during the period. Victory Capital Management Inc.’s holdings in ServisFirst Bancshares were worth $80,245,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Champlain Investment Partners LLC lifted its stake in ServisFirst Bancshares by 5.1% in the 3rd quarter. Champlain Investment Partners LLC now owns 2,696,260 shares of the financial services provider’s stock worth $217,130,000 after acquiring an additional 129,732 shares in the last quarter. Welch Group LLC increased its stake in ServisFirst Bancshares by 1.0% in the 3rd quarter. Welch Group LLC now owns 983,776 shares of the financial services provider’s stock valued at $79,223,000 after buying an additional 9,618 shares during the period. JPMorgan Chase & Co. lifted its position in ServisFirst Bancshares by 26.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 962,164 shares of the financial services provider’s stock worth $77,483,000 after buying an additional 199,772 shares in the last quarter. Norges Bank purchased a new stake in ServisFirst Bancshares in the 2nd quarter worth approximately $47,309,000. Finally, Deprince Race & Zollo Inc. boosted its stake in shares of ServisFirst Bancshares by 10.5% during the 3rd quarter. Deprince Race & Zollo Inc. now owns 514,203 shares of the financial services provider’s stock valued at $41,409,000 after buying an additional 48,993 shares during the period. Hedge funds and other institutional investors own 67.31% of the company’s stock.

Analysts Set New Price Targets

SFBS has been the subject of several recent research reports. Hovde Group increased their price objective on ServisFirst Bancshares from $92.00 to $97.00 and gave the stock an “outperform” rating in a report on Friday, February 27th. Piper Sandler upgraded ServisFirst Bancshares from a “neutral” rating to an “overweight” rating and set a $89.00 price target for the company in a report on Wednesday, January 21st. Zacks Research upgraded ServisFirst Bancshares from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 22nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ServisFirst Bancshares in a research report on Monday, December 29th. Finally, Raymond James Financial upgraded shares of ServisFirst Bancshares from an “outperform” rating to a “strong-buy” rating and set a $95.00 price target on the stock in a report on Wednesday, January 21st. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $93.67.

ServisFirst Bancshares Price Performance

NYSE SFBS opened at $79.17 on Friday. ServisFirst Bancshares, Inc. has a 1 year low of $66.48 and a 1 year high of $90.64. The company has a fifty day simple moving average of $80.73 and a 200 day simple moving average of $78.52. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.02. The company has a market cap of $4.32 billion, a P/E ratio of 15.65 and a beta of 0.91.

ServisFirst Bancshares (NYSE:SFBS) last released its earnings results on Tuesday, January 20th. The financial services provider reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.20. The firm had revenue of $162.21 million during the quarter, compared to analyst estimates of $151.82 million. ServisFirst Bancshares had a net margin of 26.95% and a return on equity of 16.36%. On average, sell-side analysts predict that ServisFirst Bancshares, Inc. will post 5.17 EPS for the current year.

ServisFirst Bancshares Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 13th. Shareholders of record on Friday, January 2nd were given a $0.38 dividend. The ex-dividend date of this dividend was Friday, January 2nd. This represents a $1.52 annualized dividend and a yield of 1.9%. This is an increase from ServisFirst Bancshares’s previous quarterly dividend of $0.34. ServisFirst Bancshares’s dividend payout ratio (DPR) is presently 30.04%.

ServisFirst Bancshares Company Profile

ServisFirst Bancshares, Inc is a bank holding company headquartered in Birmingham, Alabama, and the parent of ServisFirst Bank. The company specializes in commercial banking services, catering primarily to small and mid-sized businesses, professionals and entrepreneurs. Its product portfolio encompasses commercial real estate lending, commercial and industrial loans, deposit accounts, treasury management and other ancillary banking products designed to meet the financial needs of its clients.

ServisFirst Bank offers a full suite of deposit products, including interest-bearing checking, money market accounts and certificates of deposit, as well as a variety of loan products.