EverSource Wealth Advisors LLC Reduces Stock Position in ServisFirst Bancshares, Inc. $SFBS

EverSource Wealth Advisors LLC lessened its stake in shares of ServisFirst Bancshares, Inc. (NYSE:SFBS) by 67.8% in the fourth quarter, HoldingsChannel reports. The firm owned 10,280 shares of the financial services provider’s stock after selling 21,622 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in ServisFirst Bancshares were worth $738,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its position in ServisFirst Bancshares by 17.2% during the 1st quarter. Royal Bank of Canada now owns 16,815 shares of the financial services provider’s stock worth $1,390,000 after acquiring an additional 2,465 shares in the last quarter. AQR Capital Management LLC lifted its position in ServisFirst Bancshares by 70.9% during the 1st quarter. AQR Capital Management LLC now owns 8,989 shares of the financial services provider’s stock worth $742,000 after acquiring an additional 3,730 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in ServisFirst Bancshares by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,194 shares of the financial services provider’s stock worth $2,494,000 after acquiring an additional 1,308 shares in the last quarter. Millennium Management LLC lifted its position in ServisFirst Bancshares by 107.3% during the 1st quarter. Millennium Management LLC now owns 146,442 shares of the financial services provider’s stock worth $12,096,000 after acquiring an additional 75,799 shares in the last quarter. Finally, Caxton Associates LLP acquired a new position in ServisFirst Bancshares during the 1st quarter worth approximately $204,000. Hedge funds and other institutional investors own 67.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of ServisFirst Bancshares in a research report on Friday, April 10th. Wall Street Zen raised ServisFirst Bancshares from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Piper Sandler boosted their price target on ServisFirst Bancshares from $89.00 to $91.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 21st. Zacks Research lowered ServisFirst Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 23rd. Finally, Hovde Group lifted 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. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $94.33.

ServisFirst Bancshares Price Performance

Shares of NYSE SFBS opened at $77.46 on Tuesday. ServisFirst Bancshares, Inc. has a twelve month low of $67.20 and a twelve month high of $90.64. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $4.23 billion, a price-to-earnings ratio of 14.29 and a beta of 0.90. The business has a 50 day simple moving average of $76.24 and a 200-day simple moving average of $76.66.

ServisFirst Bancshares (NYSE:SFBS) last issued its quarterly earnings results on Monday, April 20th. The financial services provider reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.53 by $0.01. ServisFirst Bancshares had a return on equity of 16.95% and a net margin of 28.80%.The business had revenue of $158.99 million during the quarter, compared to the consensus estimate of $162.07 million. As a group, equities research analysts expect that ServisFirst Bancshares, Inc. will post 6.4 earnings per share for the current year.

ServisFirst Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 13th. Investors of record on Wednesday, April 1st were given a dividend of $0.38 per share. The ex-dividend date was Wednesday, April 1st. This represents a $1.52 dividend on an annualized basis and a yield of 2.0%. ServisFirst Bancshares’s payout ratio is currently 28.04%.

ServisFirst Bancshares 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.