Hsbc Holdings PLC Takes $718,000 Position in ServisFirst Bancshares, Inc. $SFBS

Hsbc Holdings PLC purchased a new position in ServisFirst Bancshares, Inc. (NYSE:SFBS) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 10,000 shares of the financial services provider’s stock, valued at approximately $718,000.

Several other institutional investors also recently modified their holdings of the business. Royal Bank of Canada boosted its stake in ServisFirst Bancshares by 17.2% during the first 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 increased its stake in shares of ServisFirst Bancshares by 70.9% during the first quarter. AQR Capital Management LLC now owns 8,989 shares of the financial services provider’s stock valued at $742,000 after purchasing an additional 3,730 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of ServisFirst Bancshares by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,194 shares of the financial services provider’s stock valued at $2,494,000 after purchasing an additional 1,308 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of ServisFirst Bancshares by 107.3% during the first quarter. Millennium Management LLC now owns 146,442 shares of the financial services provider’s stock valued at $12,096,000 after purchasing an additional 75,799 shares during the last quarter. Finally, Caxton Associates LLP purchased a new position in shares of ServisFirst Bancshares during the first quarter valued at approximately $204,000. 67.31% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on SFBS shares. Piper Sandler upped their price target on ServisFirst Bancshares from $89.00 to $91.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 21st. Zacks Research cut ServisFirst Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 23rd. Finally, Weiss Ratings raised ServisFirst Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $94.33.

ServisFirst Bancshares Stock Up 0.8%

Shares of ServisFirst Bancshares stock opened at $86.11 on Thursday. The company has a 50-day simple moving average of $80.98 and a two-hundred day simple moving average of $79.36. The stock has a market capitalization of $4.71 billion, a PE ratio of 15.89 and a beta of 0.86. ServisFirst Bancshares, Inc. has a 52-week low of $67.20 and a 52-week high of $90.64. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.98 and a current ratio of 0.98.

ServisFirst Bancshares (NYSE:SFBS) last posted its quarterly earnings results on Monday, April 20th. The financial services provider reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.53 by $0.01. ServisFirst Bancshares had a net margin of 28.80% and a return on equity of 16.95%. The firm had revenue of $158.99 million for the quarter, compared to analysts’ expectations of $162.07 million. On average, analysts anticipate that ServisFirst Bancshares, Inc. will post 6.4 EPS for the current fiscal year.

ServisFirst Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Wednesday, July 1st were issued a $0.38 dividend. The ex-dividend date of this dividend was Wednesday, July 1st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.8%. ServisFirst Bancshares’s dividend payout ratio (DPR) is presently 28.04%.

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.