ServisFirst Bancshares (NYSE:SFBS) Issues Earnings Results

ServisFirst Bancshares (NYSE:SFBS) issued its quarterly earnings data on Monday. The financial services provider reported $1.57 EPS for the quarter, hitting analysts’ consensus estimates of $1.57, FiscalAI reports. ServisFirst Bancshares had a return on equity of 16.95% and a net margin of 28.80%.

ServisFirst Bancshares Stock Performance

ServisFirst Bancshares stock traded down $1.26 during mid-day trading on Monday, reaching $85.68. 372,430 shares of the company’s stock were exchanged, compared to its average volume of 310,448. The business’s fifty day simple moving average is $81.31 and its 200 day simple moving average is $79.56. The firm has a market capitalization of $4.68 billion, a PE ratio of 15.81 and a beta of 0.86. ServisFirst Bancshares has a one year low of $67.20 and a one year high of $90.64. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.02.

ServisFirst Bancshares Announces Dividend

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

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On ServisFirst Bancshares

Several large investors have recently made changes to their positions in the business. NewEdge Advisors LLC increased its stake in shares of ServisFirst Bancshares by 307,426.8% during the 4th quarter. NewEdge Advisors LLC now owns 919,505 shares of the financial services provider’s stock worth $66,011,000 after purchasing an additional 919,206 shares during the last quarter. Millennium Management LLC lifted its stake in ServisFirst Bancshares by 250.6% in the fourth quarter. Millennium Management LLC now owns 259,618 shares of the financial services provider’s stock valued at $18,638,000 after purchasing an additional 185,568 shares during the last quarter. Wasatch Advisors LP lifted its stake in ServisFirst Bancshares by 31.6% in the third quarter. Wasatch Advisors LP now owns 667,781 shares of the financial services provider’s stock valued at $53,776,000 after purchasing an additional 160,465 shares during the last quarter. Sei Investments Co. increased its position in ServisFirst Bancshares by 135.3% in the second quarter. Sei Investments Co. now owns 218,074 shares of the financial services provider’s stock worth $16,903,000 after buying an additional 125,378 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of ServisFirst Bancshares by 12.2% in the fourth quarter. JPMorgan Chase & Co. now owns 1,079,628 shares of the financial services provider’s stock valued at $77,506,000 after buying an additional 117,464 shares during the period. 67.31% of the stock is owned by hedge funds and other institutional investors.

About ServisFirst Bancshares

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.