ServisFirst Bancshares, Inc. to Issue Quarterly Dividend of $0.30 (NYSE:SFBS)

ServisFirst Bancshares, Inc. (NYSE:SFBS) declared a quarterly dividend on Monday, September 16th, Zacks reports. Stockholders of record on Tuesday, October 1st will be given a dividend of 0.30 per share by the financial services provider on Tuesday, October 8th. This represents a $1.20 annualized dividend and a dividend yield of 1.52%. The ex-dividend date of this dividend is Tuesday, October 1st.

ServisFirst Bancshares has raised its dividend by an average of 16.3% annually over the last three years. ServisFirst Bancshares has a dividend payout ratio of 26.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect ServisFirst Bancshares to earn $4.55 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 26.4%.

ServisFirst Bancshares Price Performance

Shares of NYSE SFBS opened at $79.09 on Friday. The company has a fifty day moving average price of $78.37 and a 200 day moving average price of $68.31. ServisFirst Bancshares has a 1-year low of $45.21 and a 1-year high of $86.46. The firm has a market cap of $4.31 billion, a PE ratio of 21.67 and a beta of 0.87. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.04.

ServisFirst Bancshares (NYSE:SFBS) last posted its quarterly earnings data on Monday, July 15th. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.04. ServisFirst Bancshares had a return on equity of 14.19% and a net margin of 21.25%. The business had revenue of $114.77 million during the quarter, compared to the consensus estimate of $114.80 million. Research analysts predict that ServisFirst Bancshares will post 3.82 earnings per share for the current fiscal year.

Insider Activity at ServisFirst Bancshares

In other ServisFirst Bancshares news, COO Rodney Eldon Rushing sold 12,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $80.58, for a total transaction of $966,960.00. Following the transaction, the chief operating officer now owns 307,837 shares of the company’s stock, valued at approximately $24,805,505.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 7.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SFBS. Hovde Group raised their price target on shares of ServisFirst Bancshares from $68.00 to $76.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 16th. Piper Sandler lifted their price target on shares of ServisFirst Bancshares from $63.00 to $70.00 and gave the company a “neutral” rating in a research note on Tuesday, July 16th.

About ServisFirst Bancshares

ServisFirst Bancshares, Inc operates as the bank holding company for ServisFirst Bank that provides various banking services to individual and corporate customers. It accepts demand, time, savings, and other deposits; checking, money market, and IRA accounts; and certificates of deposit. The company's loan products include commercial lending products, including seasonal, bridge, and term loans for working capital, expansion of the business, acquisition of property, and plant and equipment, as well as commercial lines of credit; commercial real estate loans, construction and development loans, and residential real estate loans; and consumer loans, such as home equity loans, vehicle financing, loans secured by deposits, and secured and unsecured personal loans.