Wallace Advisory Group LLC Invests $250,000 in ServisFirst Bancshares, Inc. (NYSE:SFBS)

Wallace Advisory Group LLC bought a new stake in shares of ServisFirst Bancshares, Inc. (NYSE:SFBS) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 3,964 shares of the financial services provider’s stock, valued at approximately $250,000.

Several other institutional investors and hedge funds also recently made changes to their positions in SFBS. Quest Partners LLC boosted its position in ServisFirst Bancshares by 4,880.0% during the second quarter. Quest Partners LLC now owns 996 shares of the financial services provider’s stock valued at $63,000 after buying an additional 976 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in ServisFirst Bancshares during the 2nd quarter valued at about $84,000. Scarborough Advisors LLC bought a new position in ServisFirst Bancshares during the 4th quarter worth approximately $102,000. CIBC Asset Management Inc increased its stake in ServisFirst Bancshares by 8.7% in the 2nd quarter. CIBC Asset Management Inc now owns 3,328 shares of the financial services provider’s stock worth $210,000 after purchasing an additional 267 shares during the period. Finally, Bayesian Capital Management LP purchased a new position in ServisFirst Bancshares in the 1st quarter worth approximately $217,000. Institutional investors own 67.31% of the company’s stock.

Insider Activity at ServisFirst Bancshares

In other ServisFirst Bancshares news, COO Rodney Eldon Rushing sold 12,000 shares of ServisFirst Bancshares 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 sale, the chief operating officer now directly 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 SEC, which is accessible through this hyperlink. 7.40% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

ServisFirst Bancshares Price Performance

Shares of SFBS stock opened at $80.53 on Tuesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.94 and a current ratio of 0.94. ServisFirst Bancshares, Inc. has a fifty-two week low of $45.21 and a fifty-two week high of $86.46. The firm has a market cap of $4.39 billion, a P/E ratio of 22.06 and a beta of 0.87. The business’s 50 day moving average price is $78.37 and its 200-day moving average price is $68.38.

ServisFirst Bancshares (NYSE:SFBS) last announced its quarterly earnings results on Monday, July 15th. The financial services provider reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.04. The company had revenue of $114.77 million during the quarter, compared to analyst estimates of $114.80 million. ServisFirst Bancshares had a return on equity of 14.19% and a net margin of 21.25%. On average, equities research analysts anticipate that ServisFirst Bancshares, Inc. will post 3.82 earnings per share for the current year.

ServisFirst Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 8th. Investors of record on Tuesday, October 1st will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend is Tuesday, October 1st. ServisFirst Bancshares’s dividend payout ratio is currently 32.88%.

ServisFirst Bancshares Company Profile

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.