Algert Global LLC Raises Stock Position in ServisFirst Bancshares, Inc. (NYSE:SFBS)

Algert Global LLC boosted its position in shares of ServisFirst Bancshares, Inc. (NYSE:SFBS) by 8.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,197 shares of the financial services provider’s stock after acquiring an additional 2,167 shares during the period. Algert Global LLC owned 0.05% of ServisFirst Bancshares worth $1,782,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of SFBS. Rafferty Asset Management LLC grew its stake in ServisFirst Bancshares by 58.2% during the fourth quarter. Rafferty Asset Management LLC now owns 48,470 shares of the financial services provider’s stock valued at $3,230,000 after acquiring an additional 17,834 shares in the last quarter. Wasatch Advisors LP grew its stake in ServisFirst Bancshares by 5.1% in the 4th quarter. Wasatch Advisors LP now owns 837,189 shares of the financial services provider’s stock worth $55,782,000 after buying an additional 40,866 shares in the last quarter. Bragg Financial Advisors Inc grew its stake in ServisFirst Bancshares by 0.3% in the 4th quarter. Bragg Financial Advisors Inc now owns 408,341 shares of the financial services provider’s stock worth $27,208,000 after buying an additional 1,387 shares in the last quarter. Scarborough Advisors LLC purchased a new position in ServisFirst Bancshares in the 4th quarter worth approximately $102,000. Finally, Vanguard Group Inc. grew its stake in ServisFirst Bancshares by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 5,478,138 shares of the financial services provider’s stock worth $365,008,000 after buying an additional 47,885 shares in the last quarter. Hedge funds and other institutional investors own 67.31% of the company’s stock.

Insider Transactions at ServisFirst Bancshares

In other news, COO Rodney Eldon Rushing sold 12,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $80.58, for a total value of $966,960.00. Following the completion of the sale, the chief operating officer now directly owns 307,837 shares in the company, valued at approximately $24,805,505.46. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 7.40% of the company’s stock.

ServisFirst Bancshares Trading Up 0.6 %

Shares of SFBS opened at $77.83 on Thursday. The firm has a market cap of $4.24 billion, a price-to-earnings ratio of 21.32 and a beta of 0.87. 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 50 day moving average price of $78.35 and a 200-day moving average price of $68.62.

ServisFirst Bancshares (NYSE:SFBS) last announced its quarterly earnings data on Monday, July 15th. The financial services provider reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.04. The firm had revenue of $114.77 million during the quarter, compared to analyst estimates of $114.80 million. ServisFirst Bancshares had a net margin of 21.25% and a return on equity of 14.19%. As a group, equities research analysts forecast that ServisFirst Bancshares, Inc. will post 3.86 earnings per share for the current year.

ServisFirst Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Tuesday, October 1st will be issued a $0.30 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.54%. ServisFirst Bancshares’s payout ratio is 32.88%.

Analysts Set New Price Targets

A number of equities analysts have commented on SFBS shares. Piper Sandler boosted their price target on shares of ServisFirst Bancshares from $63.00 to $70.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 16th. Hovde Group boosted 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.

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.