Point72 Asia Singapore Pte. Ltd. Makes New Investment in ServisFirst Bancshares, Inc. (NYSE:SFBS)

Point72 Asia Singapore Pte. Ltd. bought a new stake in ServisFirst Bancshares, Inc. (NYSE:SFBS) during the second quarter, Holdings Channel reports. The institutional investor bought 1,330 shares of the financial services provider’s stock, valued at approximately $84,000.

Several other institutional investors have also made changes to their positions in SFBS. Vanguard Group Inc. increased its position 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 purchasing an additional 47,885 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in ServisFirst Bancshares by 35.7% in the first quarter. BNP Paribas Financial Markets now owns 26,492 shares of the financial services provider’s stock worth $1,758,000 after buying an additional 6,964 shares during the last quarter. Rafferty Asset Management LLC raised its position 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. Cetera Investment Advisers acquired a new stake in ServisFirst Bancshares in the first quarter valued at approximately $2,125,000. Finally, Dimensional Fund Advisors LP grew its position in ServisFirst Bancshares by 3.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,230,925 shares of the financial services provider’s stock worth $77,775,000 after acquiring an additional 36,302 shares in the last quarter. 67.31% of the stock is currently owned by institutional investors and hedge funds.

ServisFirst Bancshares Stock Up 2.3 %

SFBS opened at $79.74 on Friday. ServisFirst Bancshares, Inc. has a fifty-two week low of $45.21 and a fifty-two week high of $86.46. The company has a market capitalization of $4.35 billion, a P/E ratio of 21.85 and a beta of 0.87. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.94 and a quick ratio of 0.94. The firm’s fifty day moving average price is $78.28 and its two-hundred day moving average price is $68.88.

ServisFirst Bancshares (NYSE:SFBS) last announced its quarterly earnings results on Monday, July 15th. The financial services provider reported $0.95 earnings per share for the quarter, beating 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 firm had revenue of $114.77 million for the quarter, compared to analysts’ expectations of $114.80 million. On average, analysts anticipate that ServisFirst Bancshares, Inc. will post 3.86 EPS for the current year.

ServisFirst Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Tuesday, October 1st will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend is Tuesday, October 1st. ServisFirst Bancshares’s dividend payout ratio (DPR) is currently 32.88%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other news, COO Rodney Eldon Rushing sold 12,000 shares of the stock in a transaction 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 owns 307,837 shares in the company, valued at approximately $24,805,505.46. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 7.40% of the stock is owned by corporate insiders.

ServisFirst Bancshares 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.