Raymond James & Associates Acquires 14,859 Shares of ServisFirst Bancshares, Inc. (NYSE:SFBS)

Raymond James & Associates boosted its stake in shares of ServisFirst Bancshares, Inc. (NYSE:SFBS) by 7.4% during the third quarter, Holdings Channel reports. The fund owned 216,992 shares of the financial services provider’s stock after acquiring an additional 14,859 shares during the period. Raymond James & Associates’ holdings in ServisFirst Bancshares were worth $17,457,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SFBS. Quest Partners LLC lifted its position in shares of ServisFirst Bancshares by 4,880.0% during the second quarter. Quest Partners LLC now owns 996 shares of the financial services provider’s stock worth $63,000 after purchasing an additional 976 shares in the last quarter. GAMMA Investing LLC raised its position in ServisFirst Bancshares by 138.6% in the 3rd quarter. GAMMA Investing LLC now owns 921 shares of the financial services provider’s stock worth $74,000 after purchasing an additional 535 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in ServisFirst Bancshares during the 2nd quarter worth $84,000. CIBC Asset Management Inc boosted its position 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 valued at $210,000 after buying an additional 267 shares during the last quarter. Finally, Bayesian Capital Management LP acquired a new stake in shares of ServisFirst Bancshares in the 1st quarter valued at $217,000. Institutional investors and hedge funds own 67.31% of the company’s stock.

Insider Transactions at ServisFirst Bancshares

In other ServisFirst Bancshares news, COO Rodney Eldon Rushing sold 12,000 shares of the company’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 owns 307,837 shares of the company’s stock, 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 the SEC website. Corporate insiders own 7.40% of the company’s stock.

Wall Street Analysts Forecast Growth

SFBS has been the topic of several research reports. Hovde Group upped their price target on ServisFirst Bancshares from $80.00 to $91.00 and gave the company a “market perform” rating in a research note on Tuesday, October 22nd. Piper Sandler boosted their price objective on ServisFirst Bancshares from $76.00 to $79.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd.

ServisFirst Bancshares Trading Down 2.7 %

Shares of NYSE SFBS opened at $82.69 on Friday. ServisFirst Bancshares, Inc. has a fifty-two week low of $46.02 and a fifty-two week high of $88.86. The firm has a market capitalization of $4.51 billion, a P/E ratio of 22.65 and a beta of 0.86. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.95 and a quick ratio of 0.94. The company’s 50 day simple moving average is $80.50 and its 200 day simple moving average is $70.87.

ServisFirst Bancshares (NYSE:SFBS) last posted its quarterly earnings results on Monday, October 21st. The financial services provider reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.13. ServisFirst Bancshares had a return on equity of 14.23% and a net margin of 21.16%. The company had revenue of $256.53 million for the quarter, compared to the consensus estimate of $120.70 million. During the same quarter in the prior year, the business posted $0.98 EPS. On average, analysts predict that ServisFirst Bancshares, Inc. will post 4.09 EPS for the current year.

ServisFirst Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Tuesday, October 1st were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date was Tuesday, October 1st. ServisFirst Bancshares’s dividend payout ratio (DPR) is currently 32.88%.

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.