Louisiana State Employees Retirement System Has $1.96 Million Stake in ServisFirst Bancshares, Inc. (NYSE:SFBS)

Louisiana State Employees Retirement System cut its stake in shares of ServisFirst Bancshares, Inc. (NYSE:SFBS) by 1.6% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 24,300 shares of the financial services provider’s stock after selling 400 shares during the quarter. Louisiana State Employees Retirement System’s holdings in ServisFirst Bancshares were worth $1,955,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Quest Partners LLC lifted its stake in shares of ServisFirst Bancshares by 4,880.0% in the second quarter. Quest Partners LLC now owns 996 shares of the financial services provider’s stock worth $63,000 after acquiring an additional 976 shares during the period. GAMMA Investing LLC lifted its position in shares of 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 period. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of ServisFirst Bancshares in the 2nd quarter worth approximately $84,000. CIBC Asset Management Inc boosted its stake in shares of 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 purchasing an additional 267 shares during the last quarter. Finally, Bayesian Capital Management LP acquired a new stake in shares of ServisFirst Bancshares during the first quarter worth $217,000. Institutional investors own 67.31% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at ServisFirst Bancshares

In other news, SVP Henry Fulbrook Abbott sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $85.20, for a total transaction of $85,200.00. Following the transaction, the senior vice president now directly owns 8,501 shares of the company’s stock, valued at $724,285.20. 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 available through this link. In other news, SVP Henry Fulbrook Abbott sold 1,000 shares of the business’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $85.20, for a total transaction of $85,200.00. Following the completion of the sale, the senior vice president now directly owns 8,501 shares of the company’s stock, valued at $724,285.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Rodney Eldon Rushing sold 12,000 shares of the company’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $80.58, for a total transaction of $966,960.00. Following the completion of the sale, the chief operating officer now owns 307,837 shares in the company, valued at $24,805,505.46. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 7.40% of the company’s stock.

ServisFirst Bancshares Stock Performance

NYSE:SFBS opened at $84.66 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.04. ServisFirst Bancshares, Inc. has a twelve month low of $46.02 and a twelve month high of $88.86. The company has a fifty day moving average of $80.64 and a 200-day moving average of $71.13. The firm has a market capitalization of $4.61 billion, a P/E ratio of 23.43 and a beta of 0.86.

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 the consensus estimate of $0.97 by $0.13. The firm had revenue of $256.53 million during the quarter, compared to the consensus estimate of $120.70 million. ServisFirst Bancshares had a net margin of 21.16% and a return on equity of 14.23%. During the same period in the previous year, the firm posted $0.98 earnings per share. As a group, sell-side analysts anticipate that ServisFirst Bancshares, Inc. will post 4.09 EPS for the current year.

ServisFirst Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Tuesday, October 1st were issued a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $1.20 annualized dividend and a yield of 1.42%. ServisFirst Bancshares’s payout ratio is currently 32.88%.

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.