Raymond James Trust N.A. Acquires 263 Shares of ServisFirst Bancshares, Inc. (NYSE:SFBS)

Raymond James Trust N.A. raised its holdings in ServisFirst Bancshares, Inc. (NYSE:SFBS) by 5.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,853 shares of the financial services provider’s stock after buying an additional 263 shares during the period. Raymond James Trust N.A.’s holdings in ServisFirst Bancshares were worth $390,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Quest Partners LLC lifted its position in ServisFirst Bancshares by 4,880.0% in the 2nd quarter. Quest Partners LLC now owns 996 shares of the financial services provider’s stock valued at $63,000 after acquiring an additional 976 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of ServisFirst Bancshares by 138.6% in the third quarter. GAMMA Investing LLC now owns 921 shares of the financial services provider’s stock valued at $74,000 after purchasing an additional 535 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of ServisFirst Bancshares in the second quarter valued at approximately $84,000. LMR Partners LLP purchased a new position in shares of ServisFirst Bancshares during the third quarter valued at approximately $203,000. Finally, CIBC Asset Management Inc grew its holdings in ServisFirst Bancshares by 8.7% during the second quarter. CIBC Asset Management Inc now owns 3,328 shares of the financial services provider’s stock worth $210,000 after buying an additional 267 shares in the last quarter. 67.31% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SFBS has been the topic of several recent analyst reports. Hovde Group raised their price objective 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 raised their price target on shares of ServisFirst Bancshares from $76.00 to $79.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Finally, StockNews.com downgraded shares of ServisFirst Bancshares from a “hold” rating to a “sell” rating in a research report on Sunday.

Insider Buying and Selling at ServisFirst Bancshares

In related news, SVP Henry Fulbrook Abbott sold 1,000 shares of the business’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $85.20, for a total value of $85,200.00. Following the sale, the senior vice president now directly owns 8,501 shares in the company, valued at approximately $724,285.20. The trade was a 10.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Rodney Eldon Rushing sold 12,000 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were 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 in the company, valued at approximately $24,805,505.46. This trade represents a 3.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 7.40% of the company’s stock.

ServisFirst Bancshares Stock Performance

Shares of ServisFirst Bancshares stock opened at $97.24 on Wednesday. The business’s fifty day simple moving average is $86.03 and its 200 day simple moving average is $75.50. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.04. ServisFirst Bancshares, Inc. has a 12 month low of $49.72 and a 12 month high of $101.37. The firm has a market capitalization of $5.30 billion, a P/E ratio of 26.00 and a beta of 0.86.

ServisFirst Bancshares (NYSE:SFBS) last announced its earnings results on Monday, October 21st. The financial services provider reported $1.10 earnings per share (EPS) 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 analyst estimates of $120.70 million. ServisFirst Bancshares had a return on equity of 14.23% and a net margin of 21.16%. During the same period last year, the firm posted $0.98 EPS. As a group, analysts anticipate that ServisFirst Bancshares, Inc. will post 4.09 EPS for the current year.

ServisFirst Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Tuesday, October 1st were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend was Tuesday, October 1st. ServisFirst Bancshares’s dividend payout ratio is 32.09%.

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.