HighTower Advisors LLC Has $4.28 Million Position in ServisFirst Bancshares, Inc. (NYSE:SFBS)

HighTower Advisors LLC trimmed its position in ServisFirst Bancshares, Inc. (NYSE:SFBS) by 24.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 53,190 shares of the financial services provider’s stock after selling 17,504 shares during the quarter. HighTower Advisors LLC owned approximately 0.10% of ServisFirst Bancshares worth $4,279,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. GAMMA Investing LLC raised its stake in 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 buying an additional 535 shares during the period. Quest Partners LLC raised its stake 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 during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in ServisFirst Bancshares during the second quarter worth $84,000. LMR Partners LLP bought a new position in ServisFirst Bancshares during the third quarter worth $203,000. Finally, Verition Fund Management LLC bought a new position in shares of ServisFirst Bancshares in the third quarter valued at about $208,000. 67.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at ServisFirst Bancshares

In related news, SVP Henry Fulbrook Abbott sold 1,000 shares of the stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $85.20, for a total transaction of $85,200.00. Following the sale, the senior vice president now owns 8,501 shares in the company, valued at approximately $724,285.20. This trade represents a 10.53 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 transaction of $966,960.00. Following the transaction, the chief operating officer now owns 307,837 shares of the company’s stock, valued at approximately $24,805,505.46. This represents a 3.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.40% of the stock is currently owned by insiders.

ServisFirst Bancshares Trading Up 0.2 %

SFBS stock opened at $94.61 on Wednesday. ServisFirst Bancshares, Inc. has a 52 week low of $55.83 and a 52 week high of $101.37. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.95 and a current ratio of 0.95. The company’s 50-day simple moving average is $89.18 and its 200 day simple moving average is $77.88. The company has a market capitalization of $5.16 billion, a PE ratio of 25.30 and a beta of 0.88.

ServisFirst Bancshares (NYSE:SFBS) last announced its earnings results on Monday, October 21st. The financial services provider reported $1.10 EPS for the quarter, topping the consensus estimate of $0.97 by $0.13. The company had revenue of $256.53 million for the quarter, compared to analysts’ expectations 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 last year, the firm earned $0.98 earnings per share. As a group, sell-side analysts anticipate that ServisFirst Bancshares, Inc. will post 4.09 earnings per share for the current year.

ServisFirst Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Tuesday, October 1st were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend was Tuesday, October 1st. ServisFirst Bancshares’s dividend payout ratio (DPR) is currently 32.09%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Piper Sandler raised their target price on shares of ServisFirst Bancshares from $76.00 to $79.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. StockNews.com cut ServisFirst Bancshares from a “hold” rating to a “sell” rating in a report on Sunday, November 24th. Finally, Hovde Group upped their target price on ServisFirst Bancshares from $80.00 to $91.00 and gave the company a “market perform” rating in a research report on Tuesday, October 22nd.

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.