Cibc World Markets Corp Buys New Shares in ServisFirst Bancshares, Inc. (NYSE:SFBS)

Cibc World Markets Corp bought a new stake in ServisFirst Bancshares, Inc. (NYSE:SFBS) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 4,748 shares of the financial services provider’s stock, valued at approximately $402,000.

Other hedge funds have also made changes to their positions in the company. Geode Capital Management LLC boosted its holdings in ServisFirst Bancshares by 2.1% during the third quarter. Geode Capital Management LLC now owns 1,157,350 shares of the financial services provider’s stock valued at $93,126,000 after purchasing an additional 23,555 shares in the last quarter. Verition Fund Management LLC acquired a new stake in ServisFirst Bancshares during the third quarter valued at approximately $208,000. GAMMA Investing LLC boosted its holdings in ServisFirst Bancshares by 411.5% during the fourth quarter. GAMMA Investing LLC now owns 4,711 shares of the financial services provider’s stock valued at $399,000 after purchasing an additional 3,790 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in ServisFirst Bancshares by 169.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,189 shares of the financial services provider’s stock valued at $102,000 after purchasing an additional 747 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in ServisFirst Bancshares by 8.6% during the fourth quarter. Bank of New York Mellon Corp now owns 464,406 shares of the financial services provider’s stock valued at $39,354,000 after purchasing an additional 36,711 shares in the last quarter. Institutional investors own 67.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Piper Sandler lifted their target price on shares of ServisFirst Bancshares from $95.00 to $96.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. StockNews.com upgraded shares of ServisFirst Bancshares from a “sell” rating to a “hold” rating in a research note on Sunday, January 5th.

Insider Buying and Selling

In related news, Director Christopher J. Mettler sold 18,000 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $88.68, for a total value of $1,596,240.00. Following the completion of the transaction, the director now owns 17,436 shares in the company, valued at $1,546,224.48. The trade was a 50.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 7.40% of the stock is currently owned by corporate insiders.

ServisFirst Bancshares Stock Performance

NYSE:SFBS opened at $81.76 on Monday. ServisFirst Bancshares, Inc. has a 1 year low of $58.11 and a 1 year high of $101.37. The firm has a 50 day moving average of $87.76 and a 200-day moving average of $87.03. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $4.46 billion, a P/E ratio of 19.65 and a beta of 0.91.

ServisFirst Bancshares (NYSE:SFBS) last posted its quarterly earnings data on Monday, January 27th. The financial services provider reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.08. ServisFirst Bancshares had a net margin of 23.16% and a return on equity of 14.81%. During the same period in the previous year, the firm posted $0.91 earnings per share. As a group, sell-side analysts anticipate that ServisFirst Bancshares, Inc. will post 5.17 EPS for the current fiscal year.

ServisFirst Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Tuesday, April 1st will be given a $0.335 dividend. This represents a $1.34 annualized dividend and a yield of 1.64%. The ex-dividend date of this dividend is Tuesday, April 1st. ServisFirst Bancshares’s dividend payout ratio (DPR) is presently 32.21%.

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.