Wedge Capital Management L L P NC Cuts Holdings in ServisFirst Bancshares, Inc. (NYSE:SFBS)

Wedge Capital Management L L P NC reduced its position in ServisFirst Bancshares, Inc. (NYSE:SFBS) by 20.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 17,320 shares of the financial services provider’s stock after selling 4,478 shares during the quarter. Wedge Capital Management L L P NC’s holdings in ServisFirst Bancshares were worth $1,393,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in SFBS. Quest Partners LLC raised its position in shares of ServisFirst Bancshares by 4,880.0% in the 2nd quarter. Quest Partners LLC now owns 996 shares of the financial services provider’s stock worth $63,000 after buying an additional 976 shares during the period. GAMMA Investing LLC raised 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 buying an additional 535 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of ServisFirst Bancshares in the 2nd quarter worth $84,000. CIBC Asset Management Inc raised its position 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 worth $210,000 after buying an additional 267 shares during the period. Finally, Bayesian Capital Management LP purchased a new position in ServisFirst Bancshares in the first quarter valued at about $217,000. 67.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Piper Sandler raised their price objective on ServisFirst Bancshares from $63.00 to $70.00 and gave the company a “neutral” rating in a research report on Tuesday, July 16th. Hovde Group raised their price objective on ServisFirst Bancshares from $68.00 to $76.00 and gave the company a “market perform” rating in a research report on Tuesday, July 16th.

Insider Activity

In other news, COO Rodney Eldon Rushing sold 12,000 shares of the firm’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 directly owns 307,837 shares in the company, valued at $24,805,505.46. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 7.40% of the company’s stock.

ServisFirst Bancshares Trading Up 3.1 %

NYSE:SFBS opened at $87.70 on Thursday. The business’s 50-day moving average is $79.05 and its two-hundred day moving average is $69.85. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.94 and a quick ratio of 0.94. ServisFirst Bancshares, Inc. has a 12 month low of $45.21 and a 12 month high of $87.83. The firm has a market capitalization of $4.78 billion, a PE ratio of 24.23 and a beta of 0.86.

ServisFirst Bancshares (NYSE:SFBS) last announced its earnings results on Monday, July 15th. The financial services provider reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.04. The company had revenue of $114.77 million during the quarter, compared to the consensus estimate of $114.80 million. ServisFirst Bancshares had a return on equity of 14.19% and a net margin of 21.25%. Research analysts predict that ServisFirst Bancshares, Inc. will post 3.88 earnings per share for the current fiscal year.

ServisFirst Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Tuesday, October 1st were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $1.20 annualized dividend and a dividend yield of 1.37%. ServisFirst Bancshares’s dividend payout ratio is presently 33.15%.

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.