ServisFirst Bancshares, Inc. (NYSE:SFBS) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. cut its holdings in ServisFirst Bancshares, Inc. (NYSE:SFBS) by 0.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,155 shares of the financial services provider’s stock after selling 122 shares during the quarter. PNC Financial Services Group Inc. owned approximately 0.06% of ServisFirst Bancshares worth $2,748,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of SFBS. Cetera Investment Advisers raised its position in shares of ServisFirst Bancshares by 0.6% in the second quarter. Cetera Investment Advisers now owns 32,215 shares of the financial services provider’s stock valued at $2,036,000 after buying an additional 196 shares during the last quarter. Creative Planning grew its stake in ServisFirst Bancshares by 6.5% in the 3rd quarter. Creative Planning now owns 3,383 shares of the financial services provider’s stock worth $272,000 after acquiring an additional 205 shares during the period. Inspire Investing LLC raised its holdings in ServisFirst Bancshares by 3.9% in the 2nd quarter. Inspire Investing LLC now owns 5,553 shares of the financial services provider’s stock valued at $351,000 after acquiring an additional 206 shares during the last quarter. Texas Permanent School Fund Corp lifted its stake in shares of ServisFirst Bancshares by 0.6% during the 2nd quarter. Texas Permanent School Fund Corp now owns 43,131 shares of the financial services provider’s stock worth $2,725,000 after purchasing an additional 254 shares during the period. Finally, CIBC Asset Management Inc boosted its holdings in shares of 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 purchasing an additional 267 shares during the last quarter. 67.31% of the stock is currently owned by institutional investors and hedge funds.

ServisFirst Bancshares Stock Up 2.6 %

Shares of NYSE SFBS opened at $99.11 on Tuesday. The stock has a fifty day moving average price of $85.65 and a 200 day moving average price of $75.26. 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 company has a market cap of $5.41 billion, a P/E ratio of 26.50 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 EPS for the quarter, beating the consensus estimate of $0.97 by $0.13. The business had revenue of $256.53 million for the quarter, compared to the consensus estimate 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 business posted $0.98 EPS. Research analysts anticipate that ServisFirst Bancshares, Inc. will post 4.09 EPS for the current fiscal year.

ServisFirst Bancshares Announces Dividend

The company 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. The ex-dividend date was Tuesday, October 1st. This represents a $1.20 dividend on an annualized basis and a yield of 1.21%. ServisFirst Bancshares’s payout ratio is currently 32.09%.

Insider Activity

In other news, COO Rodney Eldon Rushing sold 12,000 shares of the stock in a transaction that occurred on 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 transaction, the chief operating officer now directly owns 307,837 shares in the company, valued at approximately $24,805,505.46. This represents a 3.75 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Henry Fulbrook Abbott sold 1,000 shares of the firm’s stock in a transaction 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 approximately $724,285.20. This represents a 10.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 7.40% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on SFBS shares. StockNews.com downgraded shares of ServisFirst Bancshares from a “hold” rating to a “sell” rating in a report on Sunday. Piper Sandler boosted their price objective on shares of ServisFirst Bancshares from $76.00 to $79.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Finally, Hovde Group increased their target price on ServisFirst Bancshares from $80.00 to $91.00 and gave the stock 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.