Algert Global LLC Has $1.05 Million Stock Position in ServisFirst Bancshares, Inc. (NYSE:SFBS)

Algert Global LLC reduced its stake in shares of ServisFirst Bancshares, Inc. (NYSE:SFBS) by 53.6% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 13,097 shares of the financial services provider’s stock after selling 15,100 shares during the quarter. Algert Global LLC’s holdings in ServisFirst Bancshares were worth $1,054,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of SFBS. Quest Partners LLC lifted its holdings in shares of ServisFirst Bancshares by 4,880.0% during the 2nd quarter. Quest Partners LLC now owns 996 shares of the financial services provider’s stock valued at $63,000 after purchasing an additional 976 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of ServisFirst Bancshares by 138.6% during the 3rd 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 during the 2nd quarter valued at about $84,000. LMR Partners LLP bought a new position in shares of ServisFirst Bancshares during the 3rd quarter valued at about $203,000. Finally, CIBC Asset Management Inc lifted its holdings in shares of ServisFirst Bancshares by 8.7% during the 2nd quarter. CIBC Asset Management Inc now owns 3,328 shares of the financial services provider’s stock valued at $210,000 after purchasing an additional 267 shares in the last quarter. 67.31% of the stock is currently owned by institutional investors and hedge funds.

ServisFirst Bancshares Trading Down 0.2 %

NYSE SFBS opened at $97.08 on Friday. The stock has a market capitalization of $5.30 billion, a price-to-earnings ratio of 25.96 and a beta of 0.86. The stock’s 50 day moving average price is $86.84 and its two-hundred day moving average price is $76.03. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.95 and a current ratio of 0.95. ServisFirst Bancshares, Inc. has a 52 week low of $50.36 and a 52 week high of $101.37.

ServisFirst Bancshares (NYSE:SFBS) last announced its quarterly earnings data on Monday, October 21st. The financial services provider reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.13. ServisFirst Bancshares had a return on equity of 14.23% and a net margin of 21.16%. The company had revenue of $256.53 million for the quarter, compared to analysts’ expectations of $120.70 million. During the same quarter in the prior year, the business posted $0.98 EPS. As a group, analysts anticipate that ServisFirst Bancshares, Inc. will post 4.09 earnings per share for the current fiscal year.

ServisFirst Bancshares Dividend Announcement

The business also recently disclosed 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. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date was Tuesday, October 1st. ServisFirst Bancshares’s dividend payout ratio is currently 32.09%.

Insider Transactions at ServisFirst Bancshares

In other news, SVP Henry Fulbrook Abbott sold 1,000 shares of the company’s stock in a transaction that occurred 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 sale, the senior vice president now owns 8,501 shares in the company, valued at $724,285.20. This represents a 10.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, COO Rodney Eldon Rushing sold 12,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $80.58, for a total value of $966,960.00. Following the sale, the chief operating officer now owns 307,837 shares in the company, valued at approximately $24,805,505.46. This represents a 3.75 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 7.40% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on SFBS shares. StockNews.com cut ServisFirst Bancshares from a “hold” rating to a “sell” rating in a report on Sunday, November 24th. Piper Sandler boosted their target price on 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 boosted their target price 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.

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.