ServisFirst Bancshares, Inc. (NYSE:SFBS) SVP Sells $85,200.00 in Stock

ServisFirst Bancshares, Inc. (NYSE:SFBS) SVP Henry Fulbrook Abbott sold 1,000 shares of the business’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 value of $85,200.00. Following the transaction, the senior vice president now directly owns 8,501 shares in the company, valued at $724,285.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

ServisFirst Bancshares Price Performance

ServisFirst Bancshares stock traded up $3.41 during trading hours on Monday, reaching $86.10. 58,259 shares of the stock were exchanged, compared to its average volume of 198,239. The company has a market cap of $4.69 billion, a P/E ratio of 22.57 and a beta of 0.86. 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 twelve month low of $46.02 and a twelve month high of $88.86. The stock has a 50 day moving average of $80.50 and a two-hundred day moving average of $70.95.

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. The firm had revenue of $256.53 million for the quarter, compared to the consensus estimate 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 in the prior year, the company posted $0.98 earnings per share. Equities analysts expect that ServisFirst Bancshares, Inc. will post 4.09 EPS for the current fiscal year.

ServisFirst Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Tuesday, October 1st were paid a $0.30 dividend. The ex-dividend date was Tuesday, October 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.39%. ServisFirst Bancshares’s payout ratio is currently 32.09%.

Institutional Investors Weigh In On ServisFirst Bancshares

A number of hedge funds have recently made changes to their positions in SFBS. Diversified Trust Co boosted its stake in shares of ServisFirst Bancshares by 52.0% in the 1st quarter. Diversified Trust Co now owns 12,234 shares of the financial services provider’s stock valued at $812,000 after purchasing an additional 4,187 shares in the last quarter. Norden Group LLC boosted its position in ServisFirst Bancshares by 2,663.4% during the 1st quarter. Norden Group LLC now owns 266,665 shares of the financial services provider’s stock worth $17,696,000 after buying an additional 257,015 shares during the period. Precision Wealth Strategies LLC boosted its position in ServisFirst Bancshares by 2.5% during the 1st quarter. Precision Wealth Strategies LLC now owns 7,868 shares of the financial services provider’s stock worth $522,000 after buying an additional 191 shares during the period. BNP Paribas Financial Markets boosted its position in ServisFirst Bancshares by 35.7% during the 1st quarter. BNP Paribas Financial Markets now owns 26,492 shares of the financial services provider’s stock worth $1,758,000 after buying an additional 6,964 shares during the period. Finally, Janney Montgomery Scott LLC acquired a new stake in ServisFirst Bancshares during the 1st quarter worth approximately $271,000. 67.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SFBS. Piper Sandler upped their price target 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. Hovde Group raised their price target on shares of ServisFirst Bancshares from $80.00 to $91.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 22nd.

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.