M&T Bank Corp Acquires 698 Shares of ServisFirst Bancshares, Inc. (NYSE:SFBS)

M&T Bank Corp grew its stake in ServisFirst Bancshares, Inc. (NYSE:SFBS) by 2.1% during the third quarter, HoldingsChannel.com reports. The firm owned 33,313 shares of the financial services provider’s stock after buying an additional 698 shares during the period. M&T Bank Corp’s holdings in ServisFirst Bancshares were worth $2,680,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP boosted its holdings in ServisFirst Bancshares by 3.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,230,925 shares of the financial services provider’s stock worth $77,775,000 after buying an additional 36,302 shares during the last quarter. Mutual of America Capital Management LLC boosted its stake in ServisFirst Bancshares by 42.2% during the 2nd quarter. Mutual of America Capital Management LLC now owns 156,633 shares of the financial services provider’s stock worth $9,898,000 after acquiring an additional 46,469 shares during the last quarter. Savant Capital LLC boosted its stake in ServisFirst Bancshares by 286.8% during the 2nd quarter. Savant Capital LLC now owns 64,066 shares of the financial services provider’s stock worth $4,048,000 after acquiring an additional 47,502 shares during the last quarter. Intech Investment Management LLC acquired a new position in ServisFirst Bancshares during the second quarter valued at approximately $408,000. Finally, HHM Wealth Advisors LLC bought a new stake in ServisFirst Bancshares in the second quarter valued at approximately $4,453,000. 67.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SFBS. StockNews.com lowered shares of ServisFirst Bancshares from a “hold” rating to a “sell” rating in a report on Sunday, November 24th. 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. Finally, Piper Sandler raised their price target on ServisFirst Bancshares from $76.00 to $79.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd.

Insider Buying and Selling at ServisFirst Bancshares

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 value of $966,960.00. Following the completion of the transaction, the chief operating officer now owns 307,837 shares in the company, valued at $24,805,505.46. This trade represents a 3.75 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Henry Fulbrook Abbott sold 1,000 shares of the company’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $85.20, for a total value of $85,200.00. Following the sale, the senior vice president now owns 8,501 shares in the company, valued at $724,285.20. The trade was a 10.53 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 7.40% of the company’s stock.

ServisFirst Bancshares Stock Down 0.7 %

ServisFirst Bancshares stock opened at $93.00 on Friday. ServisFirst Bancshares, Inc. has a twelve month low of $58.05 and a twelve month high of $101.37. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.04. The company has a 50 day moving average of $90.11 and a 200-day moving average of $78.32. The stock has a market capitalization of $5.07 billion, a PE ratio of 24.87 and a beta of 0.88.

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

ServisFirst Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Tuesday, October 1st were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date of this dividend was Tuesday, October 1st. ServisFirst Bancshares’s dividend payout ratio is presently 32.09%.

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.