Hovde Group Raises ServisFirst Bancshares Inc. (SFBS) Price Target to $55.50
ServisFirst Bancshares Inc. (NASDAQ:SFBS) had its price target lifted by equities researchers at Hovde Group from $55.00 to $55.50 in a report issued on Tuesday. The firm presently has a “market perform” rating on the financial services provider’s stock. Hovde Group’s price target points to a potential upside of 7.14% from the stock’s current price.
Several other brokerages also recently commented on SFBS. Raymond James Financial Inc. raised shares of ServisFirst Bancshares from an “outperform” rating to a “strong-buy” rating and set a $43.00 target price on the stock in a research note on Thursday, August 25th. Zacks Investment Research downgraded shares of ServisFirst Bancshares from a “buy” rating to a “hold” rating in a research report on Wednesday, June 22nd.
Shares of ServisFirst Bancshares (NASDAQ:SFBS) opened at 51.80 on Tuesday. The stock has a 50 day moving average of $51.97 and a 200 day moving average of $50.28. The stock has a market cap of $1.36 billion, a P/E ratio of 18.44 and a beta of 1.20. ServisFirst Bancshares has a one year low of $34.12 and a one year high of $53.58.
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ServisFirst Bancshares (NASDAQ:SFBS) last issued its earnings results on Monday, October 17th. The financial services provider reported $0.78 EPS for the quarter, topping the consensus estimate of $0.72 by $0.06. ServisFirst Bancshares had a net margin of 34.23% and a return on equity of 15.77%. On average, analysts forecast that ServisFirst Bancshares will post $2.79 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 14th. Shareholders of record on Tuesday, October 4th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date was Friday, September 30th. ServisFirst Bancshares’s payout ratio is currently 11.76%.
In other ServisFirst Bancshares news, EVP Andrew N. Kattos sold 11,741 shares of the business’s stock in a transaction on Friday, September 23rd. The shares were sold at an average price of $52.39, for a total transaction of $615,110.99. Following the transaction, the executive vice president now directly owns 128,259 shares of the company’s stock, valued at approximately $6,719,489.01. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Andrew N. Kattos sold 4,259 shares of the business’s stock in a transaction on Wednesday, October 5th. The shares were sold at an average price of $52.46, for a total transaction of $223,427.14. Following the transaction, the executive vice president now directly owns 127,597 shares in the company, valued at $6,693,738.62. The disclosure for this sale can be found here. Company insiders own 14.28% of the company’s stock.
Several hedge funds have recently made changes to their positions in SFBS. Huntington National Bank acquired a new stake in shares of ServisFirst Bancshares during the second quarter worth approximately $120,000. Victory Capital Management Inc. boosted its stake in shares of ServisFirst Bancshares by 77.7% in the second quarter. Victory Capital Management Inc. now owns 2,433 shares of the financial services provider’s stock worth $120,000 after buying an additional 1,064 shares during the period. US Bancorp DE acquired a new stake in shares of ServisFirst Bancshares during the second quarter worth approximately $132,000. PineBridge Investments L.P. acquired a new stake in shares of ServisFirst Bancshares during the second quarter worth approximately $137,000. Finally, Teacher Retirement System of Texas boosted its stake in shares of ServisFirst Bancshares by 14.0% in the second quarter. Teacher Retirement System of Texas now owns 3,083 shares of the financial services provider’s stock worth $152,000 after buying an additional 379 shares during the period. Hedge funds and other institutional investors own 33.94% of the company’s stock.
About ServisFirst Bancshares
ServisFirst Bancshares, Inc is a bank holding company. The Company, through its subsidiary, ServisFirst Bank (the Bank), operates approximately 18 banking offices. Through its bank, the Company originates commercial, consumer and other loans and accepts deposits, provides electronic banking services, such as online and mobile banking, including remote deposit capture, delivers treasury and cash management services, and provides correspondent banking services to other financial institutions.
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