ServisFirst Bancshares Inc. (SFBS) Given “Market Perform” Rating at Raymond James Financial Inc.
ServisFirst Bancshares Inc. (NASDAQ:SFBS)‘s stock had its “market perform” rating reaffirmed by equities researchers at Raymond James Financial Inc. in a report released on Tuesday.
Other equities research analysts have also issued research reports about the company. Zacks Investment Research lowered ServisFirst Bancshares from a “buy” rating to a “hold” rating in a research report on Wednesday, June 22nd. Hovde Group upped their target price on ServisFirst Bancshares from $55.00 to $55.50 and gave the company a “market perform” rating in a research report on Tuesday.
ServisFirst Bancshares (NASDAQ:SFBS) opened at 51.80 on Tuesday. ServisFirst Bancshares has a 52-week low of $34.12 and a 52-week high of $53.58. The firm’s 50 day moving average price is $51.97 and its 200 day moving average price is $50.28. The firm has a market cap of $1.36 billion, a price-to-earnings ratio of 18.44 and a beta of 1.20.
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ServisFirst Bancshares (NASDAQ:SFBS) last announced its earnings results on Monday, October 17th. The financial services provider reported $0.78 EPS for the quarter, beating the consensus estimate of $0.72 by $0.06. ServisFirst Bancshares had a return on equity of 15.77% and a net margin of 34.23%. Equities research analysts anticipate that ServisFirst Bancshares will post $2.79 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 14th. Stockholders of record on Tuesday, October 4th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend was Friday, September 30th. ServisFirst Bancshares’s dividend payout ratio (DPR) is presently 11.76%.
In other news, EVP Rex D. Mckinney sold 48,000 shares of the stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $50.32, for a total value of $2,415,360.00. Following the completion of the sale, the executive vice president now directly owns 28,000 shares of the company’s stock, valued at $1,408,960. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Andrew N. Kattos sold 4,259 shares of the stock in a transaction that occurred on Wednesday, October 5th. The stock was sold at an average price of $52.46, for a total value of $223,427.14. Following the completion of the sale, the executive vice president now directly owns 127,597 shares of the company’s stock, valued at $6,693,738.62. The disclosure for this sale can be found here. 14.28% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of 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. increased 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 last quarter. 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 increased 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 last quarter. 33.94% of the stock is owned by hedge funds and other institutional investors.
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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