ServisFirst Bancshares Inc. (SFBS) Price Target Raised to $55.50
ServisFirst Bancshares Inc. (NASDAQ:SFBS) had its price objective lifted by investment analysts at Hovde Group from $55.00 to $55.50 in a research note issued to investors on Tuesday. The brokerage currently has a “market perform” rating on the financial services provider’s stock. Hovde Group’s target price suggests a potential upside of 7.14% from the stock’s current price.
Other equities analysts have also recently issued reports about the company. Raymond James Financial Inc. upgraded ServisFirst Bancshares from an “outperform” rating to a “strong-buy” rating and set a $43.00 price objective on the stock in a research note on Thursday, August 25th. Zacks Investment Research cut ServisFirst Bancshares from a “buy” rating to a “hold” rating in a research note on Wednesday, June 22nd.
ServisFirst Bancshares (NASDAQ:SFBS) opened at 51.80 on Tuesday. The firm has a 50 day moving average of $51.97 and a 200 day moving average of $50.28. The firm has a market capitalization of $1.36 billion, a P/E ratio of 18.44 and a beta of 1.20. ServisFirst Bancshares has a 12-month low of $34.12 and a 12-month 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.06. ServisFirst Bancshares had a return on equity of 15.77% and a net margin of 34.23%. On average, analysts forecast that ServisFirst Bancshares will post $2.79 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, October 14th. Stockholders of record on Tuesday, October 4th were given a dividend of $0.08 per share. 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 is presently 11.76%.
In other news, EVP Andrew N. Kattos sold 4,259 shares of the firm’s stock in a transaction on Wednesday, October 5th. The stock was sold at an average price of $52.46, for a total transaction 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 approximately $6,693,738.62. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Rex D. Mckinney sold 48,000 shares of the firm’s stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $50.32, for a total value of $2,415,360.00. Following the sale, the executive vice president now directly owns 28,000 shares of the company’s stock, valued at $1,408,960. The disclosure for this sale can be found here. Insiders own 14.28% of the company’s stock.
A number of large investors have recently made changes to their positions in the company. Macquarie Group Ltd. purchased a new stake in shares of ServisFirst Bancshares during the second quarter valued at $1,397,000. Mason Street Advisors LLC purchased a new stake in shares of ServisFirst Bancshares during the second quarter valued at $210,000. Royal Bank of Canada raised its stake in shares of ServisFirst Bancshares by 569.9% in the second quarter. Royal Bank of Canada now owns 368,850 shares of the financial services provider’s stock valued at $18,217,000 after buying an additional 313,789 shares during the period. Calvert Investment Management Inc. purchased a new stake in shares of ServisFirst Bancshares during the second quarter valued at $3,789,000. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of ServisFirst Bancshares by 1.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 74,802 shares of the financial services provider’s stock valued at $3,695,000 after buying an additional 1,230 shares during the period. 33.94% of the stock is owned by institutional investors.
ServisFirst Bancshares Company Profile
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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