ServisFirst Bancshares, Inc. (SFBS) Lowered to “Hold” at Zacks Investment Research
ServisFirst Bancshares, Inc. (NASDAQ:SFBS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.
According to Zacks, “ServisFirst Bancshares Inc. is a bank holding company. Through its subsidiary, ServisFirst Bank, it provides business and personal financial services. It offers various deposit products; commercial lending products; commercial real estate loans, construction and development loans, and residential real estate loans; and consumer loans. ServisFirst Bancshares, Inc. is headquartered in Birmingham, Alabama. “
Other equities analysts also recently issued reports about the stock. Stephens reaffirmed a “hold” rating and set a $38.00 price objective on shares of ServisFirst Bancshares in a report on Wednesday, July 19th. BidaskClub cut shares of ServisFirst Bancshares from a “sell” rating to a “strong sell” rating in a research report on Wednesday, June 28th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $37.67.
Shares of ServisFirst Bancshares (NASDAQ:SFBS) opened at 35.63 on Tuesday. The company has a market capitalization of $1.89 billion, a P/E ratio of 21.59 and a beta of 1.40. The firm has a 50-day moving average of $34.56 and a 200-day moving average of $36.28. ServisFirst Bancshares has a one year low of $25.00 and a one year high of $42.66.
ServisFirst Bancshares (NASDAQ:SFBS) last posted its quarterly earnings data on Thursday, July 20th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.02. The business had revenue of $60.37 million for the quarter, compared to the consensus estimate of $60.33 million. ServisFirst Bancshares had a net margin of 35.15% and a return on equity of 16.67%. Analysts forecast that ServisFirst Bancshares will post $1.80 earnings per share for the current year.
In other ServisFirst Bancshares news, EVP Rex D. Mckinney sold 75,000 shares of ServisFirst Bancshares stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $33.55, for a total transaction of $2,516,250.00. Following the completion of the sale, the executive vice president now directly owns 105,340 shares in the company, valued at $3,534,157. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director James J. Filler purchased 3,546 shares of the company’s stock in a transaction on Friday, September 8th. The shares were bought at an average price of $32.79 per share, with a total value of $116,273.34. Following the completion of the transaction, the director now owns 1,313,152 shares of the company’s stock, valued at $43,058,254.08. The disclosure for this purchase can be found here. 14.04% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the business. Dynamic Technology Lab Private Ltd acquired a new stake in shares of ServisFirst Bancshares during the second quarter valued at about $397,000. Piedmont Investment Advisors LLC acquired a new stake in shares of ServisFirst Bancshares during the second quarter valued at about $354,000. Westwood Holdings Group Inc. increased its position in shares of ServisFirst Bancshares by 43.4% during the second quarter. Westwood Holdings Group Inc. now owns 326,609 shares of the financial services provider’s stock valued at $12,049,000 after acquiring an additional 98,776 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its position in shares of ServisFirst Bancshares by 25.3% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 36,134 shares of the financial services provider’s stock valued at $1,333,000 after acquiring an additional 7,303 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of ServisFirst Bancshares by 0.4% during the second quarter. The Manufacturers Life Insurance Company now owns 36,174 shares of the financial services provider’s stock valued at $1,334,000 after acquiring an additional 150 shares during the last quarter. Institutional investors and hedge funds own 42.55% of the company’s stock.
About ServisFirst Bancshares
ServisFirst Bancshares, Inc is a bank holding company whose business is conducted by its subsidiary, ServisFirst Bank (the Bank). The Company’s principal business is to accept deposits from the public and to make loans and other investments. The Company, through its bank, originates commercial, consumer and other loans; accept deposits; provides electronic banking services, such as online and mobile banking, including remote deposit capture, deliver treasury and cash management services, and provides correspondent banking services to other financial institutions.
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