Insider Selling: ServisFirst Bancshares, Inc. (SFBS) CFO Sells 18,000 Shares of Stock
ServisFirst Bancshares, Inc. (NASDAQ:SFBS) CFO William M. Foshee sold 18,000 shares of the firm’s stock in a transaction dated Wednesday, October 25th. The stock was sold at an average price of $40.70, for a total transaction of $732,600.00. Following the completion of the transaction, the chief financial officer now owns 289,502 shares in the company, valued at $11,782,731.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
ServisFirst Bancshares, Inc. (NASDAQ SFBS) traded up 1.54% during trading on Thursday, reaching $41.43. 19,588 shares of the company’s stock traded hands. The firm’s 50 day moving average is $37.83 and its 200-day moving average is $36.53. ServisFirst Bancshares, Inc. has a 12 month low of $25.59 and a 12 month high of $42.66. The company has a market capitalization of $2.19 billion, a price-to-earnings ratio of 25.11 and a beta of 1.44.
ServisFirst Bancshares (NASDAQ:SFBS) last issued its quarterly earnings results on Monday, October 16th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.02. The business had revenue of $63.19 million for the quarter, compared to the consensus estimate of $64.08 million. ServisFirst Bancshares had a net margin of 35.08% and a return on equity of 16.84%. Analysts expect that ServisFirst Bancshares, Inc. will post $1.82 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, October 13th. Investors of record on Monday, October 2nd were given a dividend of $0.05 per share. The ex-dividend date was Friday, September 29th. This represents a $0.20 annualized dividend and a yield of 0.49%. ServisFirst Bancshares’s dividend payout ratio (DPR) is 11.49%.
A number of research analysts have recently issued reports on SFBS shares. Zacks Investment Research upgraded shares of ServisFirst Bancshares from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a research report on Thursday, August 31st. Stephens reiterated a “hold” rating and issued a $38.00 price objective on shares of ServisFirst Bancshares in a research report on Wednesday, July 19th. Finally, BidaskClub downgraded shares of ServisFirst Bancshares from a “sell” rating to a “strong sell” rating in a research report on Wednesday, June 28th.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Peregrine Capital Management LLC lifted its position in ServisFirst Bancshares by 3.5% during the 3rd quarter. Peregrine Capital Management LLC now owns 502,836 shares of the financial services provider’s stock worth $19,535,000 after buying an additional 17,072 shares in the last quarter. Saratoga Research & Investment Management acquired a new position in ServisFirst Bancshares during the 3rd quarter worth about $1,615,000. Dynamic Technology Lab Private Ltd acquired a new position in ServisFirst Bancshares during the 2nd quarter worth about $397,000. Piedmont Investment Advisors LLC acquired a new position in ServisFirst Bancshares during the 2nd quarter worth about $354,000. Finally, Westwood Holdings Group Inc. lifted its position in ServisFirst Bancshares by 43.4% during the 2nd quarter. Westwood Holdings Group Inc. now owns 326,609 shares of the financial services provider’s stock worth $12,049,000 after buying an additional 98,776 shares in the last quarter. Institutional investors and hedge funds own 42.51% 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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