ServisFirst Bancshares (SFBS) Upgraded at Zacks Investment Research
ServisFirst Bancshares (NASDAQ:SFBS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Thursday.
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. “
Separately, BidaskClub cut shares of ServisFirst Bancshares from a “buy” rating to a “hold” rating in a research report on Saturday, December 9th.
ServisFirst Bancshares (NASDAQ:SFBS) last issued its quarterly earnings results on Monday, October 16th. The financial services provider reported $0.47 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.02. ServisFirst Bancshares had a net margin of 35.08% and a return on equity of 16.84%. The company had revenue of $63.19 million during the quarter, compared to analysts’ expectations of $64.08 million. sell-side analysts predict that ServisFirst Bancshares will post 1.82 earnings per share for the current fiscal year.
In other ServisFirst Bancshares news, CFO William M. Foshee sold 18,000 shares of the company’s stock in a transaction dated Wednesday, October 25th. The shares were sold at an average price of $40.70, for a total value of $732,600.00. Following the sale, the chief financial officer now owns 289,502 shares of the company’s stock, valued at $11,782,731.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP G. Carlton Barker sold 10,000 shares of the company’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $42.25, for a total transaction of $422,500.00. Following the completion of the sale, the executive vice president now directly owns 126,462 shares in the company, valued at approximately $5,343,019.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 61,000 shares of company stock worth $2,497,540. 14.04% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the business. GSA Capital Partners LLP lifted its holdings in shares of ServisFirst Bancshares by 7.6% in the third quarter. GSA Capital Partners LLP now owns 35,423 shares of the financial services provider’s stock valued at $1,376,000 after purchasing an additional 2,489 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. raised its position in shares of ServisFirst Bancshares by 5.1% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 51,152 shares of the financial services provider’s stock valued at $2,014,000 after buying an additional 2,500 shares during the last quarter. Grandeur Peak Global Advisors LLC raised its position in shares of ServisFirst Bancshares by 104.0% in the third quarter. Grandeur Peak Global Advisors LLC now owns 35,500 shares of the financial services provider’s stock valued at $1,379,000 after buying an additional 18,100 shares during the last quarter. PEAK6 Investments L.P. acquired a new position in shares of ServisFirst Bancshares in the third quarter valued at approximately $316,000. Finally, Jacobs Asset Management LLC raised its position in shares of ServisFirst Bancshares by 6.2% in the third quarter. Jacobs Asset Management LLC now owns 229,794 shares of the financial services provider’s stock valued at $8,927,000 after buying an additional 13,500 shares during the last quarter. 43.15% of the stock is currently owned by institutional investors.
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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