ServisFirst Bancshares (SFBS) Upgraded to Buy by Zacks Investment Research
ServisFirst Bancshares (NASDAQ:SFBS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Saturday. The firm presently has a $47.00 target price on the financial services provider’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 13.47% from the company’s current price.
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 lowered ServisFirst Bancshares from a “buy” rating to a “hold” rating in a research report on Saturday, December 9th.
ServisFirst Bancshares (NASDAQ:SFBS) last posted its quarterly earnings results on Monday, October 16th. The financial services provider reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.02. The firm had revenue of $63.19 million for the quarter, compared to analyst estimates of $64.08 million. ServisFirst Bancshares had a return on equity of 16.84% and a net margin of 35.08%. equities analysts predict that ServisFirst Bancshares will post 1.73 EPS for the current fiscal year.
In other ServisFirst Bancshares news, EVP G. Carlton Barker sold 10,000 shares of the business’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $42.25, for a total value of $422,500.00. Following the transaction, the executive vice president now owns 126,462 shares in the company, valued at $5,343,019.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Rex D. Mckinney sold 33,000 shares of the business’s stock in a transaction dated Thursday, October 19th. The shares were sold at an average price of $40.68, for a total value of $1,342,440.00. Following the completion of the transaction, the chief executive officer now owns 37,340 shares in the company, valued at approximately $1,518,991.20. The disclosure for this sale can be found here. Insiders have sold 61,000 shares of company stock worth $2,497,540 over the last three months. 14.04% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of SFBS. Dimensional Fund Advisors LP grew its stake in ServisFirst Bancshares by 10.8% in the third quarter. Dimensional Fund Advisors LP now owns 1,168,833 shares of the financial services provider’s stock valued at $45,409,000 after purchasing an additional 114,126 shares in the last quarter. Westwood Holdings Group Inc. grew its stake in ServisFirst Bancshares by 43.4% in 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 purchasing an additional 98,776 shares in the last quarter. Vanguard Group Inc. grew its stake in ServisFirst Bancshares by 1.9% in the second quarter. Vanguard Group Inc. now owns 4,051,680 shares of the financial services provider’s stock valued at $149,467,000 after purchasing an additional 75,782 shares in the last quarter. Wells Fargo & Company MN grew its stake in ServisFirst Bancshares by 169.8% in the second quarter. Wells Fargo & Company MN now owns 95,600 shares of the financial services provider’s stock valued at $3,527,000 after purchasing an additional 60,170 shares in the last quarter. Finally, State Street Corp grew its stake in ServisFirst Bancshares by 3.0% in the second quarter. State Street Corp now owns 1,473,750 shares of the financial services provider’s stock valued at $54,367,000 after purchasing an additional 42,757 shares in the last quarter. Hedge funds and other institutional investors own 43.15% of the company’s stock.
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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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