Envestnet Asset Management Inc. Sells 13,473 Shares of ServisFirst Bancshares, Inc. $SFBS

Envestnet Asset Management Inc. lowered its stake in ServisFirst Bancshares, Inc. (NYSE:SFBS) by 9.0% in the third quarter, HoldingsChannel.com reports. The firm owned 136,559 shares of the financial services provider’s stock after selling 13,473 shares during the quarter. Envestnet Asset Management Inc.’s holdings in ServisFirst Bancshares were worth $10,997,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of ServisFirst Bancshares in the 2nd quarter valued at $47,309,000. Champlain Investment Partners LLC boosted its holdings in ServisFirst Bancshares by 15.7% in the second quarter. Champlain Investment Partners LLC now owns 2,566,528 shares of the financial services provider’s stock valued at $198,932,000 after acquiring an additional 349,177 shares during the last quarter. First Trust Advisors LP increased its position in ServisFirst Bancshares by 231.6% in the second quarter. First Trust Advisors LP now owns 326,702 shares of the financial services provider’s stock worth $25,323,000 after purchasing an additional 228,187 shares during the period. Sei Investments Co. raised its holdings in ServisFirst Bancshares by 135.3% during the 2nd quarter. Sei Investments Co. now owns 218,074 shares of the financial services provider’s stock worth $16,903,000 after purchasing an additional 125,378 shares during the last quarter. Finally, Jane Street Group LLC bought a new position in shares of ServisFirst Bancshares in the 1st quarter valued at about $7,936,000. Institutional investors and hedge funds own 67.31% of the company’s stock.

ServisFirst Bancshares Price Performance

Shares of SFBS opened at $85.32 on Thursday. The stock has a 50 day simple moving average of $78.75 and a 200 day simple moving average of $78.25. ServisFirst Bancshares, Inc. has a 52-week low of $66.48 and a 52-week high of $93.43. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.97 and a current ratio of 0.97. The firm has a market capitalization of $4.66 billion, a PE ratio of 16.86 and a beta of 0.94.

ServisFirst Bancshares (NYSE:SFBS) last announced its quarterly earnings results on Tuesday, January 20th. The financial services provider reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.20. The firm had revenue of $162.21 million for the quarter, compared to analyst estimates of $151.82 million. ServisFirst Bancshares had a net margin of 26.95% and a return on equity of 16.36%. Sell-side analysts predict that ServisFirst Bancshares, Inc. will post 5.17 EPS for the current fiscal year.

ServisFirst Bancshares Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 13th. Shareholders of record on Friday, January 2nd were issued a dividend of $0.38 per share. This is a boost from ServisFirst Bancshares’s previous quarterly dividend of $0.34. The ex-dividend date was Friday, January 2nd. This represents a $1.52 dividend on an annualized basis and a yield of 1.8%. ServisFirst Bancshares’s dividend payout ratio is currently 30.04%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on SFBS shares. Zacks Research raised shares of ServisFirst Bancshares from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 22nd. Hovde Group upgraded shares of ServisFirst Bancshares from a “market perform” rating to an “outperform” rating and set a $89.00 target price for the company in a research report on Friday, December 19th. Weiss Ratings restated a “hold (c)” rating on shares of ServisFirst Bancshares in a research report on Monday, December 29th. Raymond James Financial upgraded ServisFirst Bancshares from an “outperform” rating to a “strong-buy” rating and set a $95.00 price objective for the company in a report on Wednesday, January 21st. Finally, Piper Sandler raised ServisFirst Bancshares from a “neutral” rating to an “overweight” rating and set a $89.00 target price on the stock in a research note on Wednesday, January 21st. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $91.00.

ServisFirst Bancshares Profile

ServisFirst Bancshares, Inc is a bank holding company headquartered in Birmingham, Alabama, and the parent of ServisFirst Bank. The company specializes in commercial banking services, catering primarily to small and mid-sized businesses, professionals and entrepreneurs. Its product portfolio encompasses commercial real estate lending, commercial and industrial loans, deposit accounts, treasury management and other ancillary banking products designed to meet the financial needs of its clients.

ServisFirst Bank offers a full suite of deposit products, including interest-bearing checking, money market accounts and certificates of deposit, as well as a variety of loan products.