Point72 Asia Singapore Pte. Ltd. Raises Position in ServisFirst Bancshares, Inc. (NYSE:SFBS)

Point72 Asia Singapore Pte. Ltd. lifted its stake in shares of ServisFirst Bancshares, Inc. (NYSE:SFBS) by 142.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,231 shares of the financial services provider’s stock after buying an additional 1,901 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in ServisFirst Bancshares were worth $260,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of SFBS. Quest Partners LLC increased its stake in ServisFirst Bancshares by 4,880.0% in the 2nd quarter. Quest Partners LLC now owns 996 shares of the financial services provider’s stock valued at $63,000 after buying an additional 976 shares during the last quarter. GAMMA Investing LLC lifted its holdings in ServisFirst Bancshares by 138.6% during the third quarter. GAMMA Investing LLC now owns 921 shares of the financial services provider’s stock worth $74,000 after acquiring an additional 535 shares during the period. LMR Partners LLP purchased a new position in ServisFirst Bancshares in the third quarter worth $203,000. Verition Fund Management LLC bought a new position in ServisFirst Bancshares in the 3rd quarter valued at $208,000. Finally, CIBC Asset Management Inc increased its position in shares of ServisFirst Bancshares by 8.7% during the 2nd quarter. CIBC Asset Management Inc now owns 3,328 shares of the financial services provider’s stock valued at $210,000 after purchasing an additional 267 shares during the last quarter. Institutional investors own 67.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Hovde Group boosted their price target on shares of ServisFirst Bancshares from $80.00 to $91.00 and gave the stock a “market perform” rating in a report on Tuesday, October 22nd. Piper Sandler increased their target price on shares of ServisFirst Bancshares from $76.00 to $79.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Finally, StockNews.com cut shares of ServisFirst Bancshares from a “hold” rating to a “sell” rating in a report on Sunday, November 24th.

ServisFirst Bancshares Trading Down 1.0 %

Shares of SFBS opened at $94.30 on Wednesday. ServisFirst Bancshares, Inc. has a fifty-two week low of $53.63 and a fifty-two week high of $101.37. The business has a 50-day moving average of $87.59 and a 200 day moving average of $76.79. The firm has a market cap of $5.14 billion, a P/E ratio of 25.21 and a beta of 0.88. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.95 and a current ratio of 0.95.

ServisFirst Bancshares (NYSE:SFBS) last posted its earnings results on Monday, October 21st. The financial services provider reported $1.10 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.13. ServisFirst Bancshares had a net margin of 21.16% and a return on equity of 14.23%. The firm had revenue of $256.53 million during the quarter, compared to the consensus estimate of $120.70 million. During the same quarter last year, the company earned $0.98 earnings per share. As a group, research analysts forecast that ServisFirst Bancshares, Inc. will post 4.09 EPS for the current year.

ServisFirst Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Tuesday, October 1st were issued a dividend of $0.30 per share. The ex-dividend date was Tuesday, October 1st. This represents a $1.20 dividend on an annualized basis and a yield of 1.27%. ServisFirst Bancshares’s payout ratio is 32.09%.

Insiders Place Their Bets

In other news, SVP Henry Fulbrook Abbott sold 1,000 shares of the stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $85.20, for a total value of $85,200.00. Following the sale, the senior vice president now directly owns 8,501 shares of the company’s stock, valued at approximately $724,285.20. This represents a 10.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Rodney Eldon Rushing sold 12,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $80.58, for a total transaction of $966,960.00. Following the transaction, the chief operating officer now directly owns 307,837 shares of the company’s stock, valued at approximately $24,805,505.46. This represents a 3.75 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 7.40% of the company’s stock.

ServisFirst Bancshares Profile

ServisFirst Bancshares, Inc operates as the bank holding company for ServisFirst Bank that provides various banking services to individual and corporate customers. It accepts demand, time, savings, and other deposits; checking, money market, and IRA accounts; and certificates of deposit. The company's loan products include commercial lending products, including seasonal, bridge, and term loans for working capital, expansion of the business, acquisition of property, and plant and equipment, as well as commercial lines of credit; commercial real estate loans, construction and development loans, and residential real estate loans; and consumer loans, such as home equity loans, vehicle financing, loans secured by deposits, and secured and unsecured personal loans.