ServisFirst Bancshares, Inc. (NYSE:SFBS) Raises Dividend to $0.34 Per Share

ServisFirst Bancshares, Inc. (NYSE:SFBSGet Free Report) declared a quarterly dividend on Monday, December 16th,RTT News reports. Investors of record on Thursday, January 2nd will be given a dividend of 0.335 per share by the financial services provider on Friday, January 10th. This represents a $1.34 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend is Thursday, January 2nd. This is a positive change from ServisFirst Bancshares’s previous quarterly dividend of $0.30.

ServisFirst Bancshares has raised its dividend by an average of 16.3% annually over the last three years. ServisFirst Bancshares has a dividend payout ratio of 23.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect ServisFirst Bancshares to earn $5.01 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 24.0%.

ServisFirst Bancshares Stock Down 2.3 %

Shares of NYSE:SFBS opened at $92.25 on Wednesday. The company has a 50 day moving average price of $90.43 and a two-hundred day moving average price of $78.80. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market capitalization of $5.03 billion, a PE ratio of 24.67 and a beta of 0.88. ServisFirst Bancshares has a 52 week low of $58.05 and a 52 week high of $101.37.

ServisFirst Bancshares (NYSE:SFBSGet Free Report) last released its quarterly earnings data on Monday, October 21st. The financial services provider reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.13. The business had revenue of $256.53 million during the quarter, compared to analysts’ expectations of $120.70 million. ServisFirst Bancshares had a net margin of 21.16% and a return on equity of 14.23%. During the same quarter in the prior year, the company earned $0.98 EPS. Analysts forecast that ServisFirst Bancshares will post 4.09 earnings per share for the current year.

Insider Activity at ServisFirst Bancshares

In other news, SVP Henry Fulbrook Abbott sold 1,000 shares of ServisFirst Bancshares stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $85.20, for a total value of $85,200.00. Following the completion of the sale, the senior vice president now directly owns 8,501 shares in the company, valued at approximately $724,285.20. The trade was a 10.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 7.40% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

Read Our Latest Stock Report on ServisFirst Bancshares

ServisFirst Bancshares Company Profile

(Get Free Report)

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.

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Dividend History for ServisFirst Bancshares (NYSE:SFBS)

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