ServisFirst Bancshares (NYSE:SFBS) Issues Quarterly Earnings Results, Meets Estimates

ServisFirst Bancshares (NYSE:SFBS) issued its quarterly earnings results on Monday. The financial services provider reported $1.57 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.57, FiscalAI reports. ServisFirst Bancshares had a return on equity of 16.95% and a net margin of 28.80%.

ServisFirst Bancshares Stock Performance

SFBS traded down $1.26 during trading on Monday, reaching $85.68. The company’s stock had a trading volume of 372,803 shares, compared to its average volume of 310,448. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.98 and a current ratio of 0.98. The company’s fifty day moving average price is $81.31 and its 200-day moving average price is $79.56. ServisFirst Bancshares has a 52-week low of $67.20 and a 52-week high of $90.64. The company has a market capitalization of $4.68 billion, a price-to-earnings ratio of 15.81 and a beta of 0.86.

ServisFirst Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Wednesday, July 1st were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Wednesday, July 1st. ServisFirst Bancshares’s payout ratio is currently 28.04%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SFBS. Piper Sandler lifted their target price on ServisFirst Bancshares from $89.00 to $91.00 and gave the company an “overweight” rating in a research note on Tuesday, April 21st. Weiss Ratings upgraded ServisFirst Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, June 1st. Finally, Zacks Research downgraded ServisFirst Bancshares from a “strong-buy” rating to a “hold” rating in a report on Monday, March 23rd. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, ServisFirst Bancshares currently has an average rating of “Buy” and an average price target of $94.33.

Institutional Trading of ServisFirst Bancshares

Hedge funds have recently modified their holdings of the business. State Street Corp lifted its holdings in ServisFirst Bancshares by 3.5% in the fourth quarter. State Street Corp now owns 2,463,986 shares of the financial services provider’s stock valued at $176,890,000 after acquiring an additional 82,912 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of ServisFirst Bancshares by 12.2% in the 4th quarter. JPMorgan Chase & Co. now owns 1,079,628 shares of the financial services provider’s stock valued at $77,506,000 after purchasing an additional 117,464 shares in the last quarter. NewEdge Advisors LLC increased its holdings in shares of ServisFirst Bancshares by 307,426.8% in the 4th quarter. NewEdge Advisors LLC now owns 919,505 shares of the financial services provider’s stock valued at $66,011,000 after purchasing an additional 919,206 shares in the last quarter. Wasatch Advisors LP lifted its stake in shares of ServisFirst Bancshares by 31.6% in the third quarter. Wasatch Advisors LP now owns 667,781 shares of the financial services provider’s stock valued at $53,776,000 after purchasing an additional 160,465 shares during the period. Finally, First Trust Advisors LP boosted its holdings in ServisFirst Bancshares by 8.3% during the fourth quarter. First Trust Advisors LP now owns 571,853 shares of the financial services provider’s stock worth $41,053,000 after buying an additional 43,842 shares in the last quarter. 67.31% of the stock is owned by institutional investors and hedge funds.

ServisFirst Bancshares Company 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.