Synovus Financial Corp raised its holdings in ServisFirst Bancshares, Inc. (NASDAQ:SFBS) by 772.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 12,500 shares of the financial services provider’s stock after purchasing an additional 11,068 shares during the quarter. Synovus Financial Corp’s holdings in ServisFirst Bancshares were worth $461,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of the business. Alps Advisors Inc. boosted its holdings in ServisFirst Bancshares by 0.3% in the second quarter. Alps Advisors Inc. now owns 11,942 shares of the financial services provider’s stock valued at $441,000 after purchasing an additional 31 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in shares of ServisFirst Bancshares by 2.3% during the 1st quarter. State of Alaska Department of Revenue now owns 4,890 shares of the financial services provider’s stock worth $177,000 after acquiring an additional 110 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its stake in shares of ServisFirst Bancshares by 1.6% during the 1st quarter. Municipal Employees Retirement System of Michigan now owns 10,100 shares of the financial services provider’s stock worth $367,000 after acquiring an additional 160 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of ServisFirst Bancshares by 1.7% during the 1st quarter. Louisiana State Employees Retirement System now owns 18,100 shares of the financial services provider’s stock worth $658,000 after acquiring an additional 300 shares in the last quarter. Finally, Arizona State Retirement System boosted its stake in shares of ServisFirst Bancshares by 1.3% during the 1st quarter. Arizona State Retirement System now owns 23,100 shares of the financial services provider’s stock worth $840,000 after acquiring an additional 300 shares in the last quarter. 42.55% of the stock is currently owned by institutional investors.
SFBS has been the topic of several recent analyst reports. Zacks Investment Research lowered shares of ServisFirst Bancshares from a “buy” rating to a “hold” rating in a research note on Tuesday. Stephens reissued a “hold” rating and set a $38.00 target price on shares of ServisFirst Bancshares in a research note on Wednesday, July 19th. Finally, BidaskClub lowered shares of ServisFirst Bancshares from a “sell” rating to a “strong sell” rating in a research note on Wednesday, June 28th. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. ServisFirst Bancshares has a consensus rating of “Hold” and an average price target of $37.67.
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In other ServisFirst Bancshares news, EVP Rex D. Mckinney sold 75,000 shares of the company’s stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $33.55, for a total value of $2,516,250.00. Following the sale, the executive vice president now owns 105,340 shares of the company’s stock, valued at $3,534,157. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Bradford Alan Vieira sold 3,750 shares of the company’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $34.38, for a total transaction of $128,925.00. Following the completion of the sale, the executive vice president now directly owns 33,750 shares in the company, valued at approximately $1,160,325. The disclosure for this sale can be found here. 14.04% of the stock is currently owned by insiders.
ServisFirst Bancshares, Inc. (SFBS) opened at 36.38 on Friday. ServisFirst Bancshares, Inc. has a 52-week low of $25.00 and a 52-week high of $42.66. The firm has a market cap of $1.93 billion, a P/E ratio of 22.05 and a beta of 1.40. The company’s 50 day moving average is $34.55 and its 200 day moving average is $36.23.
ServisFirst Bancshares (NASDAQ:SFBS) last released its quarterly earnings data on Thursday, July 20th. The financial services provider reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.02. The firm had revenue of $60.37 million for the quarter, compared to the consensus estimate of $60.33 million. ServisFirst Bancshares had a net margin of 35.15% and a return on equity of 16.67%. Equities research analysts forecast that ServisFirst Bancshares, Inc. will post $1.80 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Monday, October 2nd will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend is Friday, September 29th. ServisFirst Bancshares’s dividend payout ratio is currently 12.05%.
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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