TIAA CREF Investment Management LLC cut its position in shares of ServisFirst Bancshares, Inc. (NASDAQ:SFBS) by 5.5% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 129,220 shares of the financial services provider’s stock after selling 7,534 shares during the period. TIAA CREF Investment Management LLC owned about 0.24% of ServisFirst Bancshares worth $4,701,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Russell Investments Group Ltd. acquired a new position in ServisFirst Bancshares during the fourth quarter worth about $905,000. Dimensional Fund Advisors LP boosted its position in ServisFirst Bancshares by 116.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 800,599 shares of the financial services provider’s stock worth $29,974,000 after buying an additional 430,837 shares during the last quarter. FMR LLC acquired a new position in ServisFirst Bancshares during the fourth quarter worth about $44,082,000. New York State Teachers Retirement System boosted its position in ServisFirst Bancshares by 100.0% in the fourth quarter. New York State Teachers Retirement System now owns 25,320 shares of the financial services provider’s stock worth $948,000 after buying an additional 12,660 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY boosted its position in ServisFirst Bancshares by 74.3% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 30,780 shares of the financial services provider’s stock valued at $1,152,000 after buying an additional 13,121 shares in the last quarter. 43.45% of the stock is owned by hedge funds and other institutional investors.
ServisFirst Bancshares, Inc. (NASDAQ:SFBS) traded down 0.20% during mid-day trading on Wednesday, reaching $34.23. The company had a trading volume of 95,480 shares. The company has a market capitalization of $1.81 billion, a P/E ratio of 20.75 and a beta of 1.38. ServisFirst Bancshares, Inc. has a one year low of $24.69 and a one year high of $42.66. The stock has a 50 day moving average price of $36.28 and a 200 day moving average price of $37.44.
ServisFirst Bancshares (NASDAQ:SFBS) last announced its earnings results on Thursday, July 20th. The financial services provider reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.02. ServisFirst Bancshares had a return on equity of 16.67% and a net margin of 35.15%. The firm had revenue of $60.37 million for the quarter, compared to the consensus estimate of $60.33 million. On average, equities analysts expect that ServisFirst Bancshares, Inc. will post $1.80 earnings per share for the current fiscal year.
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Several research firms have recently weighed in on SFBS. Zacks Investment Research cut ServisFirst Bancshares from a “buy” rating to a “hold” rating in a research report on Thursday, July 20th. BidaskClub cut ServisFirst Bancshares from a “sell” rating to a “strong sell” rating in a research report on Wednesday, June 28th. Stephens reiterated a “hold” rating and set a $38.00 target price on shares of ServisFirst Bancshares in a report on Wednesday, July 19th. Finally, Hovde Group upgraded ServisFirst Bancshares from an “underperform” rating to a “market perform” rating and set a $37.00 target price on the stock in a report on Tuesday, April 18th. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company. The stock presently has an average rating of “Hold” and an average target price of $49.75.
ServisFirst Bancshares Company Profile
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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