State of New Jersey Common Pension Fund D Cuts Stock Holdings in ServisFirst Bancshares, Inc. (NYSE:SFBS)

State of New Jersey Common Pension Fund D lessened its holdings in ServisFirst Bancshares, Inc. (NYSE:SFBS) by 32.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,391 shares of the financial services provider’s stock after selling 14,550 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.06% of ServisFirst Bancshares worth $1,920,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. US Bancorp DE grew its holdings in ServisFirst Bancshares by 0.9% during the first quarter. US Bancorp DE now owns 19,439 shares of the financial services provider’s stock worth $1,290,000 after acquiring an additional 181 shares during the period. Precision Wealth Strategies LLC boosted its position in shares of ServisFirst Bancshares by 2.5% during the 1st quarter. Precision Wealth Strategies LLC now owns 7,868 shares of the financial services provider’s stock worth $522,000 after purchasing an additional 191 shares in the last quarter. Texas Permanent School Fund Corp boosted its position in shares of ServisFirst Bancshares by 0.6% during the 2nd quarter. Texas Permanent School Fund Corp now owns 43,131 shares of the financial services provider’s stock worth $2,725,000 after purchasing an additional 254 shares in the last quarter. CIBC Asset Management Inc grew its stake 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 worth $210,000 after purchasing an additional 267 shares during the period. Finally, Arizona State Retirement System increased its holdings in shares of ServisFirst Bancshares by 2.0% in the 2nd quarter. Arizona State Retirement System now owns 14,495 shares of the financial services provider’s stock valued at $916,000 after purchasing an additional 283 shares in the last quarter. Institutional investors and hedge funds own 67.31% of the company’s stock.

Insider Activity at ServisFirst Bancshares

In other ServisFirst Bancshares news, COO Rodney Eldon Rushing sold 12,000 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $80.58, for a total transaction of $966,960.00. Following the sale, the chief operating officer now owns 307,837 shares in the company, valued at approximately $24,805,505.46. The sale was disclosed in a legal filing with the SEC, which is available through this link. 7.40% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently commented on SFBS shares. Hovde Group boosted their price objective on shares of ServisFirst Bancshares from $68.00 to $76.00 and gave the stock a “market perform” rating in a report on Tuesday, July 16th. Piper Sandler boosted their price target on ServisFirst Bancshares from $63.00 to $70.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 16th.

ServisFirst Bancshares Trading Down 2.0 %

Shares of SFBS stock opened at $84.50 on Friday. ServisFirst Bancshares, Inc. has a fifty-two week low of $45.21 and a fifty-two week high of $86.46. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.04. The business has a fifty day simple moving average of $78.06 and a 200-day simple moving average of $67.81. The stock has a market cap of $4.61 billion, a P/E ratio of 23.15 and a beta of 0.87.

ServisFirst Bancshares (NYSE:SFBS) last posted its earnings results on Monday, July 15th. The financial services provider reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.04. The firm had revenue of $114.77 million during the quarter, compared to the consensus estimate of $114.80 million. ServisFirst Bancshares had a net margin of 21.25% and a return on equity of 14.19%. On average, analysts forecast that ServisFirst Bancshares, Inc. will post 3.82 earnings per share for the current fiscal year.

ServisFirst Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 8th. Investors of record on Tuesday, October 1st will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $1.20 annualized dividend and a dividend yield of 1.42%. ServisFirst Bancshares’s dividend payout ratio is currently 32.88%.

ServisFirst Bancshares Company 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.