118,207 Shares in ServisFirst Bancshares, Inc. (NYSE:SFBS) Acquired by Sanctuary Advisors LLC

Sanctuary Advisors LLC purchased a new stake in ServisFirst Bancshares, Inc. (NYSE:SFBS) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 118,207 shares of the financial services provider’s stock, valued at approximately $7,181,000. Sanctuary Advisors LLC owned 0.22% of ServisFirst Bancshares at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in SFBS. Quest Partners LLC grew its holdings in shares of ServisFirst Bancshares by 4,880.0% during the second quarter. Quest Partners LLC now owns 996 shares of the financial services provider’s stock worth $63,000 after purchasing an additional 976 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in ServisFirst Bancshares during the second quarter valued at approximately $84,000. Scarborough Advisors LLC purchased a new position in ServisFirst Bancshares in the 4th quarter worth approximately $102,000. CIBC Asset Management Inc increased its holdings in shares of ServisFirst Bancshares by 8.7% in the 2nd quarter. CIBC Asset Management Inc now owns 3,328 shares of the financial services provider’s stock worth $210,000 after buying an additional 267 shares during the last quarter. Finally, Bayesian Capital Management LP bought a new position in shares of ServisFirst Bancshares in the 1st quarter worth $217,000. 67.31% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on SFBS. Piper Sandler upped their target price on shares of ServisFirst Bancshares from $63.00 to $70.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 16th. Hovde Group upped their price objective on ServisFirst Bancshares from $68.00 to $76.00 and gave the stock a “market perform” rating in a report on Tuesday, July 16th.

ServisFirst Bancshares Price Performance

Shares of ServisFirst Bancshares stock opened at $79.74 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.94 and a current ratio of 0.94. ServisFirst Bancshares, Inc. has a 52-week low of $45.21 and a 52-week high of $86.46. The company has a fifty day moving average of $78.28 and a 200-day moving average of $68.88. The stock has a market capitalization of $4.35 billion, a price-to-earnings ratio of 21.85 and a beta of 0.87.

ServisFirst Bancshares (NYSE:SFBS) last posted its quarterly earnings results on Monday, July 15th. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.04. The business had revenue of $114.77 million during the quarter, compared to analyst estimates of $114.80 million. ServisFirst Bancshares had a net margin of 21.25% and a return on equity of 14.19%. Equities research analysts expect that ServisFirst Bancshares, Inc. will post 3.86 EPS for the current year.

ServisFirst Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 8th. Shareholders of record on Tuesday, October 1st will be paid a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $1.20 dividend on an annualized basis and a yield of 1.50%. ServisFirst Bancshares’s dividend payout ratio (DPR) is currently 32.88%.

Insiders Place Their Bets

In related news, COO Rodney Eldon Rushing sold 12,000 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $80.58, for a total transaction of $966,960.00. Following the completion of the sale, the chief operating officer now directly owns 307,837 shares in the company, valued at $24,805,505.46. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 7.40% of the company’s stock.

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.