Point72 Asia Singapore Pte. Ltd. Purchases New Stake in ServisFirst Bancshares, Inc. (NYSE:SFBS)

Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of ServisFirst Bancshares, Inc. (NYSE:SFBS) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 1,330 shares of the financial services provider’s stock, valued at approximately $84,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Champlain Investment Partners LLC increased its stake in ServisFirst Bancshares by 34.0% during the first quarter. Champlain Investment Partners LLC now owns 1,438,872 shares of the financial services provider’s stock valued at $95,484,000 after purchasing an additional 364,720 shares during the last quarter. Norden Group LLC boosted its holdings in shares of ServisFirst Bancshares by 2,663.4% in the 1st quarter. Norden Group LLC now owns 266,665 shares of the financial services provider’s stock valued at $17,696,000 after buying an additional 257,015 shares during the period. Vanguard Group Inc. grew its position in shares of ServisFirst Bancshares by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 5,699,645 shares of the financial services provider’s stock valued at $378,228,000 after buying an additional 221,507 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in ServisFirst Bancshares during the second quarter worth about $7,181,000. Finally, Mutual of America Capital Management LLC lifted its holdings in ServisFirst Bancshares by 213.9% in the first quarter. Mutual of America Capital Management LLC now owns 110,164 shares of the financial services provider’s stock worth $7,310,000 after acquiring an additional 75,069 shares during the last quarter. Institutional investors own 67.31% of the company’s stock.

ServisFirst Bancshares Stock Up 2.3 %

Shares of ServisFirst Bancshares stock opened at $79.74 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.94 and a quick ratio of 0.94. ServisFirst Bancshares, Inc. has a 1-year low of $45.21 and a 1-year high of $86.46. The business’s fifty day moving average price is $78.28 and its two-hundred day moving average price is $68.88. The company has a market capitalization of $4.35 billion, a P/E ratio of 21.85 and a beta of 0.87.

ServisFirst Bancshares (NYSE:SFBS) last released its earnings results on Monday, July 15th. The financial services provider reported $0.95 EPS for the quarter, beating the consensus estimate of $0.91 by $0.04. ServisFirst Bancshares had a net margin of 21.25% and a return on equity of 14.19%. The firm had revenue of $114.77 million for the quarter, compared to analysts’ expectations of $114.80 million. As a group, research analysts forecast that ServisFirst Bancshares, Inc. will post 3.86 EPS for the current year.

ServisFirst Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Tuesday, October 1st will be given a dividend of $0.30 per share. The ex-dividend date is Tuesday, October 1st. This represents a $1.20 annualized dividend and a dividend yield of 1.50%. ServisFirst Bancshares’s dividend payout ratio (DPR) is 32.88%.

Insider Transactions at ServisFirst Bancshares

In other news, COO Rodney Eldon Rushing sold 12,000 shares of the firm’s 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 completion of the sale, the chief operating officer now directly owns 307,837 shares of the company’s stock, valued at $24,805,505.46. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 7.40% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on SFBS. Hovde Group raised their price target on 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 shares of ServisFirst Bancshares from $63.00 to $70.00 and gave the company a “neutral” rating in a report on Tuesday, July 16th.

About ServisFirst Bancshares

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.