Millennium Management LLC Has $5.95 Million Stock Position in ServisFirst Bancshares, Inc. (NYSE:SFBS)

Millennium Management LLC boosted its position in shares of ServisFirst Bancshares, Inc. (NYSE:SFBS) by 182.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 94,185 shares of the financial services provider’s stock after acquiring an additional 60,781 shares during the quarter. Millennium Management LLC owned 0.17% of ServisFirst Bancshares worth $5,952,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the company. Quest Partners LLC increased 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 during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of ServisFirst Bancshares during the 2nd quarter valued at $84,000. Scarborough Advisors LLC acquired a new stake in shares of ServisFirst Bancshares during the 4th quarter worth $102,000. CIBC Asset Management Inc increased its position in shares of ServisFirst Bancshares by 8.7% in the second 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, Bayesian Capital Management LP acquired a new position in ServisFirst Bancshares in the first quarter valued at about $217,000. 67.31% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, COO Rodney Eldon Rushing sold 12,000 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $80.58, for a total transaction of $966,960.00. Following the transaction, the chief operating officer now owns 307,837 shares in the company, valued at approximately $24,805,505.46. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 7.40% of the company’s stock.

ServisFirst Bancshares Price Performance

ServisFirst Bancshares stock opened at $78.31 on Friday. The stock’s 50 day moving average is $78.24 and its 200 day moving average is $69.29. ServisFirst Bancshares, Inc. has a one year low of $45.21 and a one year high of $86.46. The firm has a market cap of $4.27 billion, a P/E ratio of 21.45 and a beta of 0.86. 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 (NYSE:SFBS) last posted its quarterly earnings data on Monday, July 15th. The financial services provider reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.04. The company had revenue of $114.77 million for 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%. As a group, research analysts expect that ServisFirst Bancshares, Inc. will post 3.88 EPS for the current year.

ServisFirst Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Tuesday, October 1st were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.53%. The ex-dividend date of this dividend was Tuesday, October 1st. ServisFirst Bancshares’s dividend payout ratio (DPR) is presently 32.88%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on SFBS shares. Piper Sandler lifted their price target on ServisFirst Bancshares from $63.00 to $70.00 and gave the company a “neutral” rating in a research note on Tuesday, July 16th. Hovde Group raised their target price on shares of ServisFirst Bancshares from $68.00 to $76.00 and gave the company a “market perform” rating in a research 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.