SG Americas Securities LLC Cuts Stock Position in ServisFirst Bancshares, Inc. (NYSE:SFBS)

SG Americas Securities LLC lowered its position in ServisFirst Bancshares, Inc. (NYSE:SFBS) by 47.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,451 shares of the financial services provider’s stock after selling 4,874 shares during the period. SG Americas Securities LLC’s holdings in ServisFirst Bancshares were worth $439,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of ServisFirst Bancshares by 4.0% in the 1st quarter. Vanguard Group Inc. now owns 5,699,645 shares of the financial services provider’s stock worth $378,228,000 after buying an additional 221,507 shares during the last quarter. Champlain Investment Partners LLC grew its position in shares of ServisFirst Bancshares by 34.0% in the 1st quarter. Champlain Investment Partners LLC now owns 1,438,872 shares of the financial services provider’s stock worth $95,484,000 after buying an additional 364,720 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of ServisFirst Bancshares by 3.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,230,925 shares of the financial services provider’s stock worth $77,775,000 after buying an additional 36,302 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of ServisFirst Bancshares by 4.9% in the 2nd quarter. Principal Financial Group Inc. now owns 929,469 shares of the financial services provider’s stock worth $58,733,000 after buying an additional 43,125 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in ServisFirst Bancshares by 1.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 472,799 shares of the financial services provider’s stock worth $29,876,000 after purchasing an additional 7,450 shares during the last quarter. Hedge funds and other institutional investors own 67.31% of the company’s stock.

ServisFirst Bancshares Stock Up 3.1 %

SFBS stock opened at $87.70 on Thursday. The firm’s fifty day simple moving average is $79.05 and its 200-day simple moving average is $69.85. The company has a market capitalization of $4.78 billion, a P/E ratio of 24.23 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, Inc. has a 12 month low of $45.21 and a 12 month high of $87.83.

ServisFirst Bancshares (NYSE:SFBS) last released its quarterly earnings data 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. The business had revenue of $114.77 million for 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%. As a group, equities research analysts forecast that ServisFirst Bancshares, Inc. will post 3.88 earnings per share for the current year.

ServisFirst Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Tuesday, October 1st were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.37%. The ex-dividend date was Tuesday, October 1st. ServisFirst Bancshares’s dividend payout ratio (DPR) is currently 33.15%.

Insider Activity

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

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Hovde Group boosted their target price on shares of ServisFirst Bancshares from $68.00 to $76.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 16th. Piper Sandler boosted 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.

ServisFirst Bancshares 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.