ServisFirst Bancshares (NYSE:SFBS) Rating Increased to Hold at StockNews.com

ServisFirst Bancshares (NYSE:SFBS) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Monday.

Other research analysts have also issued research reports about the company. Piper Sandler boosted their price objective on ServisFirst Bancshares from $76.00 to $79.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Hovde Group lifted their price target on ServisFirst Bancshares from $80.00 to $91.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd.

ServisFirst Bancshares Trading Down 0.1 %

Shares of NYSE SFBS opened at $94.58 on Monday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.04. The stock’s 50 day moving average price is $83.91 and its two-hundred day moving average price is $74.06. ServisFirst Bancshares has a 52-week low of $49.72 and a 52-week high of $100.14. The stock has a market capitalization of $5.16 billion, a P/E ratio of 25.29 and a beta of 0.86.

ServisFirst Bancshares (NYSE:SFBS) last posted its quarterly earnings results on Monday, October 21st. The financial services provider reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.13. The business had revenue of $256.53 million for the quarter, compared to analyst estimates of $120.70 million. ServisFirst Bancshares had a return on equity of 14.23% and a net margin of 21.16%. During the same period in the prior year, the company posted $0.98 EPS. On average, analysts anticipate that ServisFirst Bancshares will post 4.09 earnings per share for the current fiscal year.

Insider Buying and Selling at ServisFirst Bancshares

In related news, SVP Henry Fulbrook Abbott sold 1,000 shares of ServisFirst Bancshares stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $85.20, for a total transaction of $85,200.00. Following the transaction, the senior vice president now directly owns 8,501 shares of the company’s stock, valued at $724,285.20. The trade was a 10.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 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. The trade was a 3.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SFBS. Geode Capital Management LLC increased its stake in ServisFirst Bancshares by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,157,350 shares of the financial services provider’s stock worth $93,126,000 after purchasing an additional 23,555 shares in the last quarter. M&T Bank Corp increased its position in shares of ServisFirst Bancshares by 2.1% in the third quarter. M&T Bank Corp now owns 33,313 shares of the financial services provider’s stock worth $2,680,000 after acquiring an additional 698 shares in the last quarter. Barclays PLC raised its holdings in shares of ServisFirst Bancshares by 150.6% during the third quarter. Barclays PLC now owns 100,688 shares of the financial services provider’s stock valued at $8,101,000 after acquiring an additional 60,517 shares during the period. Orion Portfolio Solutions LLC lifted its position in shares of ServisFirst Bancshares by 2.4% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 5,569 shares of the financial services provider’s stock valued at $448,000 after acquiring an additional 128 shares in the last quarter. Finally, Jane Street Group LLC boosted its stake in ServisFirst Bancshares by 48.8% in the 3rd quarter. Jane Street Group LLC now owns 76,113 shares of the financial services provider’s stock worth $6,123,000 after purchasing an additional 24,954 shares during the period. Institutional investors and hedge funds own 67.31% 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.