ServisFirst Bancshares, Inc. (NYSE:SFBS) Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. boosted its position in ServisFirst Bancshares, Inc. (NYSE:SFBS) by 9.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 491,818 shares of the financial services provider’s stock after purchasing an additional 43,844 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.90% of ServisFirst Bancshares worth $39,567,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SFBS. Victory Capital Management Inc. lifted its holdings in shares of ServisFirst Bancshares by 2,704.5% in the third quarter. Victory Capital Management Inc. now owns 415,510 shares of the financial services provider’s stock valued at $33,428,000 after buying an additional 400,694 shares during the period. Ceredex Value Advisors LLC bought a new stake in ServisFirst Bancshares in the third quarter worth about $10,507,000. Sanctuary Advisors LLC acquired a new stake in ServisFirst Bancshares in the 2nd quarter valued at about $7,181,000. Principal Financial Group Inc. boosted its position in shares of ServisFirst Bancshares by 11.6% during the 3rd quarter. Principal Financial Group Inc. now owns 1,037,557 shares of the financial services provider’s stock valued at $83,466,000 after purchasing an additional 108,088 shares in the last quarter. Finally, HHM Wealth Advisors LLC acquired a new position in shares of ServisFirst Bancshares in the 2nd quarter worth approximately $4,453,000. 67.31% of the stock is owned by institutional investors.

Insider Buying and Selling

In other ServisFirst Bancshares news, COO Rodney Eldon Rushing sold 12,000 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $80.58, for a total value of $966,960.00. Following the transaction, the chief operating officer now owns 307,837 shares in the company, valued at $24,805,505.46. The trade was a 3.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Henry Fulbrook Abbott sold 1,000 shares of the firm’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $85.20, for a total value of $85,200.00. Following the sale, the senior vice president now directly owns 8,501 shares of the company’s stock, valued at $724,285.20. This trade represents a 10.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 7.40% of the company’s stock.

Wall Street Analysts Forecast Growth

SFBS has been the subject of several recent research reports. StockNews.com lowered shares of ServisFirst Bancshares from a “hold” rating to a “sell” rating in a research note on Sunday, November 24th. Piper Sandler increased 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. Finally, Hovde Group lifted their target price on ServisFirst Bancshares from $80.00 to $91.00 and gave the stock a “market perform” rating in a report on Tuesday, October 22nd.

ServisFirst Bancshares Stock Performance

Shares of SFBS opened at $95.29 on Tuesday. ServisFirst Bancshares, Inc. has a one year low of $53.63 and a one year high of $101.37. The company has a 50-day moving average of $87.31 and a two-hundred day moving average of $76.59. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market cap of $5.20 billion, a price-to-earnings ratio of 25.48 and a beta of 0.86.

ServisFirst Bancshares (NYSE:SFBS) last posted its quarterly earnings data on Monday, October 21st. The financial services provider reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.13. The firm had revenue of $256.53 million during the quarter, compared to analyst estimates of $120.70 million. ServisFirst Bancshares had a net margin of 21.16% and a return on equity of 14.23%. During the same quarter last year, the business posted $0.98 EPS. On average, equities research analysts expect that ServisFirst Bancshares, Inc. will post 4.09 earnings per share for the current year.

ServisFirst Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Tuesday, October 1st were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend was Tuesday, October 1st. ServisFirst Bancshares’s payout ratio is 32.09%.

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.