ServisFirst Bancshares, Inc. (NYSE:SFBS) Shares Sold by Cedar Wealth Management LLC

Cedar Wealth Management LLC reduced its position in ServisFirst Bancshares, Inc. (NYSE:SFBS) by 5.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,450 shares of the financial services provider’s stock after selling 2,050 shares during the period. ServisFirst Bancshares makes up approximately 0.7% of Cedar Wealth Management LLC’s holdings, making the stock its 21st largest holding. Cedar Wealth Management LLC owned approximately 0.07% of ServisFirst Bancshares worth $2,240,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. US Bancorp DE lifted its stake in ServisFirst Bancshares by 0.9% in the first quarter. US Bancorp DE now owns 19,439 shares of the financial services provider’s stock valued at $1,290,000 after buying an additional 181 shares during the last quarter. Precision Wealth Strategies LLC raised its holdings in shares of ServisFirst Bancshares by 2.5% during the first quarter. Precision Wealth Strategies LLC now owns 7,868 shares of the financial services provider’s stock valued at $522,000 after acquiring an additional 191 shares during the period. Inspire Investing LLC lifted its position in ServisFirst Bancshares by 3.9% in the 2nd quarter. Inspire Investing LLC now owns 5,553 shares of the financial services provider’s stock worth $351,000 after buying an additional 206 shares in the last quarter. Texas Permanent School Fund Corp lifted its holdings in shares of ServisFirst Bancshares by 0.6% during the 2nd quarter. Texas Permanent School Fund Corp now owns 43,131 shares of the financial services provider’s stock valued at $2,725,000 after buying an additional 254 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its holdings in 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 in the last quarter. 67.31% of the stock is currently owned by institutional investors and hedge funds.

ServisFirst Bancshares Stock Up 3.9 %

Shares of NYSE SFBS opened at $86.25 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.94 and a current ratio of 0.94. ServisFirst Bancshares, Inc. has a 52-week low of $45.21 and a 52-week high of $86.46. The firm has a 50 day moving average price of $77.74 and a 200 day moving average price of $67.63. The stock has a market cap of $4.70 billion, a P/E ratio of 23.63 and a beta of 0.87.

ServisFirst Bancshares (NYSE:SFBS) last announced its quarterly earnings data on Monday, July 15th. The financial services provider reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.04. ServisFirst Bancshares had a net margin of 21.25% and a return on equity of 14.19%. The business had revenue of $114.77 million for the quarter, compared to analyst estimates of $114.80 million. Analysts expect that ServisFirst Bancshares, Inc. will post 3.82 EPS for the current year.

ServisFirst Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Tuesday, October 1st will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date of this dividend is Tuesday, October 1st. ServisFirst Bancshares’s dividend payout ratio is presently 32.88%.

Analyst Ratings Changes

SFBS has been the subject of a number of recent analyst reports. Piper Sandler raised their price target on ServisFirst Bancshares from $63.00 to $70.00 and gave the company a “neutral” rating in a research report on Tuesday, July 16th. Hovde Group raised their price target on shares of ServisFirst Bancshares from $68.00 to $76.00 and gave the stock a “market perform” rating in a research note 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.