Hovde Group Increases ServisFirst Bancshares (NYSE:SFBS) Price Target to $91.00

ServisFirst Bancshares (NYSE:SFBS) had its price objective hoisted by equities researchers at Hovde Group from $80.00 to $91.00 in a research note issued on Tuesday, MarketBeat Ratings reports. The brokerage currently has a “market perform” rating on the financial services provider’s stock. Hovde Group’s price objective would indicate a potential upside of 8.10% from the stock’s current price.

Separately, Piper Sandler raised their price target on ServisFirst Bancshares from $63.00 to $70.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 16th.

ServisFirst Bancshares Stock Performance

NYSE:SFBS opened at $84.18 on Tuesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.94 and a quick ratio of 0.94. The firm has a market cap of $4.59 billion, a PE ratio of 23.25 and a beta of 0.86. The firm has a 50 day simple moving average of $80.20 and a 200-day simple moving average of $70.61. ServisFirst Bancshares has a 1-year low of $45.21 and a 1-year high of $88.86.

ServisFirst Bancshares (NYSE:SFBS) last issued its quarterly earnings results on Monday, October 21st. The financial services provider reported $1.10 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.13. ServisFirst Bancshares had a return on equity of 14.19% and a net margin of 21.25%. The company had revenue of $256.53 million during the quarter, compared to the consensus estimate of $120.70 million. During the same period in the previous year, the firm posted $0.98 EPS. On average, equities analysts expect that ServisFirst Bancshares will post 3.88 EPS for the current year.

Insiders Place Their Bets

In other news, COO Rodney Eldon Rushing sold 12,000 shares of ServisFirst Bancshares 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 directly owns 307,837 shares of the company’s stock, 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 this link. 7.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On ServisFirst Bancshares

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in 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 valued at $378,228,000 after purchasing an additional 221,507 shares in the last quarter. Champlain Investment Partners LLC raised its holdings in shares of ServisFirst Bancshares by 34.0% during the 1st quarter. Champlain Investment Partners LLC now owns 1,438,872 shares of the financial services provider’s stock valued at $95,484,000 after buying an additional 364,720 shares during the period. Dimensional Fund Advisors LP lifted its position in ServisFirst Bancshares by 3.0% during 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 acquiring an additional 36,302 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in 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 acquiring an additional 43,125 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in ServisFirst Bancshares by 1.6% in 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 acquiring an additional 7,450 shares during the period. Hedge funds and other institutional investors 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.