Thrivent Financial for Lutherans Has $3.87 Million Position in ServisFirst Bancshares, Inc. (NYSE:SFBS)

Thrivent Financial for Lutherans lifted its holdings in shares of ServisFirst Bancshares, Inc. (NYSE:SFBS) by 6.2% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 48,055 shares of the financial services provider’s stock after buying an additional 2,794 shares during the period. Thrivent Financial for Lutherans owned about 0.09% of ServisFirst Bancshares worth $3,866,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of SFBS. Vanguard Group Inc. increased its position in ServisFirst Bancshares by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 5,699,645 shares of the financial services provider’s stock worth $378,228,000 after purchasing an additional 221,507 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its position in ServisFirst Bancshares by 12.8% in the first quarter. CANADA LIFE ASSURANCE Co now owns 44,260 shares of the financial services provider’s stock valued at $2,934,000 after purchasing an additional 5,026 shares during the last quarter. Bayesian Capital Management LP acquired a new stake in shares of ServisFirst Bancshares during the first quarter valued at about $217,000. XML Financial LLC bought a new stake in shares of ServisFirst Bancshares during the first quarter worth about $664,000. Finally, Cetera Investment Advisers acquired a new position in shares of ServisFirst Bancshares in the first quarter valued at approximately $2,125,000. 67.31% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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

ServisFirst Bancshares Price Performance

Shares of SFBS opened at $96.64 on Monday. The firm has a market cap of $5.27 billion, a PE ratio of 25.84 and a beta of 0.86. ServisFirst Bancshares, Inc. has a 52-week low of $49.72 and a 52-week high of $100.14. The business’s 50 day moving average price is $85.65 and its two-hundred day moving average price is $75.17. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.95 and a current ratio of 0.95.

ServisFirst Bancshares (NYSE:SFBS) last posted its quarterly earnings results 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. ServisFirst Bancshares had a net margin of 21.16% and a return on equity of 14.23%. The business had revenue of $256.53 million during the quarter, compared to analysts’ expectations of $120.70 million. During the same period last year, the company posted $0.98 earnings per share. On average, equities analysts anticipate that ServisFirst Bancshares, Inc. will post 4.09 EPS for the current year.

ServisFirst Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Tuesday, October 1st were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend was Tuesday, October 1st. ServisFirst Bancshares’s dividend payout ratio (DPR) is currently 32.09%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on SFBS shares. Piper Sandler boosted their price objective on shares of ServisFirst Bancshares from $76.00 to $79.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. StockNews.com lowered ServisFirst Bancshares from a “hold” rating to a “sell” rating in a research note on Sunday. Finally, Hovde Group boosted their target price on shares of 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 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.