Wells Fargo & Company MN cut its holdings in ServisFirst Bancshares, Inc. (NASDAQ:SFBS) by 30.8% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 66,177 shares of the financial services provider’s stock after selling 29,423 shares during the quarter. Wells Fargo & Company MN’s holdings in ServisFirst Bancshares were worth $2,570,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in SFBS. Riverhead Capital Management LLC boosted its position in shares of ServisFirst Bancshares by 135.2% in the 2nd quarter. Riverhead Capital Management LLC now owns 3,763 shares of the financial services provider’s stock worth $139,000 after buying an additional 2,163 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of ServisFirst Bancshares in the 3rd quarter worth about $146,000. Flinton Capital Management LLC boosted its position in shares of ServisFirst Bancshares by 124.2% in the 2nd quarter. Flinton Capital Management LLC now owns 4,144 shares of the financial services provider’s stock worth $153,000 after buying an additional 2,296 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of ServisFirst Bancshares by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 4,229 shares of the financial services provider’s stock worth $156,000 after buying an additional 633 shares in the last quarter. Finally, Welch Investments LLC purchased a new stake in shares of ServisFirst Bancshares in the 3rd quarter worth about $202,000. Institutional investors and hedge funds own 43.15% of the company’s stock.
Several equities research analysts recently commented on SFBS shares. Zacks Investment Research upgraded shares of ServisFirst Bancshares from a “hold” rating to a “buy” rating and set a $47.00 price objective on the stock in a research report on Saturday. BidaskClub lowered shares of ServisFirst Bancshares from a “buy” rating to a “hold” rating in a research report on Saturday, December 9th.
ServisFirst Bancshares, Inc. (NASDAQ SFBS) opened at $41.42 on Friday. The stock has a market cap of $2,194.39, a PE ratio of 23.80 and a beta of 1.41. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.09. ServisFirst Bancshares, Inc. has a 1-year low of $32.54 and a 1-year high of $44.00.
ServisFirst Bancshares (NASDAQ:SFBS) last released its earnings results on Monday, October 16th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.02. The company had revenue of $63.19 million for the quarter, compared to analyst estimates of $64.08 million. ServisFirst Bancshares had a net margin of 35.08% and a return on equity of 16.84%. equities research analysts predict that ServisFirst Bancshares, Inc. will post 1.73 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, January 12th. Shareholders of record on Tuesday, January 2nd were issued a $0.05 dividend. The ex-dividend date was Friday, December 29th. This represents a $0.20 dividend on an annualized basis and a yield of 0.48%. ServisFirst Bancshares’s dividend payout ratio (DPR) is 11.49%.
In other ServisFirst Bancshares news, EVP G. Carlton Barker sold 10,000 shares of the company’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $42.25, for a total value of $422,500.00. Following the transaction, the executive vice president now directly owns 126,462 shares in the company, valued at approximately $5,343,019.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO William M. Foshee sold 18,000 shares of the company’s stock in a transaction dated Wednesday, October 25th. The shares were sold at an average price of $40.70, for a total transaction of $732,600.00. Following the completion of the transaction, the chief financial officer now owns 289,502 shares in the company, valued at $11,782,731.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 61,000 shares of company stock worth $2,497,540. 14.04% of the stock is owned by insiders.
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ServisFirst Bancshares Company Profile
ServisFirst Bancshares, Inc is a bank holding company whose business is conducted by its subsidiary, ServisFirst Bank (the Bank). The Company’s principal business is to accept deposits from the public and to make loans and other investments. The Company, through its bank, originates commercial, consumer and other loans; accept deposits; provides electronic banking services, such as online and mobile banking, including remote deposit capture, deliver treasury and cash management services, and provides correspondent banking services to other financial institutions.
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