ServisFirst Bancshares, Inc. $SFBS Stock Position Lowered by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. decreased its position in ServisFirst Bancshares, Inc. (NYSE:SFBS) by 8.7% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 150,032 shares of the financial services provider’s stock after selling 14,382 shares during the period. Envestnet Asset Management Inc.’s holdings in ServisFirst Bancshares were worth $11,629,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Ameritas Advisory Services LLC purchased a new stake in shares of ServisFirst Bancshares in the second quarter worth approximately $30,000. Quarry LP grew its position in ServisFirst Bancshares by 52.8% during the first quarter. Quarry LP now owns 544 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 188 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in ServisFirst Bancshares in the 1st quarter valued at approximately $171,000. Caxton Associates LLP purchased a new stake in ServisFirst Bancshares in the 1st quarter worth approximately $204,000. Finally, Moody National Bank Trust Division boosted its stake in shares of ServisFirst Bancshares by 5.6% during the 2nd quarter. Moody National Bank Trust Division now owns 3,000 shares of the financial services provider’s stock valued at $233,000 after buying an additional 160 shares during the period. 67.31% of the stock is owned by institutional investors and hedge funds.

Insider Activity at ServisFirst Bancshares

In related news, CEO Thomas A. Broughton sold 22,206 shares of the firm’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $87.99, for a total value of $1,953,905.94. Following the completion of the transaction, the chief executive officer directly owned 592,588 shares of the company’s stock, valued at $52,141,818.12. This trade represents a 3.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 6.70% of the company’s stock.

Wall Street Analysts Forecast Growth

SFBS has been the subject of a number of research reports. Weiss Ratings reissued a “hold (c+)” rating on shares of ServisFirst Bancshares in a research report on Wednesday, October 8th. Raymond James Financial upgraded ServisFirst Bancshares from a “market perform” rating to an “outperform” rating and set a $95.00 price target for the company in a report on Tuesday, October 7th. Zacks Research downgraded ServisFirst Bancshares from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 22nd. Piper Sandler cut their price objective on shares of ServisFirst Bancshares from $90.00 to $80.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 21st. Finally, Hovde Group decreased their target price on shares of ServisFirst Bancshares from $92.00 to $85.00 and set a “market perform” rating for the company in a research report on Tuesday, October 21st. One analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $86.67.

ServisFirst Bancshares Stock Performance

SFBS opened at $71.67 on Friday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.04. The stock’s 50 day moving average price is $79.12 and its two-hundred day moving average price is $78.45. The firm has a market capitalization of $3.91 billion, a P/E ratio of 15.35 and a beta of 0.87. ServisFirst Bancshares, Inc. has a 12-month low of $66.48 and a 12-month high of $101.37.

ServisFirst Bancshares (NYSE:SFBS) last released its earnings results on Tuesday, August 10th. The financial services provider reported $1.07 EPS for the quarter. The firm had revenue of $104.27 million during the quarter. ServisFirst Bancshares had a net margin of 25.24% and a return on equity of 15.67%. On average, equities analysts forecast that ServisFirst Bancshares, Inc. will post 5.17 earnings per share for the current year.

ServisFirst Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Wednesday, October 1st were given a dividend of $0.335 per share. The ex-dividend date was Wednesday, October 1st. This represents a $1.34 dividend on an annualized basis and a dividend yield of 1.9%. ServisFirst Bancshares’s payout ratio is currently 28.69%.

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.