Davis Asset Management L.P. Purchases 111,814 Shares of ServisFirst Bancshares, Inc. $SFBS

Davis Asset Management L.P. boosted its position in ServisFirst Bancshares, Inc. (NYSE:SFBSFree Report) by 14.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 875,376 shares of the financial services provider’s stock after acquiring an additional 111,814 shares during the period. ServisFirst Bancshares accounts for 2.3% of Davis Asset Management L.P.’s holdings, making the stock its 16th largest holding. Davis Asset Management L.P.’s holdings in ServisFirst Bancshares were worth $62,843,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in SFBS. Norges Bank bought a new stake in ServisFirst Bancshares in the 4th quarter worth $47,908,000. First Trust Advisors LP grew its holdings in ServisFirst Bancshares by 61.6% in the 3rd quarter. First Trust Advisors LP now owns 528,011 shares of the financial services provider’s stock worth $42,521,000 after acquiring an additional 201,309 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in ServisFirst Bancshares by 26.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 962,164 shares of the financial services provider’s stock worth $77,483,000 after acquiring an additional 199,772 shares during the last quarter. Vanguard Group Inc. grew its holdings in ServisFirst Bancshares by 3.3% in the 4th quarter. Vanguard Group Inc. now owns 6,081,945 shares of the financial services provider’s stock worth $436,623,000 after acquiring an additional 196,248 shares during the last quarter. Finally, Wasatch Advisors LP grew its holdings in ServisFirst Bancshares by 31.6% in the 3rd quarter. Wasatch Advisors LP now owns 667,781 shares of the financial services provider’s stock worth $53,776,000 after acquiring an additional 160,465 shares during the last quarter. Institutional investors own 67.31% of the company’s stock.

ServisFirst Bancshares Trading Up 1.2%

Shares of SFBS opened at $82.56 on Friday. ServisFirst Bancshares, Inc. has a 1-year low of $67.20 and a 1-year high of $90.64. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.02. The firm’s 50-day moving average price is $77.76 and its 200-day moving average price is $77.42. The firm has a market capitalization of $4.51 billion, a price-to-earnings ratio of 15.23 and a beta of 0.88.

ServisFirst Bancshares (NYSE:SFBSGet Free Report) last posted its quarterly earnings data on Monday, April 20th. The financial services provider reported $1.54 EPS for the quarter, topping the consensus estimate of $1.53 by $0.01. ServisFirst Bancshares had a net margin of 28.80% and a return on equity of 16.95%. The business had revenue of $158.99 million for the quarter, compared to analyst estimates of $162.07 million. Sell-side analysts anticipate that ServisFirst Bancshares, Inc. will post 6.4 EPS for the current year.

ServisFirst Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 13th. Investors of record on Wednesday, April 1st were paid a dividend of $0.38 per share. The ex-dividend date of this dividend was Wednesday, April 1st. This represents a $1.52 annualized dividend and a yield of 1.8%. ServisFirst Bancshares’s payout ratio is presently 28.04%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Zacks Research lowered shares of ServisFirst Bancshares from a “strong-buy” rating to a “hold” rating in a report on Monday, March 23rd. Piper Sandler raised their price target on shares of ServisFirst Bancshares from $89.00 to $91.00 and gave the stock an “overweight” rating in a report on Tuesday, April 21st. Weiss Ratings raised shares of ServisFirst Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, June 1st. Wall Street Zen raised shares of ServisFirst Bancshares from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Finally, Hovde Group raised their price target on shares of ServisFirst Bancshares from $92.00 to $97.00 and gave the stock an “outperform” rating in a report on Friday, February 27th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $94.33.

View Our Latest Analysis on SFBS

ServisFirst Bancshares Profile

(Free Report)

ServisFirst Bancshares, Inc is a bank holding company headquartered in Birmingham, Alabama, and the parent of ServisFirst Bank. The company specializes in commercial banking services, catering primarily to small and mid-sized businesses, professionals and entrepreneurs. Its product portfolio encompasses commercial real estate lending, commercial and industrial loans, deposit accounts, treasury management and other ancillary banking products designed to meet the financial needs of its clients.

ServisFirst Bank offers a full suite of deposit products, including interest-bearing checking, money market accounts and certificates of deposit, as well as a variety of loan products.

See Also

Want to see what other hedge funds are holding SFBS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ServisFirst Bancshares, Inc. (NYSE:SFBSFree Report).

Institutional Ownership by Quarter for ServisFirst Bancshares (NYSE:SFBS)

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