Peregrine Capital Management LLC acquired a new stake in ServisFirst Bancshares, Inc. (NYSE:SFBS – Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 64,980 shares of the financial services provider’s stock, valued at approximately $4,732,000.
Several other large investors have also recently made changes to their positions in SFBS. Vanguard Group Inc. raised its stake in shares of ServisFirst Bancshares by 3.3% during the 4th quarter. Vanguard Group Inc. now owns 6,081,945 shares of the financial services provider’s stock worth $436,623,000 after purchasing an additional 196,248 shares during the period. State Street Corp grew its position in ServisFirst Bancshares by 3.5% during the fourth quarter. State Street Corp now owns 2,463,986 shares of the financial services provider’s stock valued at $176,890,000 after buying an additional 82,912 shares during the period. JPMorgan Chase & Co. grew its position in ServisFirst Bancshares by 12.2% during the fourth quarter. JPMorgan Chase & Co. now owns 1,079,628 shares of the financial services provider’s stock valued at $77,506,000 after buying an additional 117,464 shares during the period. Welch Group LLC increased its holdings in ServisFirst Bancshares by 2.0% during the fourth quarter. Welch Group LLC now owns 1,003,503 shares of the financial services provider’s stock worth $72,041,000 after buying an additional 19,727 shares during the last quarter. Finally, NewEdge Advisors LLC increased its holdings in ServisFirst Bancshares by 307,426.8% during the fourth quarter. NewEdge Advisors LLC now owns 919,505 shares of the financial services provider’s stock worth $66,011,000 after buying an additional 919,206 shares during the last quarter. 67.31% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of research analysts have weighed in on SFBS shares. Weiss Ratings upgraded shares of ServisFirst Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, June 1st. 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 research note on Tuesday, April 21st. Zacks Research cut shares of ServisFirst Bancshares from a “strong-buy” rating to a “hold” rating in a report on Monday, March 23rd. Finally, Wall Street Zen upgraded ServisFirst Bancshares from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, ServisFirst Bancshares currently has an average rating of “Buy” and a consensus target price of $94.33.
ServisFirst Bancshares Stock Performance
NYSE SFBS opened at $88.84 on Thursday. The company’s 50 day moving average is $79.67 and its 200-day moving average is $78.52. ServisFirst Bancshares, Inc. has a 12-month low of $67.20 and a 12-month high of $90.64. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.02. The firm has a market cap of $4.86 billion, a P/E ratio of 16.39 and a beta of 0.86.
ServisFirst Bancshares (NYSE:SFBS – Get Free Report) last issued its quarterly earnings data on Monday, April 20th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.53 by $0.01. ServisFirst Bancshares had a return on equity of 16.95% and a net margin of 28.80%.The business had revenue of $158.99 million for the quarter, compared to analysts’ expectations of $162.07 million. Sell-side analysts predict that ServisFirst Bancshares, Inc. will post 6.4 earnings per share for the current year.
ServisFirst Bancshares Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Wednesday, July 1st will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Wednesday, July 1st. ServisFirst Bancshares’s dividend payout ratio (DPR) is 28.04%.
About ServisFirst Bancshares
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.
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