Navigate Wealth Management LLC purchased a new stake in ServisFirst Bancshares, Inc. (NYSE:SFBS – Free Report) in the first quarter, according to its most recent filing with the SEC. The fund purchased 11,786 shares of the financial services provider’s stock, valued at approximately $932,000.
Several other institutional investors and hedge funds have also made changes to their positions in SFBS. JPMorgan Chase & Co. increased its stake in ServisFirst Bancshares by 26.2% during the third quarter. JPMorgan Chase & Co. now owns 962,164 shares of the financial services provider’s stock valued at $77,483,000 after purchasing an additional 199,772 shares during the last quarter. Welch Group LLC lifted its position in shares of ServisFirst Bancshares by 2.0% in the 4th 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. Deprince Race & Zollo Inc. boosted its holdings in shares of ServisFirst Bancshares by 4.3% in the 4th quarter. Deprince Race & Zollo Inc. now owns 536,197 shares of the financial services provider’s stock valued at $38,494,000 after buying an additional 21,994 shares during the period. BCR Wealth Strategies LLC acquired a new position in shares of ServisFirst Bancshares in the 4th quarter valued at about $610,000. Finally, SG Americas Securities LLC grew its position in shares of ServisFirst Bancshares by 600.5% during the 4th quarter. SG Americas Securities LLC now owns 76,232 shares of the financial services provider’s stock valued at $5,473,000 after buying an additional 65,349 shares during the last quarter. 67.31% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
SFBS has been the topic of several research reports. Piper Sandler increased their price objective 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 downgraded ServisFirst Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 23rd. Finally, Weiss Ratings raised ServisFirst Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, ServisFirst Bancshares currently has an average rating of “Buy” and an average price target of $94.33.
ServisFirst Bancshares Price Performance
NYSE SFBS opened at $85.33 on Monday. The company has a 50-day moving average price of $80.63 and a two-hundred day moving average price of $79.11. ServisFirst Bancshares, Inc. has a 52 week low of $67.20 and a 52 week high of $90.64. The stock has a market cap of $4.66 billion, a price-to-earnings ratio of 15.74 and a beta of 0.86. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.02.
ServisFirst Bancshares (NYSE:SFBS – Get Free Report) last released its quarterly earnings results on Monday, April 20th. The financial services provider reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.53 by $0.01. The company had revenue of $158.99 million for the quarter, compared to analysts’ expectations of $162.07 million. ServisFirst Bancshares had a return on equity of 16.95% and a net margin of 28.80%. Analysts forecast that ServisFirst Bancshares, Inc. will post 6.4 EPS for the current year.
ServisFirst Bancshares Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Wednesday, July 1st were given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 1.8%. The ex-dividend date was Wednesday, July 1st. ServisFirst Bancshares’s dividend payout ratio (DPR) is currently 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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