ServisFirst Bancshares (NASDAQ:SFBS) Announces Earnings Results

ServisFirst Bancshares (NASDAQ:SFBS – Get Rating) posted its earnings results on Monday. The financial services provider reported $1.24 EPS for the quarter, meeting analysts’ consensus estimates of $1.24, Yahoo Finance reports. ServisFirst Bancshares had a net margin of 42.44% and a return on equity of 20.48%. The company had revenue of $177.24 million for the quarter, compared to analysts’ expectations of $138.50 million.

ServisFirst Bancshares Stock Down 9.9 %

Shares of SFBS opened at $64.82 on Wednesday. The stock has a market capitalization of $3.52 billion, a PE ratio of 15.84 and a beta of 0.92. ServisFirst Bancshares has a 1 year low of $63.53 and a 1 year high of $97.25. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.93 and a current ratio of 0.93. The company’s 50-day simple moving average is $71.20 and its 200-day simple moving average is $78.28.

ServisFirst Bancshares Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 6th. Stockholders of record on Tuesday, January 3rd were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 1.73%. The ex-dividend date of this dividend was Friday, December 30th. This is a boost from ServisFirst Bancshares’s previous quarterly dividend of $0.23. ServisFirst Bancshares’s dividend payout ratio is currently 25.69%.

Institutional Trading of ServisFirst Bancshares

Several hedge funds have recently made changes to their positions in the business. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of ServisFirst Bancshares during the third quarter worth about $1,135,000. Balyasny Asset Management LLC acquired a new position in ServisFirst Bancshares during the 3rd quarter worth approximately $1,130,000. Jane Street Group LLC grew its holdings in ServisFirst Bancshares by 437.1% during the 3rd quarter. Jane Street Group LLC now owns 15,967 shares of the financial services provider’s stock worth $1,277,000 after acquiring an additional 12,994 shares in the last quarter. BNP Paribas Arbitrage SNC grew its holdings in ServisFirst Bancshares by 17.8% during the 3rd quarter. BNP Paribas Arbitrage SNC now owns 18,246 shares of the financial services provider’s stock worth $1,460,000 after acquiring an additional 2,759 shares in the last quarter. Finally, Algert Global LLC grew its holdings in ServisFirst Bancshares by 43.5% during the 3rd quarter. Algert Global LLC now owns 14,369 shares of the financial services provider’s stock worth $1,150,000 after acquiring an additional 4,355 shares in the last quarter. Institutional investors and hedge funds own 63.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on SFBS. Piper Sandler decreased their target price on shares of ServisFirst Bancshares from $72.00 to $67.00 and set a “neutral” rating on the stock in a research report on Tuesday. StockNews.com cut shares of ServisFirst Bancshares from a “hold” rating to a “sell” rating in a research report on Thursday, December 15th.

ServisFirst Bancshares Company Profile

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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, such as 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.