Hovde Group Boosts ServisFirst Bancshares (NYSE:SFBS) Price Target to $91.00

ServisFirst Bancshares (NYSE:SFBS) had its price objective increased by Hovde Group from $80.00 to $91.00 in a report released on Tuesday morning, Marketbeat reports. They currently have a market perform rating on the financial services provider’s stock.

Separately, Piper Sandler boosted their price target on shares of ServisFirst Bancshares from $63.00 to $70.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 16th.

ServisFirst Bancshares Price Performance

SFBS opened at $85.01 on Tuesday. The firm has a market cap of $4.63 billion, a price-to-earnings ratio of 22.73 and a beta of 0.86. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.04. The stock’s 50-day moving average price is $80.39 and its 200 day moving average price is $70.71. ServisFirst Bancshares has a 12-month low of $45.21 and a 12-month high of $88.86.

ServisFirst Bancshares (NYSE:SFBS) last issued its quarterly earnings results on Monday, October 21st. The financial services provider reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.13. The business had revenue of $256.53 million for the quarter, compared to analysts’ expectations of $120.70 million. ServisFirst Bancshares had a net margin of 21.16% and a return on equity of 14.23%. During the same quarter in the prior year, the company earned $0.98 earnings per share. As a group, sell-side analysts expect that ServisFirst Bancshares will post 4.09 earnings per share for the current year.

ServisFirst Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Tuesday, October 1st were given a dividend of $0.30 per share. The ex-dividend date was Tuesday, October 1st. This represents a $1.20 annualized dividend and a dividend yield of 1.41%. ServisFirst Bancshares’s dividend payout ratio is currently 32.09%.

Insider Activity

In related news, COO Rodney Eldon Rushing sold 12,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $80.58, for a total transaction of $966,960.00. Following the completion of the sale, the chief operating officer now owns 307,837 shares in the company, valued at $24,805,505.46. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 7.40% of the company’s stock.

Institutional Investors Weigh In On ServisFirst Bancshares

Hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC boosted its stake in ServisFirst Bancshares by 138.6% in the third quarter. GAMMA Investing LLC now owns 921 shares of the financial services provider’s stock valued at $74,000 after acquiring an additional 535 shares in the last quarter. Quest Partners LLC lifted its holdings in shares of ServisFirst Bancshares by 4,880.0% in the 2nd quarter. Quest Partners LLC now owns 996 shares of the financial services provider’s stock valued at $63,000 after purchasing an additional 976 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of ServisFirst Bancshares in the 2nd quarter valued at about $84,000. Mechanics Bank Trust Department purchased a new position in ServisFirst Bancshares during the 3rd quarter worth approximately $225,000. Finally, LifeSteps Financial Inc. acquired a new position in ServisFirst Bancshares during the third quarter worth approximately $241,000. 67.31% of the stock is currently owned by institutional investors and hedge funds.

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.