ServisFirst Bancshares (NYSE:SFBS) Issues Quarterly Earnings Results

by · The Cerbat Gem

ServisFirst Bancshares (NYSE:SFBS – Get Free Report) posted its quarterly earnings data on Tuesday. The financial services provider reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.17, FiscalAI reports. The company had revenue of $162.21 million for the quarter, compared to analyst estimates of $151.82 million. ServisFirst Bancshares had a return on equity of 15.67% and a net margin of 25.24%.

ServisFirst Bancshares Stock Performance

Shares of SFBS stock traded down $1.91 during trading on Tuesday, reaching $76.36. 234,523 shares of the company’s stock traded hands, compared to its average volume of 220,485. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $4.17 billion, a P/E ratio of 16.35 and a beta of 0.93. ServisFirst Bancshares has a 1 year low of $66.48 and a 1 year high of $93.90. The firm’s 50-day moving average is $73.00 and its 200 day moving average is $77.80.

ServisFirst Bancshares Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 13th. Stockholders of record on Friday, January 2nd were paid a $0.38 dividend. The ex-dividend date was Friday, January 2nd. This is a positive change from ServisFirst Bancshares’s previous quarterly dividend of $0.34. This represents a $1.52 annualized dividend and a dividend yield of 2.0%. ServisFirst Bancshares’s dividend payout ratio is 32.55%.

Institutional Trading of ServisFirst Bancshares

Several large investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada raised its stake in ServisFirst Bancshares by 17.2% during the first quarter. Royal Bank of Canada now owns 16,815 shares of the financial services provider’s stock valued at $1,390,000 after purchasing an additional 2,465 shares in the last quarter. AQR Capital Management LLC grew its holdings in ServisFirst Bancshares by 70.9% during the 1st quarter. AQR Capital Management LLC now owns 8,989 shares of the financial services provider’s stock worth $742,000 after acquiring an additional 3,730 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of ServisFirst Bancshares by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,194 shares of the financial services provider’s stock worth $2,494,000 after purchasing an additional 1,308 shares during the period. Millennium Management LLC increased its holdings in shares of ServisFirst Bancshares by 107.3% in the 1st quarter. Millennium Management LLC now owns 146,442 shares of the financial services provider’s stock valued at $12,096,000 after acquiring an additional 75,799 shares during the period. Finally, Caxton Associates LLP bought a new stake in shares of ServisFirst Bancshares in the 1st quarter valued at about $204,000. Institutional investors own 67.31% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of ServisFirst Bancshares in a research report on Monday, December 29th. Hovde Group upgraded ServisFirst Bancshares from a “market perform” rating to an “outperform” rating and set a $89.00 price target for the company in a research note on Friday, December 19th. Zacks Research raised shares of ServisFirst Bancshares from a “strong sell” rating to a “hold” rating in a report on Friday, December 19th. Piper Sandler reduced their target price on ServisFirst Bancshares from $90.00 to $80.00 and set a “neutral” rating on the stock in a report on Tuesday, October 21st. Finally, Raymond James Financial raised shares of ServisFirst Bancshares from a “market perform” rating to an “outperform” rating and set a $95.00 target price on the stock in a research note on Tuesday, October 7th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $88.00.

Check Out Our Latest Stock Report on SFBS

About ServisFirst Bancshares

(Get 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.

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