Principal Financial Group Inc. Has $81.86 Million Position in ServisFirst Bancshares, Inc. $SFBS

by · The Markets Daily

Principal Financial Group Inc. cut its stake in ServisFirst Bancshares, Inc. (NYSE:SFBS – Free Report) by 3.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,016,556 shares of the financial services provider’s stock after selling 41,001 shares during the quarter. Principal Financial Group Inc.’s holdings in ServisFirst Bancshares were worth $81,864,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Arizona State Retirement System grew its stake in ServisFirst Bancshares by 1.4% in the 3rd quarter. Arizona State Retirement System now owns 15,352 shares of the financial services provider’s stock valued at $1,236,000 after buying an additional 214 shares during the last quarter. AE Wealth Management LLC bought a new stake in shares of ServisFirst Bancshares during the third quarter worth approximately $215,000. Federated Hermes Inc. grew its position in shares of ServisFirst Bancshares by 33.0% in the third quarter. Federated Hermes Inc. now owns 92,376 shares of the financial services provider’s stock valued at $7,439,000 after purchasing an additional 22,937 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its position in shares of ServisFirst Bancshares by 15.0% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 7,574 shares of the financial services provider’s stock valued at $610,000 after purchasing an additional 990 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of ServisFirst Bancshares during the third quarter worth approximately $243,000. Institutional investors own 67.31% of the company’s stock.

ServisFirst Bancshares Price Performance

SFBS stock opened at $84.29 on Wednesday. The company has a 50 day simple moving average of $75.74 and a 200 day simple moving average of $77.83. The stock has a market cap of $4.60 billion, a price-to-earnings ratio of 16.66 and a beta of 0.94. ServisFirst Bancshares, Inc. has a 1 year low of $66.48 and a 1 year high of $93.89. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.97 and a quick ratio of 0.97.

ServisFirst Bancshares (NYSE:SFBS – Get Free Report) last issued its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.20. The business 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 16.36% and a net margin of 26.95%. Research analysts anticipate that ServisFirst Bancshares, Inc. will post 5.17 EPS for the current fiscal year.

ServisFirst Bancshares Increases Dividend

The business also recently declared 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 of this dividend 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 1.8%. ServisFirst Bancshares’s payout ratio is currently 30.04%.

Analyst Upgrades and Downgrades

SFBS has been the subject of several recent research reports. Zacks Research upgraded ServisFirst Bancshares from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 22nd. Piper Sandler raised ServisFirst Bancshares from a “neutral” rating to an “overweight” rating and set a $89.00 target price for the company in a report on Wednesday, January 21st. Weiss Ratings restated a “hold (c)” rating on shares of ServisFirst Bancshares in a research note on Monday, December 29th. Hovde Group raised shares of ServisFirst Bancshares from a “market perform” rating to an “outperform” rating and set a $89.00 price target on the stock in a research report on Friday, December 19th. Finally, Raymond James Financial raised shares of ServisFirst Bancshares from an “outperform” rating to a “strong-buy” rating and set a $95.00 price objective for the company in a report on Wednesday, January 21st. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, ServisFirst Bancshares currently has a consensus rating of “Buy” and an average price target of $91.00.

Check Out Our Latest Stock Report on ServisFirst Bancshares

ServisFirst Bancshares Company Profile

(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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