LifeSteps Financial Inc. Takes Position in ServisFirst Bancshares, Inc. (NYSE:SFBS)

by · The Markets Daily

LifeSteps Financial Inc. acquired a new position in ServisFirst Bancshares, Inc. (NYSE:SFBS – Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 3,000 shares of the financial services provider’s stock, valued at approximately $241,000.

Several other institutional investors and hedge funds also recently bought and sold shares of SFBS. Quest Partners LLC grew its position in shares of ServisFirst Bancshares by 4,880.0% during the second quarter. Quest Partners LLC now owns 996 shares of the financial services provider’s stock worth $63,000 after purchasing an additional 976 shares in the last quarter. GAMMA Investing LLC raised its holdings in ServisFirst Bancshares by 138.6% in the third quarter. GAMMA Investing LLC now owns 921 shares of the financial services provider’s stock worth $74,000 after purchasing an additional 535 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in ServisFirst Bancshares during the second quarter valued at approximately $84,000. CIBC Asset Management Inc boosted its position in shares of ServisFirst Bancshares by 8.7% in the 2nd quarter. CIBC Asset Management Inc now owns 3,328 shares of the financial services provider’s stock worth $210,000 after purchasing an additional 267 shares in the last quarter. Finally, Bayesian Capital Management LP purchased a new stake in shares of ServisFirst Bancshares during the first quarter worth about $217,000. 67.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on SFBS. Piper Sandler boosted their price objective on shares of ServisFirst Bancshares from $63.00 to $70.00 and gave the company a “neutral” rating in a report on Tuesday, July 16th. Hovde Group increased their price objective on shares of ServisFirst Bancshares from $68.00 to $76.00 and gave the company a “market perform” rating in a report on Tuesday, July 16th.

Read Our Latest Research Report on SFBS

ServisFirst Bancshares Trading Down 0.5 %

Shares of SFBS traded down $0.41 during midday trading on Thursday, reaching $87.21. The company had a trading volume of 43,620 shares, compared to its average volume of 197,909. ServisFirst Bancshares, Inc. has a 1-year low of $45.21 and a 1-year high of $88.86. The stock has a market cap of $4.75 billion, a PE ratio of 24.23 and a beta of 0.86. The firm has a 50 day simple moving average of $79.05 and a 200-day simple moving average of $69.85. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.04.

ServisFirst Bancshares (NYSE:SFBS – Get Free Report) last announced its quarterly earnings results on Monday, July 15th. The financial services provider reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.04. The business had revenue of $114.77 million during the quarter, compared to analysts’ expectations of $114.80 million. ServisFirst Bancshares had a net margin of 21.25% and a return on equity of 14.19%. Research analysts forecast that ServisFirst Bancshares, Inc. will post 3.88 EPS for the current fiscal year.

ServisFirst Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Tuesday, October 1st were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date of this dividend was Tuesday, October 1st. ServisFirst Bancshares’s dividend payout ratio (DPR) is currently 33.15%.

Insider Activity

In other news, COO Rodney Eldon Rushing sold 12,000 shares of ServisFirst Bancshares stock in a transaction on Wednesday, September 18th. The shares were 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 directly owns 307,837 shares of the company’s stock, valued at approximately $24,805,505.46. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 7.40% of the company’s stock.

ServisFirst Bancshares Profile

(Free Report)

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.

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