ServisFirst Bancshares (NYSE:SFBS) Announces Quarterly Earnings Results

ServisFirst Bancshares (NYSE:SFBS) released its quarterly earnings results on Monday. The financial services provider reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.13, Yahoo Finance reports. The company had revenue of $256.53 million for the quarter, compared to the consensus estimate of $120.70 million. ServisFirst Bancshares had a net margin of 21.25% and a return on equity of 14.19%. During the same period in the previous year, the firm earned $0.98 EPS.

ServisFirst Bancshares Stock Down 3.2 %

NYSE SFBS opened at $80.20 on Tuesday. ServisFirst Bancshares has a 12 month low of $45.21 and a 12 month high of $88.86. The company has a market capitalization of $4.37 billion, a P/E ratio of 22.91 and a beta of 0.86. The company’s 50 day simple moving average is $79.78 and its 200 day simple moving average is $70.36. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.94 and a quick ratio of 0.94.

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 paid a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $1.20 annualized dividend and a dividend yield of 1.50%. ServisFirst Bancshares’s dividend payout ratio is currently 33.15%.

Insider Buying and Selling

In other ServisFirst Bancshares news, COO Rodney Eldon Rushing sold 12,000 shares of the company’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $80.58, for a total value of $966,960.00. Following the transaction, the chief operating officer now owns 307,837 shares of the company’s stock, valued at approximately $24,805,505.46. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 7.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on SFBS shares. Hovde Group boosted their target price on ServisFirst Bancshares from $80.00 to $91.00 and gave the stock a “market perform” rating in a report on Tuesday. Piper Sandler lifted their price target on ServisFirst Bancshares from $63.00 to $70.00 and gave the company a “neutral” rating in a research report on Tuesday, July 16th.

About ServisFirst Bancshares

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.