Cottonwood Capital Advisors LLC Buys Shares of 2,763 ServisFirst Bancshares, Inc. (NYSE:SFBS)

Cottonwood Capital Advisors LLC purchased a new position in shares of ServisFirst Bancshares, Inc. (NYSE:SFBS) during the third quarter, Holdings Channel.com reports. The fund purchased 2,763 shares of the financial services provider’s stock, valued at approximately $222,000.

Several other hedge funds have also made changes to their positions in the business. Quest Partners LLC increased its stake in ServisFirst Bancshares by 4,880.0% during the 2nd quarter. Quest Partners LLC now owns 996 shares of the financial services provider’s stock worth $63,000 after buying an additional 976 shares during the period. GAMMA Investing LLC grew its stake in shares of 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 acquiring an additional 535 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of ServisFirst Bancshares during the second quarter worth $84,000. CIBC Asset Management Inc raised its stake in shares of ServisFirst Bancshares by 8.7% in the second quarter. CIBC Asset Management Inc now owns 3,328 shares of the financial services provider’s stock valued at $210,000 after acquiring an additional 267 shares in the last quarter. Finally, Bayesian Capital Management LP purchased a new position in ServisFirst Bancshares in the first quarter valued at $217,000. Institutional investors and hedge funds own 67.31% of the company’s stock.

Wall Street Analyst Weigh In

SFBS has been the topic of several recent research reports. Hovde Group upped their price target on ServisFirst Bancshares from $80.00 to $91.00 and gave the stock a “market perform” rating in a report on Tuesday, October 22nd. Piper Sandler upped their target price on shares of ServisFirst Bancshares from $76.00 to $79.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd.

Insider Activity

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 shares were sold at an average price of $80.58, for a total value of $966,960.00. Following the completion of the transaction, the chief operating officer now owns 307,837 shares in the company, valued at $24,805,505.46. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other ServisFirst Bancshares news, SVP Henry Fulbrook Abbott sold 1,000 shares of the firm’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $85.20, for a total transaction of $85,200.00. Following the transaction, the senior vice president now directly owns 8,501 shares of the company’s stock, valued at approximately $724,285.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Rodney Eldon Rushing sold 12,000 shares of the firm’s stock in a transaction dated 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 directly owns 307,837 shares in the company, valued at approximately $24,805,505.46. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 7.40% of the company’s stock.

ServisFirst Bancshares Stock Performance

Shares of SFBS stock opened at $95.98 on Monday. ServisFirst Bancshares, Inc. has a 12 month low of $46.06 and a 12 month high of $98.00. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.04. The company has a market cap of $5.24 billion, a P/E ratio of 25.66 and a beta of 0.86. The firm has a fifty day moving average price of $82.17 and a 200 day moving average price of $72.90.

ServisFirst Bancshares (NYSE:SFBS) last released its quarterly earnings data on Monday, October 21st. The financial services provider reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.13. The business had revenue of $256.53 million for the quarter, compared to the consensus estimate of $120.70 million. ServisFirst Bancshares had a return on equity of 14.23% and a net margin of 21.16%. During the same quarter in the prior year, the business posted $0.98 EPS. Sell-side analysts predict that ServisFirst Bancshares, Inc. will post 4.09 earnings per share for the current fiscal year.

ServisFirst Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Tuesday, October 1st were issued a dividend of $0.30 per share. The ex-dividend date was Tuesday, October 1st. This represents a $1.20 dividend on an annualized basis and a yield of 1.25%. ServisFirst Bancshares’s payout ratio is currently 32.09%.

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.