Point72 DIFC Ltd Invests $32,000 in ServisFirst Bancshares, Inc. (NYSE:SFBS)

Point72 DIFC Ltd acquired a new stake in ServisFirst Bancshares, Inc. (NYSE:SFBS) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 403 shares of the financial services provider’s stock, valued at approximately $32,000.

A number of other hedge funds have also recently added to or reduced their stakes in SFBS. GAMMA Investing LLC boosted its position in shares of ServisFirst Bancshares by 138.6% during the 3rd 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. Quest Partners LLC boosted its holdings in 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 buying an additional 976 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in ServisFirst Bancshares during the second quarter worth about $84,000. LMR Partners LLP purchased a new position in ServisFirst Bancshares in the third quarter valued at about $203,000. Finally, Verition Fund Management LLC acquired a new stake in shares of ServisFirst Bancshares during the 3rd quarter valued at approximately $208,000. Institutional investors and hedge funds own 67.31% of the company’s stock.

Insider Transactions at ServisFirst Bancshares

In other news, SVP Henry Fulbrook Abbott sold 1,000 shares of ServisFirst Bancshares stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $85.20, for a total value of $85,200.00. Following the completion of the sale, the senior vice president now owns 8,501 shares of the company’s stock, valued at $724,285.20. The trade was a 10.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Rodney Eldon Rushing sold 12,000 shares of the 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 owns 307,837 shares in the company, valued at $24,805,505.46. This trade represents a 3.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 7.40% of the company’s stock.

ServisFirst Bancshares Trading Up 0.2 %

Shares of ServisFirst Bancshares stock opened at $94.61 on Wednesday. ServisFirst Bancshares, Inc. has a 1 year low of $55.83 and a 1 year high of $101.37. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.95 and a quick ratio of 0.95. The business has a 50 day moving average price of $89.18 and a 200 day moving average price of $77.88. The company has a market capitalization of $5.16 billion, a P/E ratio of 25.30 and a beta of 0.88.

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

ServisFirst Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Tuesday, October 1st were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $1.20 annualized dividend and a dividend yield of 1.27%. ServisFirst Bancshares’s dividend payout ratio is currently 32.09%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. StockNews.com cut ServisFirst Bancshares from a “hold” rating to a “sell” rating in a report on Sunday, November 24th. Hovde Group raised their price target on ServisFirst Bancshares from $80.00 to $91.00 and gave the company a “market perform” rating in a research report on Tuesday, October 22nd. Finally, Piper Sandler boosted their price objective on shares of ServisFirst Bancshares from $76.00 to $79.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd.

ServisFirst Bancshares Company Profile

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.