ServisFirst Bancshares (NYSE:SFBS) Upgraded at StockNews.com

ServisFirst Bancshares (NYSE:SFBS) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Sunday.

A number of other equities analysts also recently commented on SFBS. Piper Sandler lifted their price objective on ServisFirst Bancshares from $76.00 to $79.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Hovde Group lifted 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.

ServisFirst Bancshares Price Performance

ServisFirst Bancshares stock opened at $85.00 on Friday. The stock has a market capitalization of $4.64 billion, a P/E ratio of 22.73 and a beta of 0.91. The company’s fifty day moving average price is $91.25 and its 200 day moving average price is $81.55. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.95 and a current ratio of 0.95. ServisFirst Bancshares has a 1 year low of $58.05 and a 1 year high of $101.37.

ServisFirst Bancshares (NYSE:SFBS) last announced its earnings results 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. ServisFirst Bancshares had a return on equity of 14.23% and a net margin of 21.16%. The business had revenue of $256.53 million during the quarter, compared to analysts’ expectations of $120.70 million. During the same quarter in the prior year, the firm earned $0.98 earnings per share. As a group, equities research analysts anticipate that ServisFirst Bancshares will post 4.09 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other ServisFirst Bancshares news, SVP Henry Fulbrook Abbott sold 1,000 shares of the firm’s stock in a transaction that occurred 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 sale, the senior vice president now owns 8,501 shares of the company’s stock, valued at approximately $724,285.20. This trade represents a 10.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 7.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On ServisFirst Bancshares

A number of hedge funds have recently modified their holdings of SFBS. Point72 DIFC Ltd acquired a new stake in ServisFirst Bancshares in the third quarter valued at about $32,000. GAMMA Investing LLC raised its stake 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 buying an additional 535 shares in the last quarter. Quest Partners LLC lifted its holdings in shares of ServisFirst Bancshares by 4,880.0% in the 2nd quarter. Quest Partners LLC now owns 996 shares of the financial services provider’s stock valued at $63,000 after buying an additional 976 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of ServisFirst Bancshares in the second quarter valued at approximately $84,000. Finally, LMR Partners LLP acquired a new position in ServisFirst Bancshares during the third quarter worth $203,000. 67.31% of the stock is currently owned by hedge funds and other institutional investors.

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.