ServisFirst Bancshares (NYSE:SFBS) Price Target Raised to $79.00

ServisFirst Bancshares (NYSE:SFBS) had its price objective boosted by Piper Sandler from $76.00 to $79.00 in a report issued on Tuesday morning, Benzinga reports. Piper Sandler currently has a neutral rating on the financial services provider’s stock.

Separately, Hovde Group lifted their target price on ServisFirst Bancshares from $80.00 to $91.00 and gave the stock a “market perform” rating in a research report on Tuesday.

ServisFirst Bancshares Trading Down 2.7 %

SFBS opened at $82.69 on Tuesday. ServisFirst Bancshares has a 12-month low of $46.02 and a 12-month high of $88.86. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.95 and a quick ratio of 0.94. The stock has a market capitalization of $4.51 billion, a PE ratio of 22.65 and a beta of 0.86. The firm’s fifty day moving average price is $80.50 and its 200 day moving average price is $70.84.

ServisFirst Bancshares (NYSE:SFBS) last issued its earnings results on Monday, October 21st. The financial services provider reported $1.10 earnings per share (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 analyst estimates of $120.70 million. ServisFirst Bancshares had a net margin of 21.16% and a return on equity of 14.23%. During the same quarter in the prior year, the business posted $0.98 EPS. As a group, research analysts expect that ServisFirst Bancshares will post 4.09 EPS for the current fiscal year.

ServisFirst Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Tuesday, October 1st were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.45%. The ex-dividend date was Tuesday, October 1st. ServisFirst Bancshares’s dividend payout ratio (DPR) is presently 32.88%.

Insider Activity at ServisFirst Bancshares

In other ServisFirst Bancshares news, COO Rodney Eldon Rushing sold 12,000 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The shares were 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 $24,805,505.46. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 7.40% of the company’s stock.

Institutional Investors Weigh In On ServisFirst Bancshares

Large investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its holdings in shares of ServisFirst Bancshares by 138.6% during the third quarter. GAMMA Investing LLC now owns 921 shares of the financial services provider’s stock valued at $74,000 after acquiring an additional 535 shares during the period. Quest Partners LLC lifted its position in 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 purchasing an additional 976 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in ServisFirst Bancshares during the 2nd quarter valued at about $84,000. Mechanics Bank Trust Department bought a new position in ServisFirst Bancshares in the 3rd quarter worth about $225,000. Finally, LifeSteps Financial Inc. acquired a new stake in shares of ServisFirst Bancshares in the third quarter valued at approximately $241,000. 67.31% of the stock is owned by institutional investors and hedge funds.

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.