Fmr LLC Boosts Holdings in ServisFirst Bancshares, Inc. (NYSE:SFBS)

FMR LLC boosted its position in shares of ServisFirst Bancshares, Inc. (NYSE:SFBS - Free Report) by 552.5% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 24,280 shares of the financial services provider's stock after acquiring an additional 20,559 shares during the quarter. FMR LLC's holdings in ServisFirst Bancshares were worth $1,953,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its holdings in ServisFirst Bancshares by 3.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,230,925 shares of the financial services provider's stock valued at $77,775,000 after purchasing an additional 36,302 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of ServisFirst Bancshares by 11.6% in the 3rd quarter. Principal Financial Group Inc. now owns 1,037,557 shares of the financial services provider's stock valued at $83,466,000 after buying an additional 108,088 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of ServisFirst Bancshares by 9.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 491,818 shares of the financial services provider's stock worth $39,567,000 after buying an additional 43,844 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in ServisFirst Bancshares by 1.6% during the second quarter. Bank of New York Mellon Corp now owns 472,799 shares of the financial services provider's stock worth $29,876,000 after acquiring an additional 7,450 shares during the period. Finally, Victory Capital Management Inc. raised its position in ServisFirst Bancshares by 2,704.5% during the third quarter. Victory Capital Management Inc. now owns 415,510 shares of the financial services provider's stock valued at $33,428,000 after acquiring an additional 400,694 shares in the last quarter. Institutional investors and hedge funds own 67.31% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on SFBS shares. StockNews.com downgraded shares of ServisFirst Bancshares from a "hold" rating to a "sell" rating in a research report on Sunday, November 24th. Hovde Group lifted their price target on ServisFirst Bancshares from $80.00 to $91.00 and gave the company a "market perform" rating in a research note on Tuesday, October 22nd. Finally, Piper Sandler increased their price target on ServisFirst Bancshares from $76.00 to $79.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 22nd.

Insiders Place Their Bets

In related 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 transaction, the senior vice president now directly owns 8,501 shares in the company, 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 SEC, which is accessible through this hyperlink. Also, COO Rodney Eldon Rushing sold 12,000 shares of the 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 completion of the sale, the chief operating officer now directly owns 307,837 shares in the company, valued at $24,805,505.46. This represents a 3.75 % decrease in their position. The disclosure for this sale can be found here. 7.40% of the stock is owned by insiders.

ServisFirst Bancshares Trading Up 1.5 %

NYSE:SFBS traded up $1.36 during trading hours on Monday, hitting $94.36. The company had a trading volume of 182,494 shares, compared to its average volume of 203,231. ServisFirst Bancshares, Inc. has a 1 year low of $58.05 and a 1 year high of $101.37. The company has a market cap of $5.15 billion, a P/E ratio of 25.24 and a beta of 0.88. The company has a 50-day moving average of $90.11 and a 200 day moving average of $78.57. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.04.

ServisFirst Bancshares (NYSE:SFBS - Get Free Report) last posted its earnings results on Monday, October 21st. The financial services provider reported $1.10 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.13. The company 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 period in the previous year, the business posted $0.98 EPS. Sell-side analysts expect that ServisFirst Bancshares, Inc. will post 4.09 earnings per share for the current year.

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.