Geode Capital Management LLC Grows Stake in ServisFirst Bancshares, Inc. (NYSE:SFBS)

Geode Capital Management LLC boosted its position in shares of ServisFirst Bancshares, Inc. (NYSE:SFBS - Free Report) by 2.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,157,350 shares of the financial services provider's stock after acquiring an additional 23,555 shares during the quarter. Geode Capital Management LLC owned 2.12% of ServisFirst Bancshares worth $93,126,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of SFBS. Point72 DIFC Ltd purchased a new stake in shares of ServisFirst Bancshares in the 3rd quarter worth $32,000. GAMMA Investing LLC grew its holdings in 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 purchasing an additional 535 shares during the period. Quest Partners LLC increased its position in ServisFirst Bancshares by 4,880.0% in 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. bought a new position in shares of ServisFirst Bancshares in the second quarter worth about $84,000. Finally, LMR Partners LLP purchased a new position in shares of ServisFirst Bancshares during the 3rd quarter valued at about $203,000. Institutional investors own 67.31% of the company's stock.

Insider Activity

In related 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 value of $85,200.00. Following the completion of 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 10.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 7.40% of the company's stock.

ServisFirst Bancshares Price Performance

NYSE SFBS traded up $0.76 during trading hours on Friday, reaching $85.86. The company's stock had a trading volume of 1,138,838 shares, compared to its average volume of 207,576. ServisFirst Bancshares, Inc. has a 1 year low of $58.05 and a 1 year high of $101.37. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $4.68 billion, a price-to-earnings ratio of 22.96 and a beta of 0.88. The firm's 50-day moving average price is $91.09 and its 200-day moving average price is $79.28.

ServisFirst Bancshares (NYSE:SFBS - Get Free Report) last released its earnings results on Monday, October 21st. The financial services provider reported $1.10 EPS for the quarter, topping the consensus estimate of $0.97 by $0.13. ServisFirst Bancshares had a net margin of 21.16% and a return on equity of 14.23%. The firm had revenue of $256.53 million for the quarter, compared to the consensus estimate of $120.70 million. During the same quarter in the previous year, the firm earned $0.98 earnings per share. On average, equities research analysts predict that ServisFirst Bancshares, Inc. will post 4.09 EPS for the current fiscal year.

ServisFirst Bancshares Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Thursday, January 2nd will be issued a dividend of $0.335 per share. This represents a $1.34 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend is Thursday, January 2nd. This is an increase from ServisFirst Bancshares's previous quarterly dividend of $0.30. ServisFirst Bancshares's dividend payout ratio is 32.09%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SFBS. Hovde Group increased their target price on shares of 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 increased their price objective 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. Finally, StockNews.com downgraded shares of ServisFirst Bancshares from a "hold" rating to a "sell" rating in a research report on Sunday, November 24th.

ServisFirst Bancshares 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.