Holocene Advisors LP Invests $512,000 in ServisFirst Bancshares, Inc. (NYSE:SFBS)

Holocene Advisors LP purchased a new position in shares of ServisFirst Bancshares, Inc. (NYSE:SFBS - Free Report) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 6,369 shares of the financial services provider's stock, valued at approximately $512,000.

Other hedge funds also recently made changes to their positions in the company. Quest Partners LLC lifted its holdings in ServisFirst Bancshares by 4,880.0% during the 2nd quarter. Quest Partners LLC now owns 996 shares of the financial services provider's stock worth $63,000 after purchasing an additional 976 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of ServisFirst Bancshares by 138.6% in 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 in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in ServisFirst Bancshares during the second quarter worth about $84,000. LMR Partners LLP acquired a new stake in ServisFirst Bancshares in the 3rd quarter worth about $203,000. Finally, Verition Fund Management LLC acquired a new position in shares of ServisFirst Bancshares during the 3rd quarter worth approximately $208,000. 67.31% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at ServisFirst Bancshares

In other news, SVP Henry Fulbrook Abbott sold 1,000 shares of ServisFirst Bancshares stock in a transaction that occurred 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 sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Rodney Eldon Rushing sold 12,000 shares of the company's stock in a transaction on Wednesday, September 18th. The stock was 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 approximately $24,805,505.46. The trade was a 3.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 7.40% of the company's stock.

ServisFirst Bancshares Price Performance

SFBS stock traded up $0.48 during trading on Friday, reaching $95.16. 113,554 shares of the company were exchanged, compared to its average volume of 203,657. The company has a 50-day moving average of $88.56 and a two-hundred day moving average of $77.44. The company has a market capitalization of $5.19 billion, a price-to-earnings ratio of 25.44 and a beta of 0.88. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.95 and a quick ratio of 0.95. ServisFirst Bancshares, Inc. has a twelve month low of $55.04 and a twelve month high of $101.37.

ServisFirst Bancshares (NYSE:SFBS - Get Free Report) last announced 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 return on equity of 14.23% and a net margin of 21.16%. The firm had revenue of $256.53 million for the quarter, compared to the consensus estimate of $120.70 million. During the same period in the previous year, the business earned $0.98 EPS. As a group, equities analysts predict that ServisFirst Bancshares, Inc. will post 4.09 earnings per share for the current fiscal year.

ServisFirst Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Tuesday, October 1st were paid a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.26%. ServisFirst Bancshares's payout ratio is presently 32.09%.

Wall Street Analysts Forecast Growth

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

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.