Leavell Investment Management Inc. Has $7.75 Million Stake in ServisFirst Bancshares, Inc. (NYSE:SFBS)

Leavell Investment Management Inc. lowered its position in shares of ServisFirst Bancshares, Inc. (NYSE:SFBS - Free Report) by 5.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 96,359 shares of the financial services provider's stock after selling 5,510 shares during the period. Leavell Investment Management Inc. owned approximately 0.18% of ServisFirst Bancshares worth $7,752,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Champlain Investment Partners LLC boosted its holdings in ServisFirst Bancshares by 34.0% in the first quarter. Champlain Investment Partners LLC now owns 1,438,872 shares of the financial services provider's stock worth $95,484,000 after purchasing an additional 364,720 shares during the period. Vanguard Group Inc. grew its position in shares of ServisFirst Bancshares by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 5,699,645 shares of the financial services provider's stock valued at $378,228,000 after buying an additional 221,507 shares during the last quarter. Ceredex Value Advisors LLC acquired a new stake in shares of ServisFirst Bancshares during the 3rd quarter worth approximately $10,507,000. Sanctuary Advisors LLC acquired a new stake in ServisFirst Bancshares in the second quarter worth $7,181,000. Finally, Principal Financial Group Inc. lifted its position in 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 purchasing an additional 108,088 shares during the last quarter. Hedge funds and other institutional investors own 67.31% of the company's stock.

Insider Buying and Selling

In related news, COO Rodney Eldon Rushing sold 12,000 shares of the firm's stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $80.58, for a total transaction 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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related 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 value of $85,200.00. Following the completion of the transaction, the senior vice president now owns 8,501 shares of the company's stock, valued at approximately $724,285.20. This trade represents a 0.00 % decrease in their position. 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 firm's stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $80.58, for a total transaction of $966,960.00. Following the completion of the transaction, the chief operating officer now directly owns 307,837 shares of the company's stock, valued at $24,805,505.46. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 7.40% of the stock is currently owned by insiders.

ServisFirst Bancshares Price Performance

Shares of ServisFirst Bancshares stock traded up $2.28 on Friday, hitting $95.98. The company had a trading volume of 252,998 shares, compared to its average volume of 202,819. The business has a 50-day simple moving average of $82.17 and a 200-day simple moving average of $72.76. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.95 and a quick ratio of 0.95. The company has a market cap of $5.23 billion, a PE ratio of 25.66 and a beta of 0.86. ServisFirst Bancshares, Inc. has a 52 week low of $46.06 and a 52 week high of $98.00.

ServisFirst Bancshares (NYSE:SFBS - Get Free Report) last posted its quarterly earnings data on Monday, October 21st. The financial services provider reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.13. The business had revenue of $256.53 million during the quarter, compared to analysts' expectations 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 last year, the firm posted $0.98 earnings per share. Research analysts expect that ServisFirst Bancshares, Inc. will post 4.09 EPS for the current fiscal year.

ServisFirst Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Tuesday, October 1st were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date was Tuesday, October 1st. ServisFirst Bancshares's payout ratio is 32.09%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SFBS. Piper Sandler raised their price target on shares of ServisFirst Bancshares from $76.00 to $79.00 and gave the company a "neutral" rating in a research note on Tuesday, October 22nd. Hovde Group raised their price target on shares of ServisFirst Bancshares from $80.00 to $91.00 and gave the company a "market perform" rating in a research note 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.