ServisFirst Bancshares (NYSE:SFBS) Reaches New 52-Week High at $83.61

ServisFirst Bancshares, Inc. (NYSE:SFBS - Get Free Report) reached a new 52-week high during trading on Friday . The company traded as high as $83.61 and last traded at $83.18, with a volume of 61643 shares traded. The stock had previously closed at $77.63.

Wall Street Analyst Weigh In

SFBS has been the topic of a number of recent research reports. Hovde Group boosted their target price on shares of ServisFirst Bancshares from $68.00 to $76.00 and gave the stock a "market perform" rating in a research report on Tuesday, July 16th. Piper Sandler upped their price target on shares of ServisFirst Bancshares from $63.00 to $70.00 and gave the company a "neutral" rating in a report on Tuesday, July 16th.

ServisFirst Bancshares Stock Up 5.9 %

The stock has a market capitalization of $4.48 billion, a price-to-earnings ratio of 22.35 and a beta of 0.89. The firm's fifty day moving average is $70.34 and its 200-day moving average is $65.28. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.94 and a quick ratio of 0.94.

ServisFirst Bancshares (NYSE:SFBS - Get Free Report) last posted its quarterly earnings results on Monday, July 15th. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.04. ServisFirst Bancshares had a net margin of 21.25% and a return on equity of 14.19%. The firm had revenue of $114.77 million for the quarter, compared to analysts' expectations of $114.80 million. On average, sell-side analysts predict that ServisFirst Bancshares, Inc. will post 3.82 earnings per share for the current year.

ServisFirst Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 9th. Shareholders of record on Monday, July 1st were paid a dividend of $0.30 per share. The ex-dividend date was Monday, July 1st. This represents a $1.20 annualized dividend and a yield of 1.46%. ServisFirst Bancshares's payout ratio is 32.88%.

Institutional Trading of ServisFirst Bancshares

Several institutional investors have recently added to or reduced their stakes in SFBS. Strs Ohio increased its stake in ServisFirst Bancshares by 38.5% during the fourth quarter. Strs Ohio now owns 1,800 shares of the financial services provider's stock valued at $119,000 after purchasing an additional 500 shares during the last quarter. Mackenzie Financial Corp bought a new position in shares of ServisFirst Bancshares during the fourth quarter worth about $207,000. Xponance Inc. bought a new position in shares of ServisFirst Bancshares during the fourth quarter worth about $205,000. Jennison Associates LLC bought a new position in shares of ServisFirst Bancshares during the fourth quarter worth about $409,000. Finally, New York State Common Retirement Fund grew its position in shares of ServisFirst Bancshares by 1.9% during the fourth quarter. New York State Common Retirement Fund now owns 20,800 shares of the financial services provider's stock worth $1,386,000 after acquiring an additional 397 shares during the last quarter. Institutional investors own 67.31% of the company's stock.

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.