ServisFirst Bancshares (NYSE:SFBS - Get Free Report) had its price objective upped by equities researchers at Piper Sandler from $76.00 to $79.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has a "neutral" rating on the financial services provider's stock. Piper Sandler's price objective indicates a potential downside of 5.85% from the stock's current price.
Separately, Hovde Group raised their price objective on ServisFirst Bancshares from $80.00 to $91.00 and gave the company a "market perform" rating in a research report on Tuesday.
Get Our Latest Report on SFBS
ServisFirst Bancshares Stock Performance
SFBS traded up $1.10 during midday trading on Tuesday, reaching $83.91. The company had a trading volume of 268,082 shares, compared to its average volume of 198,989. The business has a 50-day moving average of $79.78 and a two-hundred day moving average of $70.36. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.04. ServisFirst Bancshares has a 1 year low of $45.21 and a 1 year high of $88.86. The company has a market cap of $4.57 billion, a P/E ratio of 23.37 and a beta of 0.86.
ServisFirst Bancshares (NYSE:SFBS - Get Free Report) last issued its earnings results on Monday, October 21st. The financial services provider reported $1.10 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.13. The company had revenue of $256.53 million during the quarter, compared to the consensus estimate of $120.70 million. ServisFirst Bancshares had a net margin of 21.25% and a return on equity of 14.19%. During the same quarter in the prior year, the firm posted $0.98 EPS. As a group, equities research analysts predict that ServisFirst Bancshares will post 3.88 earnings per share for the current fiscal year.
Insider Transactions at ServisFirst Bancshares
In related news, COO Rodney Eldon Rushing sold 12,000 shares of ServisFirst Bancshares stock in a transaction dated 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 transaction, the chief operating officer now 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 7.40% of the company's stock.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of the business. Champlain Investment Partners LLC increased its stake in ServisFirst Bancshares by 34.0% in the 1st quarter. Champlain Investment Partners LLC now owns 1,438,872 shares of the financial services provider's stock worth $95,484,000 after buying an additional 364,720 shares during the period. Norden Group LLC raised its stake in shares of ServisFirst Bancshares by 2,663.4% during the first quarter. Norden Group LLC now owns 266,665 shares of the financial services provider's stock valued at $17,696,000 after acquiring an additional 257,015 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of ServisFirst Bancshares by 4.0% during the first quarter. Vanguard Group Inc. now owns 5,699,645 shares of the financial services provider's stock valued at $378,228,000 after acquiring an additional 221,507 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of ServisFirst Bancshares in the second quarter valued at approximately $7,181,000. Finally, Mutual of America Capital Management LLC grew its stake in ServisFirst Bancshares by 213.9% in the first quarter. Mutual of America Capital Management LLC now owns 110,164 shares of the financial services provider's stock worth $7,310,000 after purchasing an additional 75,069 shares in the last quarter. Institutional investors own 67.31% of the company's stock.
About ServisFirst Bancshares
(
Get Free Report)
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.
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