ServisFirst Bancshares (NYSE:SFBS) Announces Quarterly Earnings Results, Beats Estimates By $0.13 EPS

ServisFirst Bancshares (NYSE:SFBS - Get Free Report) issued its quarterly earnings results on Monday. The financial services provider reported $1.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.97 by $0.13, Yahoo Finance reports. The business had revenue of $256.53 million for the quarter, compared to the consensus estimate of $120.70 million. ServisFirst Bancshares had a return on equity of 14.19% and a net margin of 21.25%. During the same quarter in the prior year, the business posted $0.98 earnings per share.

ServisFirst Bancshares Price Performance

NYSE SFBS traded up $1.10 on Tuesday, hitting $83.91. 268,082 shares of the company's stock were exchanged, compared to its average volume of 198,989. The stock has a 50-day moving average of $79.78 and a 200-day moving average of $70.36. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.04. ServisFirst Bancshares has a 52 week low of $45.21 and a 52 week high of $88.86. The stock has a market cap of $4.57 billion, a price-to-earnings ratio of 23.37 and a beta of 0.86.

ServisFirst Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Tuesday, October 1st were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend was Tuesday, October 1st. ServisFirst Bancshares's payout ratio is presently 33.15%.

Insiders Place Their Bets

In other news, COO Rodney Eldon Rushing sold 12,000 shares of the 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 transaction, the chief operating officer now directly owns 307,837 shares in the company, valued at approximately $24,805,505.46. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 7.40% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on SFBS shares. Piper Sandler increased their price target on ServisFirst Bancshares from $76.00 to $79.00 and gave the stock a "neutral" rating in a research report on Tuesday. Hovde Group increased their price target on ServisFirst Bancshares from $80.00 to $91.00 and gave the stock a "market perform" rating in a research report on Tuesday.

ServisFirst Bancshares Company 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.