Raymond James & Associates Grows Stake in ServisFirst Bancshares, Inc. (NYSE:SFBS)

Raymond James & Associates raised its stake in ServisFirst Bancshares, Inc. (NYSE:SFBS - Free Report) by 8.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 202,133 shares of the financial services provider's stock after purchasing an additional 14,908 shares during the quarter. Raymond James & Associates owned 0.37% of ServisFirst Bancshares worth $12,773,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Diversified Trust Co lifted its position in ServisFirst Bancshares by 2.7% during the second quarter. Diversified Trust Co now owns 12,564 shares of the financial services provider's stock worth $794,000 after buying an additional 330 shares during the period. SG Americas Securities LLC raised its stake in ServisFirst Bancshares by 103.8% during the second quarter. SG Americas Securities LLC now owns 10,325 shares of the financial services provider's stock valued at $652,000 after buying an additional 5,258 shares in the last quarter. Cetera Advisors LLC grew its position in shares of ServisFirst Bancshares by 1.0% during the 1st quarter. Cetera Advisors LLC now owns 30,958 shares of the financial services provider's stock valued at $2,054,000 after buying an additional 317 shares during the last quarter. Cetera Investment Advisers bought a new stake in ServisFirst Bancshares in the first quarter valued at $2,125,000. Finally, XML Financial LLC bought a new position in ServisFirst Bancshares in the 1st quarter worth approximately $664,000. 67.31% of the stock is owned by hedge funds and other institutional investors.

ServisFirst Bancshares Price Performance

Shares of NYSE:SFBS traded up $4.00 during trading on Friday, hitting $81.63. 254,400 shares of the company were exchanged, compared to its average volume of 199,783. 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, Inc. has a 1-year low of $45.21 and a 1-year high of $83.61. The company has a market capitalization of $4.45 billion, a P/E ratio of 22.36 and a beta of 0.89. The business's 50 day moving average is $70.80 and its 200-day moving average is $65.50.

ServisFirst Bancshares (NYSE:SFBS - Get Free Report) last announced its quarterly earnings data on Monday, July 15th. The financial services provider reported $0.95 EPS for the quarter, topping 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 business had revenue of $114.77 million for the quarter, compared to analyst estimates of $114.80 million. Equities analysts forecast that ServisFirst Bancshares, Inc. will post 3.82 earnings per share for the current year.

ServisFirst Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 9th. Stockholders of record on Monday, July 1st were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date was Monday, July 1st. ServisFirst Bancshares's payout ratio is currently 32.88%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Hovde Group lifted their target price on shares of ServisFirst Bancshares from $68.00 to $76.00 and gave the company a "market perform" rating in a research note on Tuesday, July 16th. Piper Sandler upped their target price on shares of ServisFirst Bancshares from $63.00 to $70.00 and gave the company a "neutral" rating in a research note on Tuesday, July 16th.

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.