Stonegate Investment Group LLC Has $67.16 Million Stock Position in ServisFirst Bancshares, Inc. (NYSE:SFBS)

Stonegate Investment Group LLC decreased its stake in shares of ServisFirst Bancshares, Inc. (NYSE:SFBS - Free Report) by 12.4% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 834,846 shares of the financial services provider's stock after selling 118,258 shares during the period. ServisFirst Bancshares accounts for about 1.8% of Stonegate Investment Group LLC's holdings, making the stock its 23rd largest position. Stonegate Investment Group LLC owned about 1.53% of ServisFirst Bancshares worth $67,163,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. lifted its position in 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 worth $378,228,000 after acquiring an additional 221,507 shares during the last quarter. Champlain Investment Partners LLC boosted its position in shares of 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 valued at $95,484,000 after acquiring an additional 364,720 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of ServisFirst Bancshares by 3.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,230,925 shares of the financial services provider's stock worth $77,775,000 after acquiring an additional 36,302 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of ServisFirst Bancshares by 4.9% during the 2nd quarter. Principal Financial Group Inc. now owns 929,469 shares of the financial services provider's stock worth $58,733,000 after purchasing an additional 43,125 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in ServisFirst Bancshares by 1.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 472,799 shares of the financial services provider's stock valued at $29,876,000 after acquiring an additional 7,450 shares in the last quarter. 67.31% of the stock is owned by institutional investors.

ServisFirst Bancshares Price Performance

Shares of SFBS stock traded down $1.88 during trading hours on Friday, reaching $85.69. 176,561 shares of the company were exchanged, compared to its average volume of 198,399. ServisFirst Bancshares, Inc. has a fifty-two week low of $45.21 and a fifty-two week high of $88.86. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.94 and a quick ratio of 0.94. The stock's fifty day moving average is $79.32 and its two-hundred day moving average is $69.98. The company has a market cap of $4.67 billion, a price-to-earnings ratio of 24.19 and a beta of 0.86.

ServisFirst Bancshares (NYSE:SFBS - Get Free Report) last posted its quarterly earnings data on Monday, July 15th. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.04. The firm had revenue of $114.77 million for the quarter, compared to the consensus estimate of $114.80 million. ServisFirst Bancshares had a return on equity of 14.19% and a net margin of 21.25%. Sell-side analysts forecast that ServisFirst Bancshares, Inc. will post 3.88 earnings per share for the current fiscal year.

ServisFirst Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Tuesday, October 1st were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.40%. The ex-dividend date was Tuesday, October 1st. ServisFirst Bancshares's dividend payout ratio (DPR) is presently 33.15%.

Insider Activity at ServisFirst Bancshares

In other news, COO Rodney Eldon Rushing sold 12,000 shares of ServisFirst Bancshares 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 owns 307,837 shares in the company, valued at $24,805,505.46. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 7.40% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Hovde Group raised their target price on 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 boosted their price objective on ServisFirst Bancshares from $63.00 to $70.00 and gave the stock 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.