ServisFirst Bancshares, Inc. (NYSE:SFBS) Shares Purchased by Raymond James & Associates

Raymond James & Associates grew its position in shares of ServisFirst Bancshares, Inc. (NYSE:SFBS - Free Report) by 7.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 216,992 shares of the financial services provider's stock after acquiring an additional 14,859 shares during the quarter. Raymond James & Associates owned 0.40% of ServisFirst Bancshares worth $17,457,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Quest Partners LLC lifted its position in ServisFirst Bancshares by 4,880.0% during the second quarter. Quest Partners LLC now owns 996 shares of the financial services provider's stock worth $63,000 after purchasing an additional 976 shares during the period. GAMMA Investing LLC grew its position in shares of ServisFirst Bancshares by 138.6% in the 3rd quarter. GAMMA Investing LLC now owns 921 shares of the financial services provider's stock valued at $74,000 after buying an additional 535 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of ServisFirst Bancshares in the second quarter valued at about $84,000. CIBC Asset Management Inc raised its holdings in ServisFirst Bancshares by 8.7% during the 2nd quarter. CIBC Asset Management Inc now owns 3,328 shares of the financial services provider's stock worth $210,000 after purchasing an additional 267 shares during the last quarter. Finally, Bayesian Capital Management LP acquired a new stake in shares of ServisFirst Bancshares during the first quarter worth $217,000. 67.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SFBS has been the subject of several research reports. Piper Sandler lifted their price target on shares of ServisFirst Bancshares from $76.00 to $79.00 and gave the company a "neutral" rating in a research report on Tuesday, October 22nd. Hovde Group lifted their target price on ServisFirst Bancshares from $80.00 to $91.00 and gave the company a "market perform" rating in a research report on Tuesday, October 22nd.

Insider Activity at ServisFirst Bancshares

In other news, COO Rodney Eldon Rushing sold 12,000 shares of the company's stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $80.58, for a total value of $966,960.00. Following the completion of the sale, the chief operating officer now owns 307,837 shares of the company's stock, valued at approximately $24,805,505.46. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 7.40% of the stock is currently owned by company insiders.

ServisFirst Bancshares Stock Performance

Shares of NYSE:SFBS traded down $2.32 during mid-day trading on Friday, reaching $82.69. 208,929 shares of the company traded hands, compared to its average volume of 198,915. The company's 50 day moving average price is $80.50 and its 200-day moving average price is $70.95. The firm has a market cap of $4.51 billion, a PE ratio of 22.65 and a beta of 0.86. ServisFirst Bancshares, Inc. has a 52 week low of $46.02 and a 52 week high of $88.86. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.95 and a quick ratio of 0.94.

ServisFirst Bancshares (NYSE:SFBS - Get Free Report) last posted its quarterly 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 business had revenue of $256.53 million during the quarter, compared to the consensus estimate of $120.70 million. ServisFirst Bancshares had a return on equity of 14.23% and a net margin of 21.16%. During the same period in the prior year, the company posted $0.98 EPS. On average, equities analysts expect that ServisFirst Bancshares, Inc. will post 4.09 EPS for the current fiscal year.

ServisFirst Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Tuesday, October 1st were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend was Tuesday, October 1st. ServisFirst Bancshares's dividend payout ratio is presently 32.88%.

ServisFirst Bancshares 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.