Ceredex Value Advisors LLC Acquires New Shares in ServisFirst Bancshares, Inc. (NYSE:SFBS)

Ceredex Value Advisors LLC bought a new stake in shares of ServisFirst Bancshares, Inc. (NYSE:SFBS - Free Report) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 130,600 shares of the financial services provider's stock, valued at approximately $10,507,000. Ceredex Value Advisors LLC owned 0.24% of ServisFirst Bancshares at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Norden Group LLC boosted its stake in shares of ServisFirst Bancshares by 44.2% in the first quarter. Norden Group LLC now owns 13,914 shares of the financial services provider's stock worth $923,000 after buying an additional 4,264 shares during the last quarter. BNP Paribas Financial Markets boosted its position in ServisFirst Bancshares by 35.7% in the 1st quarter. BNP Paribas Financial Markets now owns 26,492 shares of the financial services provider's stock worth $1,758,000 after purchasing an additional 6,964 shares in the last quarter. Janney Montgomery Scott LLC acquired a new stake in shares of ServisFirst Bancshares during the 1st quarter worth approximately $271,000. Capstone Investment Advisors LLC purchased a new position in shares of ServisFirst Bancshares during the 1st quarter valued at approximately $297,000. Finally, Mutual of America Capital Management LLC lifted its stake in shares of ServisFirst Bancshares by 213.9% in the 1st quarter. Mutual of America Capital Management LLC now owns 110,164 shares of the financial services provider's stock valued at $7,310,000 after purchasing an additional 75,069 shares during the period. 67.31% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Hovde Group raised their price target on shares of ServisFirst Bancshares from $80.00 to $91.00 and gave the company a "market perform" rating in a research report on Tuesday, October 22nd. Piper Sandler raised their target price on ServisFirst Bancshares from $76.00 to $79.00 and gave the company a "neutral" rating in a research report on Tuesday, October 22nd.

ServisFirst Bancshares Price Performance

Shares of NYSE:SFBS traded up $1.17 during midday trading on Friday, reaching $84.31. 207,092 shares of the company's stock traded hands, compared to its average volume of 189,286. The company has a fifty day simple moving average of $81.08 and a two-hundred day simple moving average of $71.83. ServisFirst Bancshares, Inc. has a 1 year low of $46.06 and a 1 year high of $88.86. The company has a market cap of $4.60 billion, a P/E ratio of 22.54 and a beta of 0.86. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.95 and a current ratio of 0.95.

ServisFirst Bancshares (NYSE:SFBS - Get Free Report) last posted its quarterly earnings data on Monday, October 21st. The financial services provider reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.13. The business had revenue of $256.53 million for the quarter, compared to the consensus estimate of $120.70 million. ServisFirst Bancshares had a net margin of 21.16% and a return on equity of 14.23%. During the same period last year, the firm posted $0.98 earnings per share. Equities analysts predict that ServisFirst Bancshares, Inc. will post 4.09 EPS for the current fiscal year.

ServisFirst Bancshares Announces Dividend

The company also recently disclosed 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. The ex-dividend date was Tuesday, October 1st. This represents a $1.20 annualized dividend and a yield of 1.42%. ServisFirst Bancshares's dividend payout ratio (DPR) is currently 32.09%.

Insider Buying and Selling 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 stock was sold at an average price of $80.58, for a total value of $966,960.00. Following the sale, the chief operating officer now directly owns 307,837 shares of the company's stock, valued at $24,805,505.46. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, COO Rodney Eldon Rushing sold 12,000 shares of the firm's stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $80.58, for a total value of $966,960.00. Following the transaction, the chief operating officer now directly owns 307,837 shares of the company's stock, 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 filing with the SEC, which is available at this link. Also, SVP Henry Fulbrook Abbott sold 1,000 shares of the business's stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $85.20, for a total transaction of $85,200.00. Following the transaction, the senior vice president now owns 8,501 shares in the company, valued at $724,285.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 7.40% of the company's stock.

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.