Quest Partners LLC Acquires 7,630 Shares of ServisFirst Bancshares, Inc. (NYSE:SFBS)

Quest Partners LLC increased its position in shares of ServisFirst Bancshares, Inc. (NYSE:SFBS - Free Report) by 766.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,626 shares of the financial services provider's stock after purchasing an additional 7,630 shares during the period. Quest Partners LLC's holdings in ServisFirst Bancshares were worth $694,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of SFBS. GAMMA Investing LLC raised its holdings 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 worth $74,000 after buying an additional 535 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in ServisFirst Bancshares in the second quarter valued at $84,000. CIBC Asset Management Inc raised its stake in ServisFirst Bancshares by 8.7% during the second quarter. CIBC Asset Management Inc now owns 3,328 shares of the financial services provider's stock worth $210,000 after acquiring an additional 267 shares in the last quarter. Bayesian Capital Management LP bought a new position in shares of ServisFirst Bancshares during the first quarter valued at $217,000. Finally, Cottonwood Capital Advisors LLC bought a new position in shares of ServisFirst Bancshares during the third quarter valued at $222,000. Institutional investors and hedge funds own 67.31% of the company's stock.

Insider Activity

In other news, SVP Henry Fulbrook Abbott sold 1,000 shares of the company's stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $85.20, for a total value of $85,200.00. Following the completion of the sale, the senior vice president now directly owns 8,501 shares of the company's stock, valued at $724,285.20. This represents a 10.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Rodney Eldon Rushing sold 12,000 shares of the 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. This represents a 3.75 % 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 Price Performance

Shares of ServisFirst Bancshares stock traded up $3.39 during trading on Friday, reaching $96.64. The company's stock had a trading volume of 260,868 shares, compared to its average volume of 238,801. ServisFirst Bancshares, Inc. has a one year low of $49.72 and a one year high of $100.14. The stock has a 50-day moving average price of $85.65 and a two-hundred day moving average price of $75.09. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $5.27 billion, a P/E ratio of 25.84 and a beta of 0.86.

ServisFirst Bancshares (NYSE:SFBS - Get Free Report) last announced its earnings results on Monday, October 21st. The financial services provider reported $1.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.97 by $0.13. The company had revenue of $256.53 million for the quarter, compared to analyst estimates 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 in the prior year, the business earned $0.98 earnings per share. As a group, sell-side analysts anticipate that ServisFirst Bancshares, Inc. will post 4.09 EPS for the current fiscal year.

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 given a dividend of $0.30 per share. The ex-dividend date was Tuesday, October 1st. This represents a $1.20 dividend on an annualized basis and a yield of 1.24%. ServisFirst Bancshares's payout ratio is presently 32.09%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SFBS. Piper Sandler increased their target price on shares of ServisFirst Bancshares from $76.00 to $79.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 22nd. StockNews.com upgraded shares of ServisFirst Bancshares from a "sell" rating to a "hold" rating in a research note on Monday, November 18th. Finally, Hovde Group boosted their target price on ServisFirst Bancshares from $80.00 to $91.00 and gave the stock a "market perform" rating in a report on Tuesday, October 22nd.

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.