Sanctuary Advisors LLC Sells 23,439 Shares of ServisFirst Bancshares, Inc. (NYSE:SFBS)

Sanctuary Advisors LLC decreased its position in ServisFirst Bancshares, Inc. (NYSE:SFBS - Free Report) by 19.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 94,768 shares of the financial services provider's stock after selling 23,439 shares during the period. Sanctuary Advisors LLC owned approximately 0.17% of ServisFirst Bancshares worth $7,624,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in SFBS. Victory Capital Management Inc. lifted its stake in ServisFirst Bancshares by 2,704.5% in the third quarter. Victory Capital Management Inc. now owns 415,510 shares of the financial services provider's stock valued at $33,428,000 after buying an additional 400,694 shares in the last quarter. Ceredex Value Advisors LLC bought a new stake in ServisFirst Bancshares in the 3rd quarter valued at $10,507,000. Principal Financial Group Inc. boosted its stake in ServisFirst Bancshares by 11.6% in the 3rd quarter. Principal Financial Group Inc. now owns 1,037,557 shares of the financial services provider's stock worth $83,466,000 after purchasing an additional 108,088 shares during the period. Wasatch Advisors LP increased its holdings in ServisFirst Bancshares by 13.4% during the 3rd quarter. Wasatch Advisors LP now owns 708,307 shares of the financial services provider's stock worth $56,983,000 after purchasing an additional 83,804 shares in the last quarter. Finally, HHM Wealth Advisors LLC acquired a new stake in shares of ServisFirst Bancshares in the 2nd quarter valued at about $4,453,000. Institutional investors own 67.31% of the company's stock.

ServisFirst Bancshares Price Performance

ServisFirst Bancshares stock traded down $0.62 during mid-day trading on Friday, reaching $93.00. 256,335 shares of the company were exchanged, compared to its average volume of 190,874. The firm has a market cap of $5.07 billion, a PE ratio of 24.87 and a beta of 0.88. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.95 and a quick ratio of 0.95. The company has a fifty day simple moving average of $90.11 and a 200-day simple moving average of $78.57. ServisFirst Bancshares, Inc. has a 12 month low of $58.05 and a 12 month high of $101.37.

ServisFirst Bancshares (NYSE:SFBS - Get Free Report) last announced its quarterly earnings data on Monday, October 21st. The financial services provider reported $1.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.97 by $0.13. The business had revenue of $256.53 million for the quarter, compared to analysts' expectations 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. As a group, equities research analysts expect that ServisFirst Bancshares, Inc. will post 4.09 earnings per share 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 paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend was Tuesday, October 1st. ServisFirst Bancshares's payout ratio is 32.09%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Piper Sandler increased their price objective on ServisFirst Bancshares from $76.00 to $79.00 and gave the stock a "neutral" rating in a report on Tuesday, October 22nd. Hovde Group lifted their price objective on shares of ServisFirst Bancshares from $80.00 to $91.00 and gave the company a "market perform" rating in a report on Tuesday, October 22nd. Finally, StockNews.com cut shares of ServisFirst Bancshares from a "hold" rating to a "sell" rating in a report on Sunday, November 24th.

Insiders Place Their Bets

In other ServisFirst Bancshares news, SVP Henry Fulbrook Abbott sold 1,000 shares of the company's stock in a transaction on Thursday, October 24th. The shares were 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 approximately $724,285.20. This represents a 10.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Rodney Eldon Rushing sold 12,000 shares of the company's stock in a transaction 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 owns 307,837 shares of the company's stock, valued at $24,805,505.46. This trade represents a 3.75 % decrease in their position. The disclosure for this sale can be found here. Insiders own 7.40% of the company's stock.

ServisFirst Bancshares Company 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.