Intech Investment Management LLC Acquires 5,721 Shares of ServisFirst Bancshares, Inc. (NYSE:SFBS)

Intech Investment Management LLC lifted its stake in ServisFirst Bancshares, Inc. (NYSE:SFBS - Free Report) by 88.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,184 shares of the financial services provider's stock after purchasing an additional 5,721 shares during the period. Intech Investment Management LLC's holdings in ServisFirst Bancshares were worth $980,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of SFBS. Dimensional Fund Advisors LP grew its holdings in ServisFirst Bancshares by 3.0% during the 2nd 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 period. Principal Financial Group Inc. grew its holdings in ServisFirst Bancshares by 11.6% during 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 acquiring an additional 108,088 shares during the period. Bank of New York Mellon Corp grew its holdings in ServisFirst Bancshares by 1.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 472,799 shares of the financial services provider's stock worth $29,876,000 after acquiring an additional 7,450 shares during the period. Victory Capital Management Inc. grew its holdings in ServisFirst Bancshares by 2,704.5% during the 3rd quarter. Victory Capital Management Inc. now owns 415,510 shares of the financial services provider's stock worth $33,428,000 after acquiring an additional 400,694 shares during the period. Finally, Raymond James & Associates grew its holdings in ServisFirst Bancshares by 7.4% during the 3rd quarter. Raymond James & Associates now owns 216,992 shares of the financial services provider's stock worth $17,457,000 after acquiring an additional 14,859 shares during the period. Institutional investors and hedge funds own 67.31% of the company's stock.

Insider Buying and Selling at ServisFirst Bancshares

In related news, COO Rodney Eldon Rushing sold 12,000 shares of the company'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 owns 307,837 shares in the company, valued at approximately $24,805,505.46. This represents a 3.75 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Henry Fulbrook Abbott sold 1,000 shares of the company's stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $85.20, for a total transaction of $85,200.00. Following the completion of the transaction, the senior vice president now owns 8,501 shares in the company, valued at approximately $724,285.20. This trade represents a 10.53 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 7.40% of the company's stock.

Wall Street Analyst Weigh In

SFBS has been the topic of a number of recent analyst reports. Piper Sandler lifted their price target 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 cut shares of ServisFirst Bancshares from a "hold" rating to a "sell" rating in a research report on Sunday. Finally, Hovde Group lifted their price target on shares of ServisFirst Bancshares from $80.00 to $91.00 and gave the stock a "market perform" rating in a research report on Tuesday, October 22nd.

ServisFirst Bancshares Stock Down 0.2 %

SFBS traded down $0.16 during trading on Thursday, hitting $97.08. The company had a trading volume of 143,921 shares, compared to its average volume of 203,141. The company has a market capitalization of $5.30 billion, a PE ratio of 25.96 and a beta of 0.86. ServisFirst Bancshares, Inc. has a one year low of $50.36 and a one year high of $101.37. The firm's 50-day moving average price is $86.63 and its 200 day moving average price is $75.88. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.04.

ServisFirst Bancshares (NYSE:SFBS - Get Free Report) last posted its quarterly earnings data on Monday, October 21st. The financial services provider reported $1.10 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 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 in the previous year, the firm posted $0.98 EPS. As a group, equities analysts expect that ServisFirst Bancshares, Inc. will post 4.09 earnings per share for the current year.

ServisFirst Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Tuesday, October 1st were paid a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $1.20 annualized dividend and a yield of 1.24%. ServisFirst Bancshares's payout ratio is currently 32.09%.

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.