ServisFirst Bancshares (NYSE:SFBS) Lowered to Sell Rating by StockNews.com

StockNews.com lowered shares of ServisFirst Bancshares (NYSE:SFBS - Free Report) from a hold rating to a sell rating in a report released on Sunday.

Several other research firms have also recently issued reports on SFBS. Piper Sandler increased their price target on ServisFirst Bancshares from $76.00 to $79.00 and gave the stock a "neutral" rating in a research note on Tuesday, October 22nd. Hovde Group raised their target price on shares of ServisFirst Bancshares from $80.00 to $91.00 and gave the company a "market perform" rating in a research note on Tuesday, October 22nd.

ServisFirst Bancshares Stock Performance

Shares of SFBS stock traded up $3.39 on Friday, hitting $96.64. 260,868 shares of the stock traded hands, compared to its average volume of 238,801. The company has a market capitalization of $5.27 billion, a PE ratio of 25.84 and a beta of 0.86. ServisFirst Bancshares has a 1-year low of $49.72 and a 1-year high of $100.14. The company's fifty day moving average is $85.65 and its 200 day moving average is $75.17. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.95 and a quick ratio of 0.95.

ServisFirst Bancshares (NYSE:SFBS - Get Free Report) last released 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. ServisFirst Bancshares had a return on equity of 14.23% and a net margin of 21.16%. The business had revenue of $256.53 million during the quarter, compared to analyst estimates of $120.70 million. During the same quarter in the previous year, the firm posted $0.98 EPS. On average, equities research analysts predict that ServisFirst Bancshares will post 4.09 earnings per share for the current fiscal year.

ServisFirst Bancshares Dividend Announcement

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

Insider Activity

In other news, SVP Henry Fulbrook Abbott sold 1,000 shares of ServisFirst Bancshares 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 transaction, the senior vice president now directly owns 8,501 shares in the company, valued at approximately $724,285.20. The trade was a 10.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Rodney Eldon Rushing sold 12,000 shares of the firm's stock in a transaction on Wednesday, September 18th. The stock was 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 approximately $24,805,505.46. The trade was a 3.75 % decrease in their position. The disclosure for this sale can be found here. 7.40% of the stock is owned by insiders.

Institutional Investors Weigh In On ServisFirst Bancshares

A number of institutional investors have recently added to or reduced their stakes in SFBS. Point72 DIFC Ltd acquired a new position in ServisFirst Bancshares during the 3rd quarter worth about $32,000. Quest Partners LLC boosted its stake in ServisFirst Bancshares by 4,880.0% during the 2nd quarter. Quest Partners LLC now owns 996 shares of the financial services provider's stock worth $63,000 after acquiring an additional 976 shares during the last quarter. GAMMA Investing LLC grew 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 valued at $74,000 after buying an additional 535 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of ServisFirst Bancshares during the second quarter worth about $84,000. Finally, LMR Partners LLP bought a new position in ServisFirst Bancshares in the third quarter valued at approximately $203,000. 67.31% of the stock is owned by institutional investors and hedge funds.

About ServisFirst Bancshares

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.