ServisFirst Bancshares, Inc. (NYSE:SFBS - Get Free Report) gapped down prior to trading on Tuesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $69.50, but opened at $67.00. ServisFirst Bancshares shares last traded at $68.96, with a volume of 20,234 shares traded.
The financial services provider reported $1.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.18 by ($0.02). The company had revenue of $131.83 million for the quarter, compared to analyst estimates of $134.13 million. ServisFirst Bancshares had a return on equity of 14.81% and a net margin of 23.16%. During the same quarter last year, the business earned $0.94 earnings per share.
ServisFirst Bancshares Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, April 9th. Shareholders of record on Tuesday, April 1st were given a $0.335 dividend. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $1.34 annualized dividend and a yield of 1.99%. ServisFirst Bancshares's dividend payout ratio is presently 32.21%.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on SFBS. StockNews.com raised ServisFirst Bancshares from a "sell" rating to a "hold" rating in a research report on Sunday, January 5th. Piper Sandler boosted their price objective on ServisFirst Bancshares from $95.00 to $96.00 and gave the stock a "neutral" rating in a report on Tuesday, January 28th.
Check Out Our Latest Stock Analysis on ServisFirst Bancshares
Insider Activity at ServisFirst Bancshares
In related news, Director Christopher J. Mettler sold 18,000 shares of the firm's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $88.68, for a total transaction of $1,596,240.00. Following the transaction, the director now directly owns 17,436 shares of the company's stock, valued at approximately $1,546,224.48. This trade represents a 50.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 7.40% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On ServisFirst Bancshares
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SFBS. Precision Wealth Strategies LLC boosted its position in ServisFirst Bancshares by 5.0% during the 1st quarter. Precision Wealth Strategies LLC now owns 7,709 shares of the financial services provider's stock valued at $637,000 after acquiring an additional 364 shares in the last quarter. Handelsbanken Fonder AB raised its stake in shares of ServisFirst Bancshares by 20.6% in the first quarter. Handelsbanken Fonder AB now owns 14,023 shares of the financial services provider's stock worth $1,158,000 after purchasing an additional 2,400 shares during the last quarter. SG Americas Securities LLC bought a new position in ServisFirst Bancshares during the 1st quarter valued at about $991,000. Butensky & Cohen Financial Security Inc. bought a new stake in ServisFirst Bancshares in the 1st quarter worth approximately $480,000. Finally, GAMMA Investing LLC grew its holdings in shares of ServisFirst Bancshares by 2,878.9% in the first quarter. GAMMA Investing LLC now owns 140,337 shares of the financial services provider's stock worth $11,592,000 after acquiring an additional 135,626 shares during the period. 67.31% of the stock is currently owned by institutional investors.
ServisFirst Bancshares Stock Down 3.0 %
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 cap of $3.68 billion, a P/E ratio of 16.20 and a beta of 0.89. The company's 50 day moving average price is $80.87 and its two-hundred day moving average price is $86.20.
ServisFirst Bancshares Company Profile
(
Get Free Report)
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.
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