ServisFirst Bancshares, Inc. (NYSE:SFBS) Shares Acquired by State Street Corp

State Street Corp grew its stake in ServisFirst Bancshares, Inc. (NYSE:SFBS - Free Report) by 2.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,377,138 shares of the financial services provider's stock after buying an additional 60,683 shares during the period. State Street Corp owned 4.36% of ServisFirst Bancshares worth $191,241,000 at the end of the most recent reporting period.

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

ServisFirst Bancshares Stock Performance

ServisFirst Bancshares stock traded down $0.62 during trading hours on Friday, reaching $93.00. 216,831 shares of the stock were exchanged, compared to its average volume of 203,153. ServisFirst Bancshares, Inc. has a 52-week low of $58.05 and a 52-week high of $101.37. The stock has a market cap of $5.07 billion, a P/E ratio of 24.87 and a beta of 0.88. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.95 and a current ratio of 0.95. The firm's 50 day moving average is $90.11 and its 200 day moving average is $78.32.

ServisFirst Bancshares (NYSE:SFBS - Get Free Report) last posted its quarterly earnings results on Monday, October 21st. The financial services provider reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.13. The firm had revenue of $256.53 million during 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 prior year, the company posted $0.98 earnings per share. Analysts predict that ServisFirst Bancshares, Inc. will post 4.09 EPS for the current fiscal year.

ServisFirst Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Investors 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 dividend on an annualized basis and a dividend yield of 1.29%. ServisFirst Bancshares's dividend payout ratio (DPR) is presently 32.09%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In related news, COO Rodney Eldon Rushing sold 12,000 shares of the business's stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $80.58, for a total transaction of $966,960.00. Following the sale, the chief operating officer now owns 307,837 shares of the company's stock, valued at approximately $24,805,505.46. The trade was a 3.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction of $85,200.00. Following the transaction, the senior vice president now owns 8,501 shares in the company, valued at $724,285.20. The trade was a 10.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.40% of the stock is currently owned by corporate insiders.

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.