Victory Capital Management Inc. Has $33.43 Million Stake in ServisFirst Bancshares, Inc. (NYSE:SFBS)

Victory Capital Management Inc. boosted its position in shares of ServisFirst Bancshares, Inc. (NYSE:SFBS - Free Report) by 2,704.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 415,510 shares of the financial services provider's stock after acquiring an additional 400,694 shares during the period. Victory Capital Management Inc. owned 0.76% of ServisFirst Bancshares worth $33,428,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Cetera Investment Advisers acquired a new stake in ServisFirst Bancshares in the 1st quarter valued at approximately $2,125,000. Dimensional Fund Advisors LP boosted its position in shares of ServisFirst Bancshares by 3.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,230,925 shares of the financial services provider's stock valued at $77,775,000 after acquiring an additional 36,302 shares during the period. Savant Capital LLC increased its position in ServisFirst Bancshares by 286.8% during the second quarter. Savant Capital LLC now owns 64,066 shares of the financial services provider's stock worth $4,048,000 after acquiring an additional 47,502 shares during the period. Mutual of America Capital Management LLC increased its position in ServisFirst Bancshares by 42.2% during the second quarter. Mutual of America Capital Management LLC now owns 156,633 shares of the financial services provider's stock worth $9,898,000 after acquiring an additional 46,469 shares during the period. Finally, Intech Investment Management LLC acquired a new position in ServisFirst Bancshares during the 2nd quarter valued at $408,000. 67.31% of the stock is owned by institutional investors and hedge funds.

Insider Activity at ServisFirst Bancshares

In other news, SVP Henry Fulbrook Abbott sold 1,000 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the senior vice president now owns 8,501 shares of the company's stock, valued at approximately $724,285.20. This trade 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 link. Also, COO Rodney Eldon Rushing sold 12,000 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the chief operating officer now directly owns 307,837 shares in the company, valued at $24,805,505.46. The trade was a 3.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.40% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SFBS. StockNews.com upgraded shares of ServisFirst Bancshares from a "sell" rating to a "hold" rating in a report on Tuesday, November 12th. Piper Sandler lifted their target price on ServisFirst Bancshares from $76.00 to $79.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 22nd. Finally, Hovde Group upped their price target on ServisFirst Bancshares from $80.00 to $91.00 and gave the company a "market perform" rating in a report on Tuesday, October 22nd.

ServisFirst Bancshares Trading Down 0.1 %

Shares of ServisFirst Bancshares stock opened at $94.58 on Friday. ServisFirst Bancshares, Inc. has a 52-week low of $49.72 and a 52-week high of $100.14. The firm has a market capitalization of $5.16 billion, a PE ratio of 25.29 and a beta of 0.86. 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's fifty day moving average price is $83.91 and its two-hundred day moving average price is $74.06.

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 analyst estimates of $120.70 million. ServisFirst Bancshares had a net margin of 21.16% and a return on equity of 14.23%. During the same quarter in the prior year, the business posted $0.98 earnings per share. On average, analysts expect that ServisFirst Bancshares, Inc. will post 4.09 EPS for the current year.

ServisFirst Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Tuesday, October 1st were given a dividend of $0.30 per share. The ex-dividend date was Tuesday, October 1st. This represents a $1.20 annualized dividend and a dividend yield of 1.27%. ServisFirst Bancshares's dividend payout ratio (DPR) is presently 32.09%.

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.