ServisFirst Bancshares Inc. (SFBS) Issues Earnings Results
ServisFirst Bancshares Inc. (NASDAQ:SFBS) issued its earnings results on Monday. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.06. ServisFirst Bancshares had a return on equity of 15.77% and a net margin of 34.23%.
Shares of ServisFirst Bancshares (NASDAQ:SFBS) opened at 51.80 on Tuesday. ServisFirst Bancshares has a 12 month low of $34.12 and a 12 month high of $53.58. The firm has a market capitalization of $1.36 billion, a P/E ratio of 18.44 and a beta of 1.20. The firm’s 50-day moving average price is $51.97 and its 200 day moving average price is $50.28.
The business also recently declared a quarterly dividend, which was paid on Friday, October 14th. Shareholders of record on Tuesday, October 4th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.62%. The ex-dividend date of this dividend was Friday, September 30th. ServisFirst Bancshares’s dividend payout ratio is currently 11.76%.
A number of equities analysts recently issued reports on the company. Zacks Investment Research lowered ServisFirst Bancshares from a “buy” rating to a “hold” rating in a research note on Wednesday, June 22nd. Raymond James Financial Inc. raised ServisFirst Bancshares from an “outperform” rating to a “strong-buy” rating and set a $43.00 price target on the stock in a research report on Thursday, August 25th.
In other ServisFirst Bancshares news, EVP Andrew N. Kattos sold 4,259 shares of the firm’s stock in a transaction on Wednesday, October 5th. The shares were sold at an average price of $52.46, for a total transaction of $223,427.14. Following the completion of the transaction, the executive vice president now directly owns 127,597 shares of the company’s stock, valued at approximately $6,693,738.62. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Andrew N. Kattos sold 11,741 shares of the firm’s stock in a transaction on Friday, September 23rd. The stock was sold at an average price of $52.39, for a total transaction of $615,110.99. Following the transaction, the executive vice president now directly owns 128,259 shares of the company’s stock, valued at $6,719,489.01. The disclosure for this sale can be found here. Company insiders own 14.28% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in SFBS. Victory Capital Management Inc. raised its position in shares of ServisFirst Bancshares by 77.7% in the second quarter. Victory Capital Management Inc. now owns 2,433 shares of the financial services provider’s stock valued at $120,000 after buying an additional 1,064 shares in the last quarter. Huntington National Bank bought a new position in shares of ServisFirst Bancshares during the second quarter valued at $120,000. US Bancorp DE bought a new position in shares of ServisFirst Bancshares during the second quarter valued at $132,000. PineBridge Investments L.P. bought a new position in shares of ServisFirst Bancshares during the second quarter valued at $137,000. Finally, Teacher Retirement System of Texas raised its position in shares of ServisFirst Bancshares by 14.0% in the second quarter. Teacher Retirement System of Texas now owns 3,083 shares of the financial services provider’s stock valued at $152,000 after buying an additional 379 shares in the last quarter. 33.94% of the stock is owned by institutional investors.
ServisFirst Bancshares Company Profile
ServisFirst Bancshares, Inc is a bank holding company. The Company, through its subsidiary, ServisFirst Bank (the Bank), operates approximately 18 banking offices. Through its bank, the Company originates commercial, consumer and other loans and accepts deposits, provides electronic banking services, such as online and mobile banking, including remote deposit capture, delivers treasury and cash management services, and provides correspondent banking services to other financial institutions.
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