ServisFirst Bancshares, Inc. (NASDAQ:SFBS) Shares Sold by Morgan Stanley
Morgan Stanley lowered its position in ServisFirst Bancshares, Inc. (NASDAQ:SFBS) by 13.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 159,933 shares of the financial services provider’s stock after selling 25,059 shares during the period. Morgan Stanley owned 0.30% of ServisFirst Bancshares worth $5,818,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the company. NJ State Employees Deferred Compensation Plan bought a new stake in ServisFirst Bancshares during the first quarter worth about $291,000. Oakworth Capital Inc. increased its stake in ServisFirst Bancshares by 98.3% in the first quarter. Oakworth Capital Inc. now owns 23,230 shares of the financial services provider’s stock worth $845,000 after buying an additional 11,515 shares during the period. Fisher Asset Management LLC increased its stake in ServisFirst Bancshares by 40.3% in the first quarter. Fisher Asset Management LLC now owns 103,117 shares of the financial services provider’s stock worth $3,751,000 after buying an additional 29,601 shares during the period. Aull & Monroe Investment Management Corp increased its stake in ServisFirst Bancshares by 100.0% in the first quarter. Aull & Monroe Investment Management Corp now owns 13,446 shares of the financial services provider’s stock worth $490,000 after buying an additional 6,723 shares during the period. Finally, State of Alaska Department of Revenue increased its position in ServisFirst Bancshares by 2.3% in the first quarter. State of Alaska Department of Revenue now owns 4,890 shares of the financial services provider’s stock valued at $177,000 after buying an additional 110 shares during the last quarter. Institutional investors and hedge funds own 43.43% of the company’s stock.
ServisFirst Bancshares, Inc. (NASDAQ SFBS) traded up 1.85% during trading on Friday, hitting $36.28. 73,699 shares of the stock traded hands. The firm has a 50-day moving average price of $36.75 and a 200 day moving average price of $37.63. ServisFirst Bancshares, Inc. has a 52-week low of $24.51 and a 52-week high of $42.66. The company has a market cap of $1.92 billion, a P/E ratio of 21.99 and a beta of 1.38.
ServisFirst Bancshares (NASDAQ:SFBS) last issued its quarterly earnings data on Thursday, July 20th. The financial services provider reported $0.45 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.02. ServisFirst Bancshares had a net margin of 35.15% and a return on equity of 16.67%. The firm had revenue of $60.37 million for the quarter, compared to analysts’ expectations of $60.33 million. On average, equities analysts expect that ServisFirst Bancshares, Inc. will post $1.80 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Monday, July 3rd were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.55%. The ex-dividend date was Thursday, June 29th. ServisFirst Bancshares’s dividend payout ratio (DPR) is presently 12.05%.
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Several research firms have recently weighed in on SFBS. Zacks Investment Research downgraded shares of ServisFirst Bancshares from a “buy” rating to a “hold” rating in a research note on Thursday, July 20th. Stephens reiterated a “hold” rating and issued a $38.00 target price on shares of ServisFirst Bancshares in a research note on Wednesday, July 19th. BidaskClub downgraded shares of ServisFirst Bancshares from a “sell” rating to a “strong sell” rating in a research note on Wednesday, June 28th. Finally, Hovde Group upgraded shares of ServisFirst Bancshares from an “underperform” rating to a “market perform” rating and set a $37.00 target price for the company in a research note on Tuesday, April 18th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $49.75.
About ServisFirst Bancshares
ServisFirst Bancshares, Inc is a bank holding company whose business is conducted by its subsidiary, ServisFirst Bank (the Bank). The Company’s principal business is to accept deposits from the public and to make loans and other investments. The Company, through its bank, originates commercial, consumer and other loans; accept deposits; provides electronic banking services, such as online and mobile banking, including remote deposit capture, deliver treasury and cash management services, and provides correspondent banking services to other financial institutions.
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