ServisFirst Bancshares, Inc. (NASDAQ:SFBS) Stake Increased by Bank of America Corp DE
Bank of America Corp DE boosted its stake in ServisFirst Bancshares, Inc. (NASDAQ:SFBS) by 101.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 84,575 shares of the financial services provider’s stock after buying an additional 42,539 shares during the period. Bank of America Corp DE’s holdings in ServisFirst Bancshares were worth $3,076,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new position in shares of ServisFirst Bancshares during the fourth quarter valued at about $2,369,000. Teachers Advisors LLC boosted its position in shares of ServisFirst Bancshares by 107.9% in the fourth quarter. Teachers Advisors LLC now owns 75,715 shares of the financial services provider’s stock valued at $2,835,000 after buying an additional 39,297 shares during the period. Highbridge Capital Management LLC purchased a new position in shares of ServisFirst Bancshares during the fourth quarter valued at about $654,000. Macquarie Group Ltd. boosted its position in shares of ServisFirst Bancshares by 28.0% in the fourth quarter. Macquarie Group Ltd. now owns 36,184 shares of the financial services provider’s stock valued at $1,355,000 after buying an additional 7,915 shares during the period. Finally, Peregrine Capital Management LLC boosted its position in shares of ServisFirst Bancshares by 18.1% in the first quarter. Peregrine Capital Management LLC now owns 487,032 shares of the financial services provider’s stock valued at $17,158,000 after buying an additional 74,654 shares during the period. 43.39% of the stock is owned by institutional investors and hedge funds.
Shares of ServisFirst Bancshares, Inc. (SFBS) traded down 1.05% during mid-day trading on Monday, hitting $35.90. 3,564 shares of the stock were exchanged. ServisFirst Bancshares, Inc. has a 52-week low of $24.51 and a 52-week high of $42.66. The stock has a 50-day moving average price of $36.75 and a 200 day moving average price of $37.63. The firm has a market cap of $1.90 billion, a price-to-earnings ratio of 21.76 and a beta of 1.38.
ServisFirst Bancshares (NASDAQ:SFBS) last announced its quarterly earnings data on Thursday, July 20th. The financial services provider reported $0.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.02. The firm had revenue of $60.37 million during the quarter, compared to analyst estimates of $60.33 million. ServisFirst Bancshares had a net margin of 35.15% and a return on equity of 16.67%. On average, equities research analysts expect that ServisFirst Bancshares, Inc. will post $1.80 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Monday, July 3rd were given 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 payout ratio is currently 12.05%.
SFBS has been the subject of several recent analyst reports. Hovde Group raised 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 report on Tuesday, April 18th. Stephens reaffirmed a “hold” rating on shares of ServisFirst Bancshares in a report on Tuesday, April 18th. BidaskClub cut shares of ServisFirst Bancshares from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 28th. Finally, Zacks Investment Research cut shares of ServisFirst Bancshares from a “buy” rating to a “hold” rating in a report on Thursday, July 20th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the stock. ServisFirst Bancshares has an average 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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