ServisFirst Bancshares, Inc. (SFBS) Lowered to “Hold” at Zacks Investment Research
ServisFirst Bancshares, Inc. (NASDAQ:SFBS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday.
According to Zacks, “ServisFirst Bancshares Inc. is a bank holding company. Through its subsidiary, ServisFirst Bank, it provides business and personal financial services. It offers various deposit products; commercial lending products; commercial real estate loans, construction and development loans, and residential real estate loans; and consumer loans. ServisFirst Bancshares, Inc. is headquartered in Birmingham, Alabama. “
A number of other analysts have also commented on the stock. Stephens reaffirmed a “hold” rating and set a $38.00 price objective on shares of ServisFirst Bancshares in a research note on Wednesday, July 19th. BidaskClub lowered shares of ServisFirst Bancshares from a “sell” rating to a “strong sell” rating in a research note on Wednesday, June 28th. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $37.67.
Shares of ServisFirst Bancshares (NASDAQ SFBS) opened at 35.63 on Tuesday. The stock has a market capitalization of $1.89 billion, a P/E ratio of 21.59 and a beta of 1.40. The stock’s 50 day moving average is $34.56 and its 200-day moving average is $36.28. ServisFirst Bancshares has a one year low of $25.00 and a one year high of $42.66.
ServisFirst Bancshares (NASDAQ:SFBS) last posted its quarterly earnings data on Thursday, July 20th. The financial services provider reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.02. ServisFirst Bancshares had a net margin of 35.15% and a return on equity of 16.67%. The company had revenue of $60.37 million during the quarter, compared to analyst estimates of $60.33 million. On average, equities research analysts expect that ServisFirst Bancshares will post $1.80 EPS for the current year.
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In other news, EVP Rex D. Mckinney sold 75,000 shares of the company’s stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $33.55, for a total value of $2,516,250.00. Following the transaction, the executive vice president now owns 105,340 shares in the company, valued at approximately $3,534,157. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James J. Filler bought 3,546 shares of the company’s stock in a transaction dated Friday, September 8th. The stock was acquired at an average price of $32.79 per share, for a total transaction of $116,273.34. Following the acquisition, the director now directly owns 1,313,152 shares in the company, valued at $43,058,254.08. The disclosure for this purchase can be found here. 14.04% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of SFBS. Bank of Montreal Can increased its holdings in shares of ServisFirst Bancshares by 256.0% in the 1st quarter. Bank of Montreal Can now owns 3,204 shares of the financial services provider’s stock valued at $117,000 after purchasing an additional 2,304 shares during the period. Wells Fargo & Company MN increased its holdings in shares of ServisFirst Bancshares by 2.5% in the 1st quarter. Wells Fargo & Company MN now owns 35,430 shares of the financial services provider’s stock valued at $1,290,000 after purchasing an additional 860 shares during the period. Great West Life Assurance Co. Can increased its holdings in shares of ServisFirst Bancshares by 7.4% in the 1st quarter. Great West Life Assurance Co. Can now owns 63,189 shares of the financial services provider’s stock valued at $2,297,000 after purchasing an additional 4,341 shares during the period. First Trust Advisors LP increased its holdings in shares of ServisFirst Bancshares by 43.6% in the 1st quarter. First Trust Advisors LP now owns 175,705 shares of the financial services provider’s stock valued at $6,392,000 after purchasing an additional 53,310 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in shares of ServisFirst Bancshares by 40.6% in the 1st quarter. Bank of New York Mellon Corp now owns 726,004 shares of the financial services provider’s stock valued at $26,412,000 after purchasing an additional 209,826 shares during the period. Institutional investors own 42.55% of the company’s stock.
ServisFirst Bancshares Company Profile
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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