Hovde Group Forecasts Strong Price Appreciation for ServisFirst Bancshares (NYSE:SFBS) Stock

ServisFirst Bancshares (NYSE:SFBS) had its price objective boosted by equities research analysts at Hovde Group from $92.00 to $97.00 in a report released on Friday, Marketbeat reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Hovde Group’s price target would indicate a potential upside of 12.92% from the stock’s previous close.

Other research analysts have also recently issued reports about the company. Weiss Ratings reiterated a “hold (c)” rating on shares of ServisFirst Bancshares in a research note on Monday, December 29th. Raymond James Financial raised shares of ServisFirst Bancshares from an “outperform” rating to a “strong-buy” rating and set a $95.00 price target for the company in a research note on Wednesday, January 21st. Zacks Research upgraded shares of ServisFirst Bancshares from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 22nd. Finally, Piper Sandler upgraded ServisFirst Bancshares from a “neutral” rating to an “overweight” rating and set a $89.00 price objective for the company in a report on Wednesday, January 21st. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $93.67.

ServisFirst Bancshares Price Performance

Shares of SFBS stock opened at $85.90 on Friday. The business has a fifty day simple moving average of $80.05 and a 200 day simple moving average of $78.56. The company has a market cap of $4.69 billion, a P/E ratio of 16.98 and a beta of 0.94. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.02. ServisFirst Bancshares has a twelve month low of $66.48 and a twelve month high of $93.43.

ServisFirst Bancshares (NYSE:SFBS) last issued its earnings results on Tuesday, January 20th. The financial services provider reported $1.58 EPS for the quarter, topping the consensus estimate of $1.38 by $0.20. ServisFirst Bancshares had a return on equity of 16.36% and a net margin of 26.95%.The firm had revenue of $162.21 million during the quarter, compared to the consensus estimate of $151.82 million. On average, sell-side analysts forecast that ServisFirst Bancshares will post 5.17 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Virtu Financial LLC bought a new stake in ServisFirst Bancshares in the fourth quarter valued at $204,000. Invesco Ltd. grew its stake in ServisFirst Bancshares by 3.5% in the fourth quarter. Invesco Ltd. now owns 124,943 shares of the financial services provider’s stock valued at $8,970,000 after acquiring an additional 4,255 shares during the period. Mackenzie Financial Corp increased its holdings in shares of ServisFirst Bancshares by 4.9% during the fourth quarter. Mackenzie Financial Corp now owns 3,234 shares of the financial services provider’s stock valued at $234,000 after acquiring an additional 152 shares in the last quarter. NewEdge Advisors LLC increased its holdings in shares of ServisFirst Bancshares by 307,426.8% during the fourth quarter. NewEdge Advisors LLC now owns 919,505 shares of the financial services provider’s stock valued at $66,011,000 after acquiring an additional 919,206 shares in the last quarter. Finally, Empowered Funds LLC acquired a new position in shares of ServisFirst Bancshares during the fourth quarter worth approximately $115,000. Institutional investors and hedge funds own 67.31% of the company’s stock.

ServisFirst Bancshares Company Profile

ServisFirst Bancshares, Inc is a bank holding company headquartered in Birmingham, Alabama, and the parent of ServisFirst Bank. The company specializes in commercial banking services, catering primarily to small and mid-sized businesses, professionals and entrepreneurs. Its product portfolio encompasses commercial real estate lending, commercial and industrial loans, deposit accounts, treasury management and other ancillary banking products designed to meet the financial needs of its clients.

ServisFirst Bank offers a full suite of deposit products, including interest-bearing checking, money market accounts and certificates of deposit, as well as a variety of loan products.