Raymond James Trust N.A. Buys 263 Shares of ServisFirst Bancshares, Inc. (NYSE:SFBS)

Raymond James Trust N.A. grew its stake in shares of ServisFirst Bancshares, Inc. (NYSE:SFBS) by 5.7% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 4,853 shares of the financial services provider’s stock after acquiring an additional 263 shares during the period. Raymond James Trust N.A.’s holdings in ServisFirst Bancshares were worth $390,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its holdings in ServisFirst Bancshares by 9.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 491,818 shares of the financial services provider’s stock worth $39,567,000 after acquiring an additional 43,844 shares during the period. Landscape Capital Management L.L.C. bought a new position in shares of ServisFirst Bancshares in the third quarter worth $220,000. Intech Investment Management LLC raised its position in shares of ServisFirst Bancshares by 88.5% in the third quarter. Intech Investment Management LLC now owns 12,184 shares of the financial services provider’s stock worth $980,000 after buying an additional 5,721 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in ServisFirst Bancshares during the third quarter valued at $1,471,000. Finally, LMR Partners LLP bought a new stake in ServisFirst Bancshares during the third quarter valued at $203,000. 67.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SFBS. Piper Sandler upped their target price on ServisFirst Bancshares from $76.00 to $79.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Hovde Group raised their target price on shares of ServisFirst Bancshares from $80.00 to $91.00 and gave the company a “market perform” rating in a research note on Tuesday, October 22nd. Finally, StockNews.com cut shares of ServisFirst Bancshares from a “hold” rating to a “sell” rating in a research note on Sunday.

Insider Activity at ServisFirst Bancshares

In related news, SVP Henry Fulbrook Abbott sold 1,000 shares of the stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $85.20, for a total transaction of $85,200.00. Following the completion of the sale, the senior vice president now directly owns 8,501 shares in the company, valued at $724,285.20. This represents a 10.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Rodney Eldon Rushing sold 12,000 shares of ServisFirst Bancshares stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $80.58, for a total value of $966,960.00. Following the completion of the transaction, the chief operating officer now directly owns 307,837 shares in the company, valued at $24,805,505.46. This trade represents a 3.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.40% of the stock is owned by insiders.

ServisFirst Bancshares Trading Down 1.8 %

Shares of SFBS stock opened at $97.24 on Wednesday. The business has a 50-day moving average price of $86.03 and a two-hundred day moving average price of $75.50. ServisFirst Bancshares, Inc. has a 12-month low of $49.72 and a 12-month high of $101.37. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.04. The firm has a market cap of $5.30 billion, a P/E ratio of 26.00 and a beta of 0.86.

ServisFirst Bancshares (NYSE:SFBS) last released its earnings results on Monday, October 21st. The financial services provider reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.13. The company had revenue of $256.53 million during the quarter, compared to the consensus estimate of $120.70 million. ServisFirst Bancshares had a return on equity of 14.23% and a net margin of 21.16%. During the same quarter in the previous year, the company posted $0.98 EPS. Equities analysts anticipate that ServisFirst Bancshares, Inc. will post 4.09 EPS for the current fiscal year.

ServisFirst Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Tuesday, October 1st were paid a $0.30 dividend. The ex-dividend date was Tuesday, October 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.23%. ServisFirst Bancshares’s dividend payout ratio (DPR) is 32.09%.

ServisFirst Bancshares Profile

ServisFirst Bancshares, Inc operates as the bank holding company for ServisFirst Bank that provides various banking services to individual and corporate customers. It accepts demand, time, savings, and other deposits; checking, money market, and IRA accounts; and certificates of deposit. The company's loan products include commercial lending products, including seasonal, bridge, and term loans for working capital, expansion of the business, acquisition of property, and plant and equipment, as well as commercial lines of credit; commercial real estate loans, construction and development loans, and residential real estate loans; and consumer loans, such as home equity loans, vehicle financing, loans secured by deposits, and secured and unsecured personal loans.