JPMorgan Chase & Co. Has $68.79 Million Stake in ServisFirst Bancshares, Inc. (NYSE:SFBS)

JPMorgan Chase & Co. lessened its holdings in shares of ServisFirst Bancshares, Inc. (NYSE:SFBS) by 44.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 855,045 shares of the financial services provider’s stock after selling 693,513 shares during the period. JPMorgan Chase & Co.’s holdings in ServisFirst Bancshares were worth $68,788,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Point72 DIFC Ltd bought a new stake in ServisFirst Bancshares during the 3rd quarter worth about $32,000. Quest Partners LLC increased its holdings in shares of ServisFirst Bancshares by 4,880.0% in the second quarter. Quest Partners LLC now owns 996 shares of the financial services provider’s stock valued at $63,000 after purchasing an additional 976 shares in the last quarter. GAMMA Investing LLC raised its position in ServisFirst Bancshares by 138.6% in the 3rd quarter. GAMMA Investing LLC now owns 921 shares of the financial services provider’s stock worth $74,000 after purchasing an additional 535 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of ServisFirst Bancshares during the second quarter worth $84,000. Finally, LMR Partners LLP acquired a new position in shares of ServisFirst Bancshares during the third quarter valued at $203,000. 67.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SFBS has been the topic of a number of research reports. Piper Sandler upped their target price on shares of ServisFirst Bancshares from $76.00 to $79.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. StockNews.com upgraded ServisFirst Bancshares from a “sell” rating to a “hold” rating in a report on Monday, December 30th. Finally, Hovde Group upped their price target on ServisFirst Bancshares from $80.00 to $91.00 and gave the company a “market perform” rating in a research note on Tuesday, October 22nd.

Insider Buying and Selling at ServisFirst Bancshares

In other news, SVP Henry Fulbrook Abbott sold 1,000 shares of the firm’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $85.20, for a total value of $85,200.00. Following the completion of the transaction, the senior vice president now owns 8,501 shares in the company, valued at $724,285.20. This trade represents a 10.53 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 7.40% of the company’s stock.

ServisFirst Bancshares Stock Performance

SFBS stock opened at $84.32 on Friday. ServisFirst Bancshares, Inc. has a 1-year low of $58.05 and a 1-year high of $101.37. The business’s 50-day moving average price is $91.26 and its two-hundred day moving average price is $81.07. The firm has a market cap of $4.60 billion, a PE ratio of 22.55 and a beta of 0.88. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.04.

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

ServisFirst Bancshares Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Thursday, January 2nd will be issued a $0.335 dividend. This represents a $1.34 dividend on an annualized basis and a dividend yield of 1.59%. This is a positive change from ServisFirst Bancshares’s previous quarterly dividend of $0.30. The ex-dividend date is Thursday, January 2nd. ServisFirst Bancshares’s payout ratio is 35.83%.

About ServisFirst Bancshares

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.