ServisFirst Bancshares (SFBS) Upgraded by Zacks Investment Research to “Hold”

Zacks Investment Research upgraded shares of ServisFirst Bancshares (NASDAQ:SFBS) from a sell rating to a hold rating in a research note published on Thursday.

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. “

Separately, BidaskClub downgraded shares of ServisFirst Bancshares from a buy rating to a hold rating in a research report on Saturday, December 9th.

ServisFirst Bancshares (NASDAQ:SFBS) traded up $0.17 during midday trading on Thursday, hitting $41.20. 192,100 shares of the company traded hands, compared to its average volume of 150,767. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.98 and a current ratio of 0.98. The company has a market cap of $2,173.74, a price-to-earnings ratio of 23.68 and a beta of 1.41. ServisFirst Bancshares has a 1 year low of $32.54 and a 1 year high of $44.00.

ServisFirst Bancshares (NASDAQ:SFBS) last posted its quarterly earnings data on Monday, October 16th. The financial services provider reported $0.47 EPS for the quarter, topping the consensus estimate of $0.45 by $0.02. The firm had revenue of $63.19 million during the quarter, compared to analyst estimates of $64.08 million. ServisFirst Bancshares had a net margin of 35.08% and a return on equity of 16.84%. analysts anticipate that ServisFirst Bancshares will post 1.82 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Tuesday, January 2nd will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.49%. The ex-dividend date is Friday, December 29th. ServisFirst Bancshares’s dividend payout ratio is presently 11.49%.

In other news, CEO Rex D. Mckinney sold 33,000 shares of the company’s stock in a transaction on Thursday, October 19th. The shares were sold at an average price of $40.68, for a total value of $1,342,440.00. Following the sale, the chief executive officer now directly owns 37,340 shares of the company’s stock, valued at approximately $1,518,991.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP G. Carlton Barker sold 10,000 shares of the company’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $42.25, for a total transaction of $422,500.00. Following the completion of the sale, the executive vice president now directly owns 126,462 shares in the company, valued at $5,343,019.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 61,000 shares of company stock worth $2,497,540. 14.04% of the stock is owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company boosted its holdings in shares of ServisFirst Bancshares by 0.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 36,174 shares of the financial services provider’s stock valued at $1,334,000 after acquiring an additional 150 shares during the last quarter. Macquarie Group Ltd. boosted its holdings in shares of ServisFirst Bancshares by 0.8% in the 2nd quarter. Macquarie Group Ltd. now owns 38,998 shares of the financial services provider’s stock valued at $1,439,000 after acquiring an additional 296 shares during the last quarter. Amalgamated Bank boosted its holdings in shares of ServisFirst Bancshares by 5.1% in the 2nd quarter. Amalgamated Bank now owns 6,382 shares of the financial services provider’s stock valued at $235,000 after acquiring an additional 309 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of ServisFirst Bancshares by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 4,229 shares of the financial services provider’s stock valued at $156,000 after acquiring an additional 633 shares during the last quarter. Finally, Stifel Financial Corp boosted its holdings in shares of ServisFirst Bancshares by 0.6% in the 2nd quarter. Stifel Financial Corp now owns 125,632 shares of the financial services provider’s stock valued at $4,630,000 after acquiring an additional 716 shares during the last quarter. 43.15% of the stock is currently owned by institutional investors and hedge funds.

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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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