ServisFirst Bancshares (SFBS) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of ServisFirst Bancshares (NASDAQ:SFBS) from a hold rating to a buy rating in a report published on Saturday morning. The firm currently has $47.00 target price on the financial services provider’s stock.

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 cut shares of ServisFirst Bancshares from a buy rating to a hold rating in a report on Saturday, December 9th.

ServisFirst Bancshares (NASDAQ SFBS) opened at $41.42 on Friday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.09. The company has a market cap of $2,194.40, a PE ratio of 23.80 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 results on Monday, October 16th. The financial services provider reported $0.47 EPS for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.02. The firm had revenue of $63.19 million for the quarter, compared to analysts’ expectations of $64.08 million. ServisFirst Bancshares had a net margin of 35.08% and a return on equity of 16.84%. research analysts predict that ServisFirst Bancshares will post 1.73 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, January 12th. Stockholders of record on Tuesday, January 2nd were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date was Friday, December 29th. ServisFirst Bancshares’s payout ratio is presently 11.49%.

In related news, CFO William M. Foshee sold 18,000 shares of the company’s stock in a transaction dated Wednesday, October 25th. The shares were sold at an average price of $40.70, for a total value of $732,600.00. Following the completion of the sale, the chief financial officer now directly owns 289,502 shares of the company’s stock, valued at $11,782,731.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP G. Carlton Barker sold 10,000 shares of the company’s stock in a transaction dated Wednesday, November 29th. The stock was 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 of the company’s stock, valued at $5,343,019.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 61,000 shares of company stock worth $2,497,540. Company insiders own 14.04% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in SFBS. Riverhead Capital Management LLC lifted its stake in ServisFirst Bancshares by 135.2% in the second quarter. Riverhead Capital Management LLC now owns 3,763 shares of the financial services provider’s stock worth $139,000 after acquiring an additional 2,163 shares during the period. SG Americas Securities LLC purchased a new stake in ServisFirst Bancshares in the third quarter worth about $146,000. Flinton Capital Management LLC lifted its stake in ServisFirst Bancshares by 124.2% in the second quarter. Flinton Capital Management LLC now owns 4,144 shares of the financial services provider’s stock worth $153,000 after acquiring an additional 2,296 shares during the period. Victory Capital Management Inc. lifted its stake in ServisFirst Bancshares by 17.6% in the second quarter. Victory Capital Management Inc. now owns 4,229 shares of the financial services provider’s stock worth $156,000 after acquiring an additional 633 shares during the period. Finally, Welch Investments LLC purchased a new stake in ServisFirst Bancshares in the third quarter worth about $202,000. 43.15% of the stock is owned by institutional investors.

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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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