ServisFirst Bancshares (NASDAQ:SFBS) Rating Increased to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of ServisFirst Bancshares (NASDAQ:SFBS) from a sell rating to a hold rating in a research report released on Tuesday morning, Zacks.com reports.

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 upgraded ServisFirst Bancshares from a sell rating to a hold rating in a report on Thursday, September 12th.

Shares of ServisFirst Bancshares stock opened at $33.30 on Tuesday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.08. The firm has a market cap of $1.81 billion, a price-to-earnings ratio of 12.94 and a beta of 1.32. The business has a fifty day simple moving average of $31.25 and a 200-day simple moving average of $32.96. ServisFirst Bancshares has a fifty-two week low of $29.17 and a fifty-two week high of $41.24.

ServisFirst Bancshares (NASDAQ:SFBS) last announced its quarterly earnings data on Monday, July 15th. The financial services provider reported $0.66 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.69 by ($0.03). The firm had revenue of $75.86 million during the quarter, compared to analyst estimates of $77.30 million. ServisFirst Bancshares had a net margin of 36.49% and a return on equity of 19.37%. Analysts anticipate that ServisFirst Bancshares will post 2.62 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Tuesday, October 1st will be issued a $0.15 dividend. The ex-dividend date is Monday, September 30th. This represents a $0.60 annualized dividend and a dividend yield of 1.80%. ServisFirst Bancshares’s dividend payout ratio (DPR) is 23.72%.

In other news, EVP Bradford Alan Vieira sold 16,484 shares of the business’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $33.20, for a total transaction of $547,268.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director James J. Filler bought 1,500 shares of the business’s stock in a transaction dated Wednesday, August 28th. The shares were bought at an average cost of $29.65 per share, for a total transaction of $44,475.00. The disclosure for this purchase can be found here. Insiders have bought 4,334 shares of company stock worth $129,001 over the last ninety days. 13.56% of the stock is owned by insiders.

Several institutional investors have recently made changes to their positions in SFBS. Davis Capital Partners LLC raised its position in shares of ServisFirst Bancshares by 25.4% during the first quarter. Davis Capital Partners LLC now owns 1,128,818 shares of the financial services provider’s stock worth $38,108,000 after purchasing an additional 228,818 shares during the period. Nuveen Asset Management LLC acquired a new stake in shares of ServisFirst Bancshares during the second quarter worth $7,409,000. Arlington Partners LLC raised its position in shares of ServisFirst Bancshares by 1,153.7% during the second quarter. Arlington Partners LLC now owns 92,435 shares of the financial services provider’s stock worth $3,167,000 after purchasing an additional 85,062 shares during the period. HighTower Advisors LLC raised its position in shares of ServisFirst Bancshares by 188.4% during the second quarter. HighTower Advisors LLC now owns 123,836 shares of the financial services provider’s stock worth $4,242,000 after purchasing an additional 80,900 shares during the period. Finally, Fidelity National Financial Inc. acquired a new stake in shares of ServisFirst Bancshares during the second quarter worth $2,619,000. 47.26% of the stock is currently owned by institutional investors.

About ServisFirst Bancshares

ServisFirst Bancshares, Inc operates as the bank holding company for ServisFirst Bank that provides banking services to individual and corporate customers in the United States. It offers demand, time, savings, and other deposits; checking, money market, and IRA accounts; and certificates of deposit. The company also provides commercial lending products, such as seasonal loans, bridge loans, and term loans for working capital, expansion of the business, or acquisition of property, 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.

Further Reading: What is an inverted yield curve?

Get a free copy of the Zacks research report on ServisFirst Bancshares (SFBS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for ServisFirst Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ServisFirst Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.