ServisFirst Bancshares (NYSE:SFBS) Announces Earnings Results, Beats Estimates By $0.13 EPS

ServisFirst Bancshares (NYSE:SFBS) announced its quarterly earnings data on Monday. The financial services provider reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.13, Yahoo Finance reports. ServisFirst Bancshares had a return on equity of 14.19% and a net margin of 21.25%. The firm had revenue of $256.53 million for the quarter, compared to analyst estimates of $120.70 million. During the same quarter in the prior year, the company posted $0.98 earnings per share.

ServisFirst Bancshares Price Performance

Shares of NYSE:SFBS traded up $1.16 on Tuesday, hitting $83.97. The company had a trading volume of 12,780 shares, compared to its average volume of 197,737. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.04. ServisFirst Bancshares has a 52-week low of $45.21 and a 52-week high of $88.86. The business has a 50 day moving average of $79.78 and a 200 day moving average of $70.36. The company has a market cap of $4.58 billion, a PE ratio of 23.07 and a beta of 0.86.

ServisFirst Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Tuesday, October 1st were given a $0.30 dividend. The ex-dividend date was Tuesday, October 1st. This represents a $1.20 annualized dividend and a dividend yield of 1.43%. ServisFirst Bancshares’s dividend payout ratio is currently 33.15%.

Insider Activity

In related news, COO Rodney Eldon Rushing sold 12,000 shares of the stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $80.58, for a total transaction of $966,960.00. Following the transaction, the chief operating officer now directly owns 307,837 shares in the company, valued at approximately $24,805,505.46. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 7.40% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Hovde Group upped their price objective on ServisFirst Bancshares from $80.00 to $91.00 and gave the stock a “market perform” rating in a report on Tuesday. Piper Sandler boosted their target price on ServisFirst Bancshares from $63.00 to $70.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 16th.

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.