ServisFirst Bancshares (NYSE:SFBS) Stock Rating Upgraded by StockNews.com

ServisFirst Bancshares (NYSE:SFBS) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a report issued on Monday.

A number of other research firms have also recently weighed in on SFBS. Hovde Group increased 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. Piper Sandler increased their price objective 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.

ServisFirst Bancshares Stock Performance

Shares of ServisFirst Bancshares stock traded down $0.93 during trading on Monday, hitting $85.64. 235,241 shares of the stock were exchanged, compared to its average volume of 206,344. ServisFirst Bancshares has a 1-year low of $58.05 and a 1-year high of $101.37. The stock has a market capitalization of $4.67 billion, a price-to-earnings ratio of 22.90 and a beta of 0.88. The company has a fifty day moving average price of $91.23 and a 200-day moving average price of $80.68. 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 announced its quarterly earnings results on Monday, October 21st. The financial services provider reported $1.10 earnings per share 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 firm had revenue of $256.53 million for the quarter, compared to the consensus estimate of $120.70 million. During the same quarter in the previous year, the business earned $0.98 earnings per share. As a group, equities analysts predict that ServisFirst Bancshares will post 4.09 EPS for the current fiscal year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Point72 DIFC Ltd bought a new stake in shares of ServisFirst Bancshares during the 3rd quarter valued at $32,000. Quest Partners LLC raised its stake in 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 lifted its position in ServisFirst Bancshares by 138.6% during the third 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 period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in ServisFirst Bancshares during the second quarter worth about $84,000. Finally, LMR Partners LLP bought a new position in ServisFirst Bancshares in the 3rd quarter valued at about $203,000. Institutional investors and hedge funds own 67.31% of the company’s stock.

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.