Wedge Capital Management L L P NC Sells 646 Shares of ServisFirst Bancshares, Inc. (NASDAQ:SFBS)

Wedge Capital Management L L P NC reduced its holdings in shares of ServisFirst Bancshares, Inc. (NASDAQ:SFBSGet Rating) by 2.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,303 shares of the financial services provider’s stock after selling 646 shares during the quarter. Wedge Capital Management L L P NC’s holdings in ServisFirst Bancshares were worth $1,839,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. NN Investment Partners Holdings N.V. purchased a new stake in shares of ServisFirst Bancshares during the 1st quarter valued at approximately $54,000. Wolff Wiese Magana LLC purchased a new stake in shares of ServisFirst Bancshares during the 1st quarter valued at approximately $59,000. Spire Wealth Management purchased a new stake in shares of ServisFirst Bancshares during the 1st quarter valued at approximately $88,000. Advisor Group Holdings Inc. lifted its stake in shares of ServisFirst Bancshares by 29.6% during the 4th quarter. Advisor Group Holdings Inc. now owns 1,169 shares of the financial services provider’s stock valued at $99,000 after buying an additional 267 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd lifted its stake in shares of ServisFirst Bancshares by 119.0% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 1,060 shares of the financial services provider’s stock valued at $101,000 after buying an additional 576 shares in the last quarter. 64.14% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other ServisFirst Bancshares news, CFO William M. Foshee sold 3,000 shares of the stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $92.89, for a total value of $278,670.00. Following the sale, the chief financial officer now directly owns 265,747 shares in the company, valued at approximately $24,685,238.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 8.31% of the company’s stock.

ServisFirst Bancshares Stock Performance

Shares of SFBS stock opened at $85.18 on Wednesday. The stock has a market capitalization of $4.63 billion, a P/E ratio of 20.76 and a beta of 1.01. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.05. The firm’s 50 day moving average is $85.35 and its 200 day moving average is $84.05. ServisFirst Bancshares, Inc. has a 12 month low of $71.57 and a 12 month high of $97.25.

ServisFirst Bancshares (NASDAQ:SFBSGet Rating) last posted its earnings results on Monday, July 18th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.06. ServisFirst Bancshares had a net margin of 46.52% and a return on equity of 19.30%. The business had revenue of $125.87 million for the quarter, compared to analysts’ expectations of $120.00 million. During the same period in the prior year, the company posted $0.92 EPS. On average, sell-side analysts anticipate that ServisFirst Bancshares, Inc. will post 4.63 earnings per share for the current year.

ServisFirst Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 8th. Shareholders of record on Friday, July 1st were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.08%. The ex-dividend date of this dividend was Thursday, June 30th. ServisFirst Bancshares’s dividend payout ratio is presently 22.17%.

ServisFirst Bancshares Company Profile

(Get Rating)

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, such as 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.

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Institutional Ownership by Quarter for ServisFirst Bancshares (NASDAQ:SFBS)

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