ServisFirst Bancshares (NASDAQ:SFBS) Price Target Lowered to $67.00 at Piper Sandler

ServisFirst Bancshares (NASDAQ:SFBSGet Rating) had its target price decreased by Piper Sandler from $72.00 to $67.00 in a report released on Tuesday morning, The Fly reports. Piper Sandler currently has a neutral rating on the financial services provider’s stock.

Separately, StockNews.com cut shares of ServisFirst Bancshares from a hold rating to a sell rating in a research report on Thursday, December 15th.

ServisFirst Bancshares Stock Performance

Shares of SFBS opened at $64.82 on Tuesday. 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 stock has a market cap of $3.52 billion, a P/E ratio of 14.87 and a beta of 0.92. The company has a 50-day moving average of $71.20 and a two-hundred day moving average of $78.28. ServisFirst Bancshares has a 12-month low of $63.53 and a 12-month high of $97.25.

ServisFirst Bancshares (NASDAQ:SFBSGet Rating) last announced its earnings results on Monday, January 23rd. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.24. The company had revenue of $177.24 million during the quarter, compared to analysts’ expectations of $138.50 million. ServisFirst Bancshares had a net margin of 44.67% and a return on equity of 19.75%. As a group, research analysts predict that ServisFirst Bancshares will post 4.54 EPS for the current fiscal year.

ServisFirst Bancshares Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 6th. Stockholders of record on Tuesday, January 3rd were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, December 30th. This is an increase from ServisFirst Bancshares’s previous quarterly dividend of $0.23. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.73%. ServisFirst Bancshares’s payout ratio is 25.69%.

Institutional Investors Weigh In On ServisFirst Bancshares

A number of hedge funds and other institutional investors have recently modified their holdings of SFBS. Advisor Group Holdings Inc. grew its holdings in ServisFirst Bancshares by 110.2% in the first quarter. Advisor Group Holdings Inc. now owns 2,457 shares of the financial services provider’s stock valued at $253,000 after purchasing an additional 1,288 shares during the period. Citigroup Inc. grew its holdings in ServisFirst Bancshares by 16.6% in the first quarter. Citigroup Inc. now owns 46,132 shares of the financial services provider’s stock valued at $4,396,000 after purchasing an additional 6,576 shares during the period. Natixis Advisors L.P. grew its holdings in ServisFirst Bancshares by 25.1% in the first quarter. Natixis Advisors L.P. now owns 14,852 shares of the financial services provider’s stock valued at $1,415,000 after purchasing an additional 2,984 shares during the period. MetLife Investment Management LLC grew its holdings in ServisFirst Bancshares by 54.0% in the first quarter. MetLife Investment Management LLC now owns 26,637 shares of the financial services provider’s stock valued at $2,538,000 after purchasing an additional 9,335 shares during the period. Finally, Rhumbline Advisers grew its holdings in ServisFirst Bancshares by 5.7% in the first quarter. Rhumbline Advisers now owns 122,234 shares of the financial services provider’s stock valued at $11,648,000 after purchasing an additional 6,577 shares during the period. 63.25% of the stock is currently owned by hedge funds and other institutional investors.

About ServisFirst Bancshares

(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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