ServisFirst Bancshares (NASDAQ:SFBS) Shares Down 6.8% Following Analyst Downgrade

ServisFirst Bancshares, Inc. (NASDAQ:SFBSGet Rating) were down 6.8% during trading on Tuesday after Piper Sandler lowered their price target on the stock from $72.00 to $67.00. Piper Sandler currently has a neutral rating on the stock. ServisFirst Bancshares traded as low as $66.58 and last traded at $67.00. Approximately 11,994 shares traded hands during trading, a decline of 91% from the average daily volume of 138,713 shares. The stock had previously closed at $71.92.

Separately, StockNews.com downgraded shares of ServisFirst Bancshares from a “hold” rating to a “sell” rating in a research note on Thursday, December 15th.

Institutional Trading of ServisFirst Bancshares

Institutional investors and hedge funds have recently bought and sold shares of the business. Ronald Blue Trust Inc. acquired a new stake in ServisFirst Bancshares during the 2nd quarter worth approximately $3,352,000. Stonegate Investment Group LLC increased its position in ServisFirst Bancshares by 55.7% during the 2nd quarter. Stonegate Investment Group LLC now owns 62,459 shares of the financial services provider’s stock worth $4,929,000 after purchasing an additional 22,349 shares in the last quarter. WINTON GROUP Ltd increased its position in ServisFirst Bancshares by 18.1% during the 2nd quarter. WINTON GROUP Ltd now owns 3,523 shares of the financial services provider’s stock worth $278,000 after purchasing an additional 539 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in ServisFirst Bancshares during the 2nd quarter worth approximately $1,162,000. Finally, Russell Investments Group Ltd. increased its position in ServisFirst Bancshares by 18.3% during the 2nd quarter. Russell Investments Group Ltd. now owns 14,663 shares of the financial services provider’s stock worth $1,155,000 after purchasing an additional 2,267 shares in the last quarter. Institutional investors and hedge funds own 63.25% of the company’s stock.

ServisFirst Bancshares Stock Performance

The stock’s 50-day moving average is $71.20 and its 200-day moving average is $78.28. The stock has a market cap of $3.52 billion, a price-to-earnings ratio of 14.87 and a beta of 0.92. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.05.

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

ServisFirst Bancshares Increases Dividend

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

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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