HighTower Advisors LLC Decreases Stock Position in ServisFirst Bancshares, Inc. (NASDAQ:SFBS)

HighTower Advisors LLC lowered its stake in ServisFirst Bancshares, Inc. (NASDAQ:SFBS – Get Rating) by 1.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 57,011 shares of the financial services provider’s stock after selling 575 shares during the period. HighTower Advisors LLC’s holdings in ServisFirst Bancshares were worth $3,931,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Quadrant Capital Group LLC increased its holdings in shares of ServisFirst Bancshares by 64.3% in the third quarter. Quadrant Capital Group LLC now owns 590 shares of the financial services provider’s stock worth $47,000 after buying an additional 231 shares during the period. Point72 Hong Kong Ltd increased its holdings in shares of ServisFirst Bancshares by 1,043.6% in the second quarter. Point72 Hong Kong Ltd now owns 2,230 shares of the financial services provider’s stock worth $176,000 after buying an additional 2,035 shares during the period. Ergoteles LLC purchased a new position in shares of ServisFirst Bancshares in the third quarter worth about $214,000. Inspire Investing LLC increased its holdings in shares of ServisFirst Bancshares by 32.1% in the fourth quarter. Inspire Investing LLC now owns 3,408 shares of the financial services provider’s stock worth $235,000 after buying an additional 828 shares during the period. Finally, Jane Street Group LLC increased its holdings in shares of ServisFirst Bancshares by 17.8% in the second quarter. Jane Street Group LLC now owns 2,973 shares of the financial services provider’s stock worth $235,000 after buying an additional 449 shares during the period. Hedge funds and other institutional investors own 63.25% of the company’s stock.

ServisFirst Bancshares Stock Down 3.3 %

Shares of NASDAQ:SFBS opened at $44.04 on Friday. ServisFirst Bancshares, Inc. has a 1 year low of $41.45 and a 1 year high of $93.83. The company has a market cap of $2.39 billion, a PE ratio of 9.87 and a beta of 0.84. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.95 and a quick ratio of 0.95. The stock’s 50-day moving average is $50.82 and its 200 day moving average is $64.29.

ServisFirst Bancshares (NASDAQ:SFBS – Get Rating) last posted its quarterly earnings data on Monday, April 17th. The financial services provider reported $1.06 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.01. The business had revenue of $114.62 million for the quarter, compared to analysts’ expectations of $118.91 million. ServisFirst Bancshares had a return on equity of 19.78% and a net margin of 38.21%. Sell-side analysts anticipate that ServisFirst Bancshares, Inc. will post 3.84 EPS for the current year.

ServisFirst Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 10th. Shareholders of record on Monday, April 3rd were given a dividend of $0.28 per share. The ex-dividend date was Friday, March 31st. This represents a $1.12 annualized dividend and a yield of 2.54%. ServisFirst Bancshares’s payout ratio is 24.30%.

Insider Buying and Selling at ServisFirst Bancshares

In other news, CEO Thomas A. Broughton acquired 3,000 shares of the business’s stock in a transaction on Thursday, April 20th. The shares were acquired at an average cost of $49.95 per share, with a total value of $149,850.00. Following the transaction, the chief executive officer now owns 259,691 shares in the company, valued at approximately $12,971,565.45. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Thomas A. Broughton purchased 3,000 shares of the company’s stock in a transaction dated Thursday, April 20th. The shares were purchased at an average cost of $49.95 per share, with a total value of $149,850.00. Following the transaction, the chief executive officer now directly owns 259,691 shares in the company, valued at approximately $12,971,565.45. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Thomas A. Broughton purchased 2,775 shares of the company’s stock in a transaction dated Thursday, May 4th. The stock was bought at an average cost of $44.60 per share, for a total transaction of $123,765.00. Following the completion of the transaction, the chief executive officer now owns 2,775 shares in the company, valued at $123,765. The disclosure for this purchase can be found here. In the last three months, insiders have bought 10,295 shares of company stock valued at $514,244. 8.22% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

SFBS has been the topic of a number of research analyst reports. Piper Sandler reduced their price target on ServisFirst Bancshares from $60.00 to $52.00 in a report on Tuesday, April 18th. Raymond James initiated coverage on ServisFirst Bancshares in a report on Thursday, April 6th. They set a “market perform” rating on the stock. Finally, StockNews.com upgraded ServisFirst Bancshares to a “sell” rating in a report on Tuesday, May 16th.

ServisFirst Bancshares Profile

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ServisFirst Bancshares, Inc is a bank holding company, which engages in the provision of consumer and commercial banking services. It also offers other loans and accept deposits, electronic banking such as online and mobile banking, remote deposit capture, deliver treasury and cash management, and correspondent banking to other financial institutions.