Citigroup Inc. Has $2.09 Million Stake in ServisFirst Bancshares, Inc. (NASDAQ:SFBS)

Citigroup Inc. increased its stake in shares of ServisFirst Bancshares, Inc. (NASDAQ:SFBS – Get Rating) by 23.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 30,345 shares of the financial services provider’s stock after acquiring an additional 5,816 shares during the period. Citigroup Inc.’s holdings in ServisFirst Bancshares were worth $2,091,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. BlackRock Inc. grew its holdings in shares of ServisFirst Bancshares by 1.2% during the 3rd quarter. BlackRock Inc. now owns 7,477,877 shares of the financial services provider’s stock worth $598,231,000 after purchasing an additional 88,214 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of ServisFirst Bancshares by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 5,314,624 shares of the financial services provider’s stock worth $425,170,000 after buying an additional 55,172 shares during the period. State Street Corp lifted its position in shares of ServisFirst Bancshares by 12.9% during the 2nd quarter. State Street Corp now owns 2,146,142 shares of the financial services provider’s stock worth $169,867,000 after buying an additional 245,142 shares during the period. Bank of New York Mellon Corp raised its position in ServisFirst Bancshares by 3.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 484,045 shares of the financial services provider’s stock valued at $38,724,000 after purchasing an additional 14,030 shares during the last quarter. Finally, Jarislowsky Fraser Ltd raised its position in ServisFirst Bancshares by 2.0% in the 3rd quarter. Jarislowsky Fraser Ltd now owns 302,245 shares of the financial services provider’s stock valued at $24,179,000 after purchasing an additional 6,059 shares during the last quarter. Institutional investors and hedge funds own 63.25% of the company’s stock.

ServisFirst Bancshares Stock Performance

Shares of ServisFirst Bancshares stock opened at $43.41 on Thursday. ServisFirst Bancshares, Inc. has a one year low of $41.45 and a one year high of $93.83. The firm has a market cap of $2.36 billion, a price-to-earnings ratio of 9.84 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 $50.06 and its 200-day moving average is $63.69.

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

ServisFirst Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 10th. Shareholders of record on Monday, April 3rd were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 2.58%. The ex-dividend date was Friday, March 31st. ServisFirst Bancshares’s payout ratio is presently 24.30%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SFBS. StockNews.com upgraded ServisFirst Bancshares to a “sell” rating in a research report on Tuesday, May 16th. Piper Sandler lowered their target price on ServisFirst Bancshares from $60.00 to $52.00 in a research note on Tuesday, April 18th. Finally, Raymond James assumed coverage on ServisFirst Bancshares in a research note on Thursday, April 6th. They issued a “market perform” rating for the company.

Insiders Place Their Bets

In other news, 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 purchase, the chief executive officer now owns 2,775 shares of the company’s stock, valued at $123,765. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Thomas A. Broughton purchased 3,000 shares of the business’s stock in a transaction on Thursday, April 20th. The stock was acquired at an average price of $49.95 per share, for a total transaction of $149,850.00. Following the purchase, the chief executive officer now owns 259,691 shares of the company’s stock, valued at $12,971,565.45. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Thomas A. Broughton bought 2,775 shares of the company’s stock in a transaction on Thursday, May 4th. The shares were purchased at an average cost of $44.60 per share, for a total transaction of $123,765.00. Following 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. Insiders acquired 10,295 shares of company stock worth $514,244 over the last three months. Insiders own 8.22% of the company’s stock.

ServisFirst Bancshares Company 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.