Illinois Municipal Retirement Fund Sells 2,693 Shares of ServisFirst Bancshares, Inc. (NASDAQ:SFBS)

Illinois Municipal Retirement Fund reduced its position in ServisFirst Bancshares, Inc. (NASDAQ:SFBS) by 9.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,784 shares of the financial services provider’s stock after selling 2,693 shares during the period. Illinois Municipal Retirement Fund’s holdings in ServisFirst Bancshares were worth $1,785,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC bought a new position in shares of ServisFirst Bancshares in the 3rd quarter worth $52,000. Strs Ohio bought a new position in ServisFirst Bancshares during the 3rd quarter valued at $67,000. Xponance Inc. bought a new position in ServisFirst Bancshares during the 4th quarter valued at $205,000. Mackenzie Financial Corp bought a new position in ServisFirst Bancshares during the 4th quarter valued at $207,000. Finally, Arete Wealth Advisors LLC bought a new position in ServisFirst Bancshares during the 3rd quarter valued at $208,000. 67.31% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. StockNews.com upgraded ServisFirst Bancshares to a “sell” rating in a research note on Tuesday, January 23rd. Piper Sandler raised their price objective on ServisFirst Bancshares from $55.00 to $64.00 and gave the company a “neutral” rating in a research note on Tuesday, January 30th.

ServisFirst Bancshares Trading Down 0.8 %

Shares of ServisFirst Bancshares stock opened at $60.77 on Friday. ServisFirst Bancshares, Inc. has a 1 year low of $39.27 and a 1 year high of $70.84. The firm has a market cap of $3.31 billion, a PE ratio of 16.08 and a beta of 0.88. The stock has a fifty day moving average price of $62.79 and a 200-day moving average price of $59.58. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.94 and a quick ratio of 0.94.

ServisFirst Bancshares (NASDAQ:SFBS) last announced its earnings results on Monday, January 29th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.04. ServisFirst Bancshares had a return on equity of 14.65% and a net margin of 22.31%. The firm had revenue of $109.07 million during the quarter, compared to analyst estimates of $107.00 million. Equities research analysts anticipate that ServisFirst Bancshares, Inc. will post 3.75 EPS for the current year.

ServisFirst Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 9th. Investors of record on Monday, April 1st were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.97%. The ex-dividend date was Thursday, March 28th. ServisFirst Bancshares’s dividend payout ratio (DPR) is currently 32.88%.

ServisFirst Bancshares Profile

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, including 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.