Zacks Investment Research upgraded shares of ServisFirst Bancshares, Inc. (NASDAQ:SFBS) from a sell rating to a hold rating in a report issued on Friday morning.
According to Zacks, “ServisFirst Bancshares Inc. is a bank holding company. Through its subsidiary, ServisFirst Bank, it provides business and personal financial services. It offers various deposit products; commercial lending products; commercial real estate loans, construction and development loans, and residential real estate loans; and consumer loans. ServisFirst Bancshares, Inc. is headquartered in Birmingham, Alabama. “
Shares of ServisFirst Bancshares (SFBS) opened at $39.96 on Friday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.09. ServisFirst Bancshares has a fifty-two week low of $30.91 and a fifty-two week high of $42.66. The firm has a market capitalization of $2,117.05, a P/E ratio of 22.97 and a beta of 1.44.
ServisFirst Bancshares (NASDAQ:SFBS) last issued its quarterly earnings results on Monday, October 16th. The financial services provider reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.02. ServisFirst Bancshares had a return on equity of 16.84% and a net margin of 35.08%. The firm had revenue of $63.19 million for the quarter, compared to the consensus estimate of $64.08 million. research analysts anticipate that ServisFirst Bancshares will post 1.82 EPS for the current year.
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In other news, Director James J. Filler acquired 3,546 shares of ServisFirst Bancshares stock in a transaction on Friday, September 8th. The shares were bought at an average cost of $32.79 per share, for a total transaction of $116,273.34. Following the acquisition, the director now directly owns 1,313,152 shares of the company’s stock, valued at approximately $43,058,254.08. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Bradford Alan Vieira sold 3,750 shares of the firm’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $34.38, for a total value of $128,925.00. Following the transaction, the executive vice president now owns 33,750 shares in the company, valued at $1,160,325. The disclosure for this sale can be found here. Insiders have sold a total of 54,750 shares of company stock worth $2,203,965 over the last 90 days. 14.04% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Ladenburg Thalmann Financial Services Inc. increased its holdings in ServisFirst Bancshares by 5.1% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 51,152 shares of the financial services provider’s stock worth $2,014,000 after purchasing an additional 2,500 shares during the period. Grandeur Peak Global Advisors LLC increased its holdings in ServisFirst Bancshares by 104.0% during the 3rd quarter. Grandeur Peak Global Advisors LLC now owns 35,500 shares of the financial services provider’s stock worth $1,379,000 after purchasing an additional 18,100 shares during the period. PEAK6 Investments L.P. purchased a new position in ServisFirst Bancshares during the 3rd quarter worth $316,000. Jacobs Asset Management LLC increased its holdings in ServisFirst Bancshares by 6.2% during the 3rd quarter. Jacobs Asset Management LLC now owns 229,794 shares of the financial services provider’s stock worth $8,927,000 after purchasing an additional 13,500 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in ServisFirst Bancshares by 10.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,168,833 shares of the financial services provider’s stock worth $45,409,000 after purchasing an additional 114,126 shares during the period. Institutional investors own 42.63% of the company’s stock.
ServisFirst Bancshares Company Profile
ServisFirst Bancshares, Inc is a bank holding company whose business is conducted by its subsidiary, ServisFirst Bank (the Bank). The Company’s principal business is to accept deposits from the public and to make loans and other investments. The Company, through its bank, originates commercial, consumer and other loans; accept deposits; provides electronic banking services, such as online and mobile banking, including remote deposit capture, deliver treasury and cash management services, and provides correspondent banking services to other financial institutions.
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