ServisFirst Bancshares (NASDAQ:SFBS) Upgraded to Hold by Zacks Investment Research

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Zacks Investment Research upgraded shares of ServisFirst Bancshares (NASDAQ:SFBS) from a sell rating to a hold rating in a research report sent to investors on Tuesday, Zacks.com reports.

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. “

Separately, BidaskClub upgraded ServisFirst Bancshares from a sell rating to a hold rating in a report on Thursday, September 12th.

Shares of SFBS opened at $33.56 on Tuesday. ServisFirst Bancshares has a 12 month low of $29.17 and a 12 month high of $41.30. The stock has a fifty day moving average price of $31.27 and a 200-day moving average price of $32.97. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.08. The firm has a market cap of $1.82 billion, a PE ratio of 13.26 and a beta of 1.32.

ServisFirst Bancshares (NASDAQ:SFBS) last issued its quarterly earnings data on Monday, July 15th. The financial services provider reported $0.66 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.03). ServisFirst Bancshares had a net margin of 36.49% and a return on equity of 19.37%. The business had revenue of $75.86 million for the quarter, compared to analysts’ expectations of $77.30 million. As a group, research analysts forecast that ServisFirst Bancshares will post 2.62 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Tuesday, October 1st will be issued a dividend of $0.15 per share. The ex-dividend date is Monday, September 30th. This represents a $0.60 annualized dividend and a dividend yield of 1.79%. ServisFirst Bancshares’s dividend payout ratio is presently 23.72%.

In other news, EVP Andrew N. Kattos bought 834 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The shares were purchased at an average cost of $30.75 per share, with a total value of $25,645.50. Following the transaction, the executive vice president now directly owns 121,834 shares in the company, valued at $3,746,395.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Bradford Alan Vieira sold 16,484 shares of the company’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $33.20, for a total value of $547,268.80. The disclosure for this sale can be found here. In the last quarter, insiders have bought 4,334 shares of company stock valued at $129,001. Company insiders own 13.56% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SFBS. Dimensional Fund Advisors LP increased its position in shares of ServisFirst Bancshares by 1.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,330,024 shares of the financial services provider’s stock valued at $42,388,000 after acquiring an additional 19,732 shares during the period. Geode Capital Management LLC increased its position in shares of ServisFirst Bancshares by 8.8% in the 4th quarter. Geode Capital Management LLC now owns 571,545 shares of the financial services provider’s stock valued at $18,215,000 after acquiring an additional 46,286 shares during the period. Rhumbline Advisers increased its position in shares of ServisFirst Bancshares by 0.8% in the 1st quarter. Rhumbline Advisers now owns 130,820 shares of the financial services provider’s stock valued at $4,416,000 after acquiring an additional 1,096 shares during the period. Comerica Bank increased its position in shares of ServisFirst Bancshares by 2.2% in the 1st quarter. Comerica Bank now owns 45,512 shares of the financial services provider’s stock valued at $1,580,000 after acquiring an additional 965 shares during the period. Finally, Texas Permanent School Fund increased its position in shares of ServisFirst Bancshares by 4.1% in the 1st quarter. Texas Permanent School Fund now owns 31,225 shares of the financial services provider’s stock valued at $1,054,000 after acquiring an additional 1,234 shares during the period. 47.26% of the stock is currently owned by hedge funds and other institutional investors.

About ServisFirst Bancshares

ServisFirst Bancshares, Inc operates as the bank holding company for ServisFirst Bank that provides banking services to individual and corporate customers in the United States. It offers demand, time, savings, and other deposits; checking, money market, and IRA accounts; and certificates of deposit. The company also provides commercial lending products, such as seasonal loans, bridge loans, and term loans for working capital, expansion of the business, or acquisition of property, 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.

Further Reading: Diluted Earnings Per Share

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