Parametric Portfolio Associates LLC Grows Stake in ServisFirst Bancshares, Inc. (NASDAQ:SFBS)

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Parametric Portfolio Associates LLC grew its position in shares of ServisFirst Bancshares, Inc. (NASDAQ:SFBS) by 16.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,448 shares of the financial services provider’s stock after purchasing an additional 4,954 shares during the period. Parametric Portfolio Associates LLC owned approximately 0.07% of ServisFirst Bancshares worth $1,214,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Northern Trust Corp grew its position in shares of ServisFirst Bancshares by 1.8% during the 2nd quarter. Northern Trust Corp now owns 624,123 shares of the financial services provider’s stock valued at $21,382,000 after purchasing an additional 10,861 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of ServisFirst Bancshares by 2.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 603,367 shares of the financial services provider’s stock valued at $20,672,000 after purchasing an additional 15,349 shares in the last quarter. Davis Capital Partners LLC grew its position in shares of ServisFirst Bancshares by 15.2% during the 2nd quarter. Davis Capital Partners LLC now owns 1,300,000 shares of the financial services provider’s stock valued at $44,538,000 after purchasing an additional 171,182 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of ServisFirst Bancshares by 3.1% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 272,190 shares of the financial services provider’s stock valued at $9,326,000 after purchasing an additional 8,239 shares in the last quarter. Finally, Oppenheimer & Co. Inc. purchased a new position in shares of ServisFirst Bancshares during the 2nd quarter valued at $223,000. Hedge funds and other institutional investors own 47.26% of the company’s stock.

Shares of NASDAQ:SFBS opened at $33.13 on Friday. ServisFirst Bancshares, Inc. has a 52-week low of $29.17 and a 52-week high of $39.72. The firm has a fifty day moving average of $32.04 and a 200 day moving average of $32.84. The firm has a market capitalization of $1.73 billion, a PE ratio of 12.35 and a beta of 1.32. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.99 and a current ratio of 0.99.

ServisFirst Bancshares (NASDAQ:SFBS) last announced its earnings results on Monday, July 15th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.03). ServisFirst Bancshares had a return on equity of 19.37% and a net margin of 36.49%. The company had revenue of $75.86 million during the quarter, compared to analysts’ expectations of $77.30 million. On average, sell-side analysts forecast that ServisFirst Bancshares, Inc. will post 2.62 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Tuesday, October 1st were given a $0.15 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.60 annualized dividend and a yield of 1.81%. ServisFirst Bancshares’s dividend payout ratio (DPR) is presently 23.72%.

In related news, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James J. Filler purchased 2,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were acquired at an average price of $29.44 per share, with a total value of $58,880.00. The disclosure for this purchase can be found here. Insiders purchased 4,334 shares of company stock valued at $129,001 over the last quarter. 13.56% of the stock is owned by company insiders.

A number of research firms have recently commented on SFBS. ValuEngine upgraded shares of ServisFirst Bancshares from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. BidaskClub upgraded shares of ServisFirst Bancshares from a “sell” rating to a “hold” rating in a research report on Thursday, September 12th. DA Davidson assumed coverage on shares of ServisFirst Bancshares in a research report on Wednesday. They issued a “neutral” rating and a $35.00 target price for the company. Finally, Zacks Investment Research upgraded shares of ServisFirst Bancshares from a “sell” rating to a “hold” rating in a research report on Tuesday, September 17th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. ServisFirst Bancshares presently has a consensus rating of “Hold” and an average price target of $36.00.

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.

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Institutional Ownership by Quarter for ServisFirst Bancshares (NASDAQ:SFBS)

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