ServisFirst Bancshares (NASDAQ:SFBS) Posts Quarterly Earnings Results, Meets Expectations

ServisFirst Bancshares (NASDAQ:SFBS – Get Rating) announced its quarterly earnings results on Monday. The financial services provider reported $1.24 EPS for the quarter, meeting analysts’ consensus estimates of $1.24, Yahoo Finance reports. ServisFirst Bancshares had a net margin of 42.44% and a return on equity of 20.48%. The firm had revenue of $177.24 million during the quarter, compared to the consensus estimate of $138.50 million.

ServisFirst Bancshares Price Performance

Shares of SFBS stock opened at $64.82 on Wednesday. The stock has a 50 day moving average price of $71.20 and a 200 day moving average price of $78.28. ServisFirst Bancshares has a 52-week low of $63.53 and a 52-week high of $97.25. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a market capitalization of $3.52 billion, a P/E ratio of 15.84 and a beta of 0.92.

ServisFirst Bancshares Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 6th. Stockholders of record on Tuesday, January 3rd were paid a dividend of $0.28 per share. This is a boost from ServisFirst Bancshares’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Friday, December 30th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.73%. ServisFirst Bancshares’s dividend payout ratio is currently 25.69%.

Institutional Trading of ServisFirst Bancshares

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Point72 Hong Kong Ltd increased its stake in ServisFirst Bancshares by 1,043.6% in the 2nd quarter. Point72 Hong Kong Ltd now owns 2,230 shares of the financial services provider’s stock worth $176,000 after buying an additional 2,035 shares during the period. Advisor Group Holdings Inc. raised its stake in shares of ServisFirst Bancshares by 110.2% during the first quarter. Advisor Group Holdings Inc. now owns 2,457 shares of the financial services provider’s stock valued at $253,000 after acquiring an additional 1,288 shares in the last quarter. Jane Street Group LLC boosted its holdings in shares of ServisFirst Bancshares by 17.8% in the second quarter. Jane Street Group LLC now owns 2,973 shares of the financial services provider’s stock valued at $235,000 after purchasing an additional 449 shares during the period. Evergreen Capital Management LLC grew its stake in ServisFirst Bancshares by 9.1% in the first quarter. Evergreen Capital Management LLC now owns 3,128 shares of the financial services provider’s stock worth $298,000 after purchasing an additional 261 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new position in ServisFirst Bancshares during the 1st quarter worth $591,000. Hedge funds and other institutional investors own 63.25% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on SFBS. StockNews.com lowered ServisFirst Bancshares from a “hold” rating to a “sell” rating in a research note on Thursday, December 15th. Piper Sandler cut their price objective on shares of ServisFirst Bancshares from $72.00 to $67.00 and set a “neutral” rating on the stock in a research report on Tuesday.

ServisFirst Bancshares Company Profile

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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, such as 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.