ServisFirst Bancshares, Inc. (SFBS) Cut to Hold at Zacks Investment Research
Zacks Investment Research downgraded shares of ServisFirst Bancshares, Inc. (NASDAQ:SFBS) from a buy rating to a hold rating in a report published on Wednesday 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. “
Several other brokerages have also issued reports on SFBS. Stephens reaffirmed a hold rating and set a $38.00 target price on shares of ServisFirst Bancshares in a research report on Wednesday, July 19th. BidaskClub downgraded ServisFirst Bancshares from a sell rating to a strong sell rating in a research note on Wednesday, June 28th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $37.67.
ServisFirst Bancshares (NASDAQ:SFBS) traded up 0.26% during midday trading on Wednesday, hitting $34.20. The company had a trading volume of 52,530 shares. ServisFirst Bancshares has a 52 week low of $24.69 and a 52 week high of $42.66. The stock has a 50 day moving average price of $35.26 and a 200-day moving average price of $36.92. The stock has a market capitalization of $1.81 billion, a PE ratio of 20.73 and a beta of 1.41.
ServisFirst Bancshares (NASDAQ:SFBS) last announced its earnings results on Thursday, July 20th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.02. ServisFirst Bancshares had a return on equity of 16.67% and a net margin of 35.15%. The company had revenue of $60.37 million for the quarter, compared to analyst estimates of $60.33 million. On average, equities analysts predict that ServisFirst Bancshares will post $1.80 EPS for the current year.
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In other ServisFirst Bancshares news, EVP Rex D. Mckinney sold 75,000 shares of the stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $33.55, for a total transaction of $2,516,250.00. Following the transaction, the executive vice president now owns 105,340 shares in the company, valued at $3,534,157. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 14.04% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. LS Investment Advisors LLC boosted its position in shares of ServisFirst Bancshares by 121.6% in the first quarter. LS Investment Advisors LLC now owns 3,700 shares of the financial services provider’s stock worth $135,000 after buying an additional 2,030 shares during the last quarter. Fisher Asset Management LLC boosted its stake in ServisFirst Bancshares by 32.0% in the second quarter. Fisher Asset Management LLC now owns 136,074 shares of the financial services provider’s stock valued at $5,020,000 after buying an additional 32,957 shares in the last quarter. Bank of Montreal Can boosted its stake in ServisFirst Bancshares by 256.0% in the first quarter. Bank of Montreal Can now owns 3,204 shares of the financial services provider’s stock valued at $117,000 after buying an additional 2,304 shares in the last quarter. BlackRock Inc. boosted its stake in ServisFirst Bancshares by 146,046.5% in the first quarter. BlackRock Inc. now owns 5,451,265 shares of the financial services provider’s stock valued at $198,318,000 after buying an additional 5,447,535 shares in the last quarter. Finally, State Street Corp boosted its stake in ServisFirst Bancshares by 22.7% in the first quarter. State Street Corp now owns 1,430,993 shares of the financial services provider’s stock valued at $52,056,000 after buying an additional 264,493 shares in the last quarter. 42.55% of the stock is owned by institutional investors and hedge funds.
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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