ServisFirst Bancshares, Inc. $SFBS Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC lowered its holdings in ServisFirst Bancshares, Inc. (NYSE:SFBS) by 0.3% in the second quarter, Holdings Channel.com reports. The fund owned 1,177,700 shares of the financial services provider’s stock after selling 3,993 shares during the quarter. Geode Capital Management LLC’s holdings in ServisFirst Bancshares were worth $91,293,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Bank of Montreal Can grew its stake in shares of ServisFirst Bancshares by 0.5% during the 2nd quarter. Bank of Montreal Can now owns 28,507 shares of the financial services provider’s stock worth $2,210,000 after purchasing an additional 142 shares during the period. Wallace Advisory Group LLC grew its position in ServisFirst Bancshares by 4.0% during the second quarter. Wallace Advisory Group LLC now owns 3,852 shares of the financial services provider’s stock worth $318,000 after buying an additional 149 shares during the period. Moody National Bank Trust Division grew its position in ServisFirst Bancshares by 5.6% during the second quarter. Moody National Bank Trust Division now owns 3,000 shares of the financial services provider’s stock worth $233,000 after buying an additional 160 shares during the period. Precision Wealth Strategies LLC lifted its position in shares of ServisFirst Bancshares by 2.3% during the 2nd quarter. Precision Wealth Strategies LLC now owns 7,889 shares of the financial services provider’s stock valued at $611,000 after acquiring an additional 180 shares during the period. Finally, Quarry LP boosted its stake in shares of ServisFirst Bancshares by 52.8% during the 1st quarter. Quarry LP now owns 544 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 188 shares in the last quarter. 67.31% of the stock is currently owned by hedge funds and other institutional investors.

ServisFirst Bancshares Stock Performance

NYSE SFBS opened at $70.42 on Friday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.04. ServisFirst Bancshares, Inc. has a fifty-two week low of $66.48 and a fifty-two week high of $101.37. The business has a fifty day moving average of $75.90 and a 200-day moving average of $78.26. The stock has a market cap of $3.85 billion, a price-to-earnings ratio of 15.08 and a beta of 0.87.

ServisFirst Bancshares (NYSE:SFBS) last posted its quarterly earnings data on Tuesday, August 10th. The financial services provider reported $1.07 EPS for the quarter. ServisFirst Bancshares had a return on equity of 15.67% and a net margin of 25.24%.The business had revenue of $104.27 million for the quarter. As a group, analysts predict that ServisFirst Bancshares, Inc. will post 5.17 earnings per share for the current fiscal year.

ServisFirst Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Wednesday, October 1st were issued a dividend of $0.335 per share. The ex-dividend date was Wednesday, October 1st. This represents a $1.34 dividend on an annualized basis and a dividend yield of 1.9%. ServisFirst Bancshares’s payout ratio is 28.69%.

Analyst Ratings Changes

Several research firms recently weighed in on SFBS. Piper Sandler dropped their price objective on ServisFirst Bancshares from $90.00 to $80.00 and set a “neutral” rating for the company in a research note on Tuesday, October 21st. Raymond James Financial upgraded ServisFirst Bancshares from a “market perform” rating to an “outperform” rating and set a $95.00 price target for the company in a research report on Tuesday, October 7th. Hovde Group cut their price target on ServisFirst Bancshares from $92.00 to $85.00 and set a “market perform” rating for the company in a research note on Tuesday, October 21st. Weiss Ratings reiterated a “hold (c)” rating on shares of ServisFirst Bancshares in a research report on Monday. Finally, Zacks Research cut shares of ServisFirst Bancshares from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 22nd. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, ServisFirst Bancshares has an average rating of “Hold” and a consensus price target of $86.67.

ServisFirst Bancshares Company Profile

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, including 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.