ServisFirst Bancshares, Inc. (SFBS) Upgraded by Zacks Investment Research to Buy
Zacks Investment Research upgraded shares of ServisFirst Bancshares, Inc. (NASDAQ:SFBS) from a hold rating to a buy rating in a report issued on Thursday. They currently have $38.00 price target on the financial services provider’s stock.
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 commented on SFBS. BidaskClub lowered ServisFirst Bancshares from a sell rating to a strong sell rating in a report on Wednesday, June 28th. Stephens reissued a hold rating and issued a $38.00 price objective on shares of ServisFirst Bancshares in a report on Wednesday, July 19th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. ServisFirst Bancshares has an average rating of Hold and an average price target of $37.67.
ServisFirst Bancshares (NASDAQ:SFBS) traded up 0.67% on Thursday, reaching $34.34. The company had a trading volume of 11,269 shares. The stock’s 50 day moving average is $35.31 and its 200-day moving average is $36.97. The stock has a market capitalization of $1.82 billion, a P/E ratio of 20.81 and a beta of 1.38. ServisFirst Bancshares has a 1-year low of $24.69 and a 1-year high of $42.66.
ServisFirst Bancshares (NASDAQ:SFBS) last issued its quarterly earnings data on Thursday, July 20th. The financial services provider reported $0.45 EPS for the quarter, beating the 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 fiscal year.
In other news, EVP Rex D. Mckinney sold 75,000 shares of the firm’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $33.55, for a total value 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 14.04% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the company. Teachers Advisors LLC increased its position in shares of ServisFirst Bancshares by 107.9% in the fourth quarter. Teachers Advisors LLC now owns 75,715 shares of the financial services provider’s stock worth $2,835,000 after buying an additional 39,297 shares during the last quarter. Bank of Montreal Can increased its position in shares of 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 worth $117,000 after buying an additional 2,304 shares during the last quarter. Louisiana State Employees Retirement System increased its position in shares of ServisFirst Bancshares by 1.7% in the first quarter. Louisiana State Employees Retirement System now owns 18,100 shares of the financial services provider’s stock worth $658,000 after buying an additional 300 shares during the last quarter. State of Alaska Department of Revenue increased its position in shares of ServisFirst Bancshares by 2.3% in the first quarter. State of Alaska Department of Revenue now owns 4,890 shares of the financial services provider’s stock worth $177,000 after buying an additional 110 shares during the last quarter. Finally, NJ State Employees Deferred Compensation Plan bought a new position in shares of ServisFirst Bancshares during the first quarter worth approximately $291,000. Hedge funds and other institutional investors own 42.55% of the company’s stock.
About ServisFirst Bancshares
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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