ServisFirst Bancshares (NYSE:SFBS) Sets New 1-Year High – What’s Next?

ServisFirst Bancshares, Inc. (NYSE:SFBS)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $90.86 and last traded at $89.79, with a volume of 27849 shares traded. The stock had previously closed at $89.50.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on SFBS shares. Piper Sandler boosted their price target on shares of ServisFirst Bancshares from $91.00 to $94.00 and gave the company an “overweight” rating in a research report on Tuesday, July 21st. Weiss Ratings raised ServisFirst Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $95.33.

ServisFirst Bancshares Trading Up 1.0%

The stock has a market cap of $4.97 billion, a P/E ratio of 15.48 and a beta of 0.86. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.02. The stock’s fifty day moving average price is $84.15 and its 200 day moving average price is $80.78.

ServisFirst Bancshares shares are scheduled to split on the morning of Friday, August 21st. The 2-1 split was announced on Monday, July 20th. The newly minted shares will be distributed to shareholders after the closing bell on Thursday, August 20th.

ServisFirst Bancshares (NYSE:SFBS) last issued its quarterly earnings results on Monday, July 20th. The financial services provider reported $1.57 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.57. ServisFirst Bancshares had a net margin of 30.95% and a return on equity of 17.42%. The company had revenue of $168.53 million during the quarter, compared to analyst estimates of $167.85 million. Equities research analysts expect that ServisFirst Bancshares, Inc. will post 6.46 earnings per share for the current year.

ServisFirst Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Wednesday, July 1st were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Wednesday, July 1st. ServisFirst Bancshares’s dividend payout ratio (DPR) is presently 25.89%.

Institutional Trading of ServisFirst Bancshares

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Salomon & Ludwin LLC increased its position in ServisFirst Bancshares by 523.6% during the 4th quarter. Salomon & Ludwin LLC now owns 343 shares of the financial services provider’s stock valued at $25,000 after buying an additional 288 shares in the last quarter. State of Wyoming purchased a new stake in shares of ServisFirst Bancshares in the second quarter worth $29,000. Danske Bank A S purchased a new stake in shares of ServisFirst Bancshares in the third quarter worth $32,000. CWM LLC increased its holdings in shares of ServisFirst Bancshares by 17.3% during the fourth quarter. CWM LLC now owns 955 shares of the financial services provider’s stock valued at $69,000 after acquiring an additional 141 shares in the last quarter. Finally, Covestor Ltd raised its position in shares of ServisFirst Bancshares by 111.1% in the 4th quarter. Covestor Ltd now owns 1,195 shares of the financial services provider’s stock worth $86,000 after purchasing an additional 629 shares during the last quarter. Hedge funds and other institutional investors own 67.31% of the company’s stock.

About ServisFirst Bancshares

ServisFirst Bancshares, Inc is a bank holding company headquartered in Birmingham, Alabama, and the parent of ServisFirst Bank. The company specializes in commercial banking services, catering primarily to small and mid-sized businesses, professionals and entrepreneurs. Its product portfolio encompasses commercial real estate lending, commercial and industrial loans, deposit accounts, treasury management and other ancillary banking products designed to meet the financial needs of its clients.

ServisFirst Bank offers a full suite of deposit products, including interest-bearing checking, money market accounts and certificates of deposit, as well as a variety of loan products.