ServisFirst Bancshares (NYSE:SFBS) Shares Cross Below 200 Day Moving Average – Here’s What Happened

ServisFirst Bancshares, Inc. (NYSE:SFBS)’s share price crossed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $40.75 and traded as low as $40.67. ServisFirst Bancshares shares last traded at $40.7070, with a volume of 471,950 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SFBS. Piper Sandler dropped their price objective on ServisFirst Bancshares from $47.00 to $46.00 and set an “overweight” rating for the company in a report on Friday, October 2nd. Zacks Research lowered shares of ServisFirst Bancshares from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 20th. Weiss Ratings upgraded ServisFirst Bancshares from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, October 9th. Raymond James Financial cut shares of ServisFirst Bancshares from a “strong-buy” rating to an “outperform” rating and cut their price target for the company from $50.00 to $45.00 in a report on Tuesday, October 6th. Finally, Wall Street Zen downgraded ServisFirst Bancshares from a “buy” rating to a “hold” rating in a report on Sunday, August 30th. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.50.

ServisFirst Bancshares Trading Down 0.9%

The company has a fifty day moving average price of $41.23 and a 200 day moving average price of $40.75.

ServisFirst Bancshares (NYSE:SFBS) last announced its quarterly earnings results on Monday, October 19th. The financial services provider reported $0.80 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.03). The firm had revenue of $172.93 million during the quarter, compared to analyst estimates of $173.13 million. On average, sell-side analysts predict that ServisFirst Bancshares, Inc. will post 3.18 EPS for the current fiscal year.

ServisFirst Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 9th. Investors of record on Thursday, October 1st were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Thursday, October 1st.

Institutional Investors Weigh In On ServisFirst Bancshares

Several large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in ServisFirst Bancshares in the second quarter valued at $670,908,000. Davis Asset Management L.P. bought a new position in shares of ServisFirst Bancshares during the second quarter worth about $78,975,000. Copeland Capital Management LLC acquired a new stake in shares of ServisFirst Bancshares in the 1st quarter worth about $54,879,000. Arete Wealth Advisors LLC acquired a new stake in shares of ServisFirst Bancshares in the 1st quarter worth about $33,348,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of ServisFirst Bancshares in the 2nd quarter worth about $35,791,000. 67.31% of the stock is owned by institutional investors and hedge funds.

ServisFirst Bancshares Company Profile

ServisFirst Bancshares, Inc is a bank holding company headquartered in Birmingham, Alabama. Its principal subsidiary, ServisFirst Bank, provides commercial and consumer banking services to businesses, professionals and individuals.

The bank offers deposit accounts, commercial and residential real estate lending, business loans, treasury management, private banking, mortgage services and wealth management. It emphasizes relationship-based banking and serves clients through banking offices and digital channels.

Founded in 2005, ServisFirst Bank has expanded beyond Alabama into markets including Florida, Georgia, Tennessee, South Carolina, North Carolina and Virginia.