Stonegate Investment Group LLC Has $74.06 Million Position in ServisFirst Bancshares, Inc. $SFBS

Stonegate Investment Group LLC cut its stake in shares of ServisFirst Bancshares, Inc. (NYSE:SFBS) by 1.9% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 919,701 shares of the financial services provider’s stock after selling 17,968 shares during the period. ServisFirst Bancshares comprises approximately 1.7% of Stonegate Investment Group LLC’s holdings, making the stock its 21st largest position. Stonegate Investment Group LLC owned approximately 1.68% of ServisFirst Bancshares worth $74,063,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. State of Wyoming purchased a new position in shares of ServisFirst Bancshares during the 2nd quarter valued at $29,000. Ameritas Advisory Services LLC purchased a new stake in shares of ServisFirst Bancshares during the second quarter worth $30,000. GAMMA Investing LLC increased its position in ServisFirst Bancshares by 20.3% in the 3rd quarter. GAMMA Investing LLC now owns 1,356 shares of the financial services provider’s stock worth $109,000 after purchasing an additional 229 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of ServisFirst Bancshares by 106.9% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,680 shares of the financial services provider’s stock worth $135,000 after purchasing an additional 868 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of ServisFirst Bancshares by 6.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,094 shares of the financial services provider’s stock valued at $162,000 after buying an additional 125 shares in the last quarter. Hedge funds and other institutional investors own 67.31% of the company’s stock.

ServisFirst Bancshares Stock Down 0.2%

ServisFirst Bancshares stock opened at $81.84 on Tuesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.97 and a quick ratio of 0.97. ServisFirst Bancshares, Inc. has a fifty-two week low of $66.48 and a fifty-two week high of $93.90. The firm has a fifty day moving average price of $74.22 and a two-hundred day moving average price of $77.82. The firm has a market cap of $4.47 billion, a price-to-earnings ratio of 16.17 and a beta of 0.93.

ServisFirst Bancshares (NYSE:SFBS) last posted its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.20. ServisFirst Bancshares had a return on equity of 16.36% and a net margin of 26.95%.The business had revenue of $162.21 million for the quarter, compared to analyst estimates of $151.82 million. As a group, analysts forecast that ServisFirst Bancshares, Inc. will post 5.17 earnings per share for the current year.

ServisFirst Bancshares Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 13th. Stockholders of record on Friday, January 2nd were paid a $0.38 dividend. The ex-dividend date was Friday, January 2nd. This is a positive change from ServisFirst Bancshares’s previous quarterly dividend of $0.34. This represents a $1.52 annualized dividend and a dividend yield of 1.9%. ServisFirst Bancshares’s dividend payout ratio is 30.04%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SFBS. Piper Sandler raised shares of ServisFirst Bancshares from a “neutral” rating to an “overweight” rating and set a $89.00 price objective on the stock in a research report on Wednesday, January 21st. Zacks Research upgraded shares of ServisFirst Bancshares from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 22nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ServisFirst Bancshares in a research note on Monday, December 29th. Hovde Group upgraded shares of ServisFirst Bancshares from a “market perform” rating to an “outperform” rating and set a $89.00 price objective for the company in a report on Friday, December 19th. Finally, Raymond James Financial raised shares of ServisFirst Bancshares from an “outperform” rating to a “strong-buy” rating and set a $95.00 target price on the stock in a research report on Wednesday, January 21st. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $91.00.

ServisFirst Bancshares Company Profile

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.