Summit Securities Group LLC Invests $613,000 in ServisFirst Bancshares, Inc. (SFBS)
Summit Securities Group LLC bought a new position in ServisFirst Bancshares, Inc. (NASDAQ:SFBS) during the second quarter, Holdings Channel reports. The firm bought 16,621 shares of the financial services provider’s stock, valued at approximately $613,000.
Several other large investors also recently made changes to their positions in the company. 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 in the last quarter. LS Investment Advisors LLC increased its position in shares of ServisFirst Bancshares by 121.6% in the first quarter. LS Investment Advisors LLC now owns 3,700 shares of the financial services provider’s stock worth $135,000 after buying an additional 2,030 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new position in shares of ServisFirst Bancshares during the first quarter worth $145,000. 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 in the last quarter. Finally, OMERS ADMINISTRATION Corp acquired a new position in shares of ServisFirst Bancshares during the first quarter worth $269,000. 43.39% of the stock is currently owned by institutional investors.
ServisFirst Bancshares, Inc. (NASDAQ SFBS) opened at 34.09 on Friday. ServisFirst Bancshares, Inc. has a 52 week low of $24.69 and a 52 week high of $42.66. The firm has a 50-day moving average price of $36.37 and a 200-day moving average price of $37.52. The stock has a market cap of $1.80 billion, a P/E ratio of 20.66 and a beta of 1.38.
ServisFirst Bancshares (NASDAQ:SFBS) last released its quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $60.37 million for the quarter, compared to the consensus estimate of $60.33 million. On average, equities research analysts predict that ServisFirst Bancshares, Inc. will post $1.80 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, July 14th. Shareholders of record on Monday, July 3rd were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.59%. The ex-dividend date was Thursday, June 29th. ServisFirst Bancshares’s dividend payout ratio is 12.05%.
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A number of research analysts have recently weighed in on the company. Zacks Investment Research downgraded ServisFirst Bancshares from a “buy” rating to a “hold” rating in a report on Thursday, July 20th. BidaskClub downgraded ServisFirst Bancshares from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 28th. Stephens reiterated a “hold” rating and set a $38.00 price target on shares of ServisFirst Bancshares in a report on Wednesday, July 19th. Finally, Hovde Group upgraded ServisFirst Bancshares from an “underperform” rating to a “market perform” rating and set a $37.00 target price on the stock in a research note on Tuesday, April 18th. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $49.75.
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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