ServisFirst Bancshares (NYSE:SFBS) Downgraded to "Hold" Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded ServisFirst Bancshares from “Buy” to “Hold,” although the broader analyst consensus remains “Buy” with a $47.67 target price.
• ServisFirst reported quarterly earnings of $0.78 per share, matching estimates, while revenue of $168.53 million slightly exceeded expectations.
• The stock opened at $43.32, up 0.3%, with a $4.74 billion market capitalization; institutional investors and hedge funds own 67.31% of its shares.

ServisFirst Bancshares (NYSE:SFBS - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued to investors on Sunday.

Other research analysts have also issued reports about the company. Piper Sandler upped their price target on ServisFirst Bancshares from $45.50 to $47.00 and gave the stock an "overweight" rating in a report on Tuesday, July 21st. Weiss Ratings upgraded shares of ServisFirst Bancshares from a "hold (c+)" rating to a "buy (b-)" rating in a research note 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 given a Hold rating to the company. Based on data from MarketBeat.com, ServisFirst Bancshares presently has an average rating of "Buy" and a consensus target price of $47.67.

ServisFirst Bancshares Trading Up 0.3%

NYSE SFBS opened at $43.32 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.98 and a current ratio of 0.98. The firm's 50 day moving average price is $43.79 and its two-hundred day moving average price is $40.79. The stock has a market cap of $4.74 billion, a price-to-earnings ratio of 14.76 and a beta of 0.86. ServisFirst Bancshares has a twelve month low of $33.60 and a twelve month high of $46.04.

ServisFirst Bancshares (NYSE:SFBS - Get Free Report) last announced its earnings results on Monday, July 20th. The financial services provider reported $0.78 earnings per share for the quarter, meeting the consensus estimate of $0.78. The firm had revenue of $168.53 million during the quarter, compared to the consensus estimate of $167.85 million. ServisFirst Bancshares had a return on equity of 17.42% and a net margin of 30.95%. Equities analysts anticipate that ServisFirst Bancshares will post 3.23 EPS for the current year.

Hedge Funds Weigh In On ServisFirst Bancshares

Several large investors have recently added to or reduced their stakes in SFBS. Corient Private Wealth LP grew its holdings in shares of ServisFirst Bancshares by 17.9% during the 2nd quarter. Corient Private Wealth LP now owns 3,501 shares of the financial services provider's stock worth $304,000 after purchasing an additional 532 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of ServisFirst Bancshares during the second quarter valued at approximately $737,000. California State Teachers Retirement System raised its stake in shares of ServisFirst Bancshares by 8,886.1% in the second quarter. California State Teachers Retirement System now owns 5,162,579 shares of the financial services provider's stock valued at $447,854,000 after purchasing an additional 5,105,128 shares in the last quarter. Ameritas Advisory Services LLC acquired a new position in shares of ServisFirst Bancshares in the second quarter valued at $32,000. Finally, HB Wealth Management LLC raised its stake in shares of ServisFirst Bancshares by 6.9% in the second quarter. HB Wealth Management LLC now owns 20,952 shares of the financial services provider's stock valued at $1,818,000 after purchasing an additional 1,353 shares in the last quarter. Institutional investors and hedge funds own 67.31% of the company's stock.

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.

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