ServisFirst Bancshares (NYSE:SFBS) Stock Price Target Cut by Piper Sandler

Key Points

• Piper Sandler lowered ServisFirst Bancshares’ price target from $47 to $46 while maintaining an “overweight” rating, implying 14.73% upside from the prior close.
• Analyst sentiment remains broadly positive, with the stock carrying a consensus “Buy” rating and an average price target of $47.33, despite recent downgrades from Wall Street Zen and Weiss Ratings.
• SFBS shares rose 0.9% to $40.09, while the company’s latest quarterly results met EPS expectations at $0.78 and slightly exceeded revenue estimates; institutional investors own 67.31% of the stock.

ServisFirst Bancshares (NYSE:SFBS - Get Free Report) had its price target lowered by analysts at Piper Sandler from $47.00 to $46.00 in a report released on Friday, Benzinga reports. The brokerage currently has an "overweight" rating on the financial services provider's stock. Piper Sandler's price target would suggest a potential upside of 14.73% from the stock's previous close.

A number of other analysts have also commented on the company. Wall Street Zen lowered ServisFirst Bancshares from a "buy" rating to a "hold" rating in a report on Sunday, August 30th. Weiss Ratings lowered ServisFirst Bancshares from a "buy (b)" rating to a "buy (b-)" rating in a research report on Thursday, September 24th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $47.33.

ServisFirst Bancshares Stock Up 0.9%

SFBS stock traded up $0.34 during trading on Friday, reaching $40.09. The stock had a trading volume of 61,283 shares, compared to its average volume of 606,311. ServisFirst Bancshares has a one year low of $33.60 and a one year high of $46.04. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.02. The company's 50 day moving average is $43.14 and its two-hundred day moving average is $40.93. The company has a market capitalization of $4.38 billion, a price-to-earnings ratio of 13.70 and a beta of 0.91.

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

Hedge Funds Weigh In On ServisFirst Bancshares

A number of large investors have recently made changes to their positions in SFBS. Northwestern Mutual Wealth Management Co. boosted its position in shares of ServisFirst Bancshares by 11.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,551 shares of the financial services provider's stock worth $135,000 after purchasing an additional 163 shares in the last quarter. GAMMA Investing LLC raised its holdings in ServisFirst Bancshares by 23.9% in the 2nd quarter. GAMMA Investing LLC now owns 1,478 shares of the financial services provider's stock worth $128,000 after acquiring an additional 285 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in ServisFirst Bancshares by 3.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 8,462 shares of the financial services provider's stock valued at $616,000 after acquiring an additional 306 shares in the last quarter. HB Wealth Management LLC boosted its stake in ServisFirst Bancshares by 1.8% during the 1st quarter. HB Wealth Management LLC now owns 19,599 shares of the financial services provider's stock valued at $1,427,000 after purchasing an additional 353 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of ServisFirst Bancshares in the second quarter worth $31,000. 67.31% of the stock is owned by institutional investors.

About ServisFirst Bancshares

ServisFirst Bancshares, Inc is the bank holding company for ServisFirst Bank, a regional financial institution headquartered in Birmingham, Alabama. Founded in 2005, the company provides banking services primarily to businesses, professionals, and individuals through a relationship-focused operating model.

ServisFirst Bank offers commercial and consumer lending, deposit accounts, cash-management and treasury services, online and mobile banking, mortgage lending, and wealth-management solutions.

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