ServisFirst Bancshares (NYSE:SFBS) Posts Quarterly Earnings Results, Misses Expectations By $0.03 EPS

Key Points

• ServisFirst Bancshares reported quarterly EPS of $0.80, missing analysts’ $0.83 estimate by $0.03. Revenue was $172.93 million, slightly below the $173.13 million consensus.
• Shares fell $0.67 to $38.70 following the results. The company reported a 30.95% net margin and 17.42% return on equity.
• ServisFirst declared a quarterly dividend of $0.19 per share, representing $0.76 annually and a 2.0% yield. Analysts maintain a “Moderate Buy” consensus with a $46.50 target price.

ServisFirst Bancshares (NYSE:SFBS - Get Free Report) issued its earnings results on Monday. The financial services provider reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.03), FiscalAI reports. The business had revenue of $172.93 million for the quarter, compared to analyst estimates of $173.13 million. ServisFirst Bancshares had a net margin of 30.95% and a return on equity of 17.42%.

ServisFirst Bancshares Price Performance

SFBS stock traded down $0.67 during trading on Monday, hitting $38.70. 440,176 shares of the stock traded hands, compared to its average volume of 607,098. ServisFirst Bancshares has a one year low of $33.60 and a one year high of $46.04. The stock has a market cap of $4.23 billion, a price-to-earnings ratio of 13.18 and a beta of 0.91. The company has a 50 day simple moving average of $41.87 and a 200 day simple moving average of $41.11. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.02.

ServisFirst Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 9th. Investors of record on Thursday, October 1st were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Thursday, October 1st. ServisFirst Bancshares's dividend payout ratio (DPR) is currently 25.94%.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Piper Sandler dropped their price target on shares of ServisFirst Bancshares from $47.00 to $46.00 and set an "overweight" rating for the company in a research report on Friday, October 2nd. Wall Street Zen cut shares of ServisFirst Bancshares from a "buy" rating to a "hold" rating in a research note on Sunday, August 30th. Raymond James Financial downgraded ServisFirst Bancshares from a "strong-buy" rating to an "outperform" rating and decreased their price objective for the company from $50.00 to $45.00 in a report on Tuesday, October 6th. Finally, Weiss Ratings upgraded ServisFirst Bancshares from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, October 9th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, ServisFirst Bancshares has a consensus rating of "Moderate Buy" and a consensus target price of $46.50.

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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