Bank of New York Mellon Corp Sells 8,529 Shares of ServisFirst Bancshares, Inc. (NYSE:SFBS)

Bank of New York Mellon Corp cut its stake in shares of ServisFirst Bancshares, Inc. (NYSE:SFBS - Free Report) by 1.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 455,877 shares of the financial services provider's stock after selling 8,529 shares during the period. Bank of New York Mellon Corp owned 0.83% of ServisFirst Bancshares worth $37,655,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Quarry LP bought a new position in shares of ServisFirst Bancshares during the fourth quarter worth approximately $30,000. Sterling Capital Management LLC increased its stake in ServisFirst Bancshares by 761.6% in the fourth quarter. Sterling Capital Management LLC now owns 1,189 shares of the financial services provider's stock valued at $101,000 after acquiring an additional 1,051 shares during the last quarter. KBC Group NV increased its stake in ServisFirst Bancshares by 6.0% in the first quarter. KBC Group NV now owns 2,466 shares of the financial services provider's stock valued at $204,000 after acquiring an additional 140 shares during the last quarter. Advisors Capital Management LLC bought a new position in ServisFirst Bancshares in the fourth quarter valued at approximately $210,000. Finally, Occudo Quantitative Strategies LP bought a new position in ServisFirst Bancshares in the fourth quarter valued at approximately $219,000. 67.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Piper Sandler decreased their price objective on shares of ServisFirst Bancshares from $96.00 to $84.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 22nd.

ServisFirst Bancshares Price Performance

NYSE:SFBS traded up $0.23 during mid-day trading on Friday, reaching $83.21. The stock had a trading volume of 80,464 shares, compared to its average volume of 228,410. The stock has a 50-day simple moving average of $76.86 and a two-hundred day simple moving average of $80.28. The stock has a market capitalization of $4.54 billion, a PE ratio of 18.91 and a beta of 0.84. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.96 and a quick ratio of 0.96. ServisFirst Bancshares, Inc. has a 12 month low of $66.48 and a 12 month high of $101.37.

ServisFirst Bancshares (NYSE:SFBS - Get Free Report) last posted its earnings results on Monday, April 21st. The financial services provider reported $1.16 earnings per share for the quarter, missing analysts' consensus estimates of $1.18 by ($0.02). The company had revenue of $131.83 million for the quarter, compared to the consensus estimate of $134.13 million. ServisFirst Bancshares had a return on equity of 15.11% and a net margin of 24.16%. During the same period in the previous year, the firm posted $0.94 EPS. On average, equities analysts anticipate that ServisFirst Bancshares, Inc. will post 5.17 earnings per share for the current year.

ServisFirst Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Tuesday, July 1st were paid a dividend of $0.335 per share. The ex-dividend date of this dividend was Tuesday, July 1st. This represents a $1.34 dividend on an annualized basis and a dividend yield of 1.61%. ServisFirst Bancshares's payout ratio is presently 30.45%.

ServisFirst Bancshares Company Profile

ServisFirst Bancshares, Inc operates as the bank holding company for ServisFirst Bank that provides various banking services to individual and corporate customers. It accepts demand, time, savings, and other deposits; checking, money market, and IRA accounts; and certificates of deposit. The company's loan products include commercial lending products, including seasonal, bridge, and term loans for working capital, expansion of the business, acquisition of property, and plant and equipment, as well as commercial lines of credit; commercial real estate loans, construction and development loans, and residential real estate loans; and consumer loans, such as home equity loans, vehicle financing, loans secured by deposits, and secured and unsecured personal loans.