Callan Family Office LLC Acquires New Stake in ServisFirst Bancshares, Inc. $SFBS

Key Points

• Callan Family Office LLC acquired 8,015 shares of ServisFirst Bancshares, Inc., valued at approximately $621,000, in the second quarter of 2023.
• CEO Thomas A. Broughton sold 22,206 shares worth about $1.95 million, reducing his ownership in the company by 3.61%.
• Analysts have mixed ratings on ServisFirst Bancshares, with a recent upgrade by Raymond James to "outperform" and a consensus price target of $92.00.

Callan Family Office LLC bought a new stake in ServisFirst Bancshares, Inc. (NYSE:SFBS - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 8,015 shares of the financial services provider's stock, valued at approximately $621,000.

Several other large investors also recently added to or reduced their stakes in SFBS. SG Americas Securities LLC purchased a new stake in ServisFirst Bancshares in the 1st quarter valued at $991,000. Precision Wealth Strategies LLC grew its holdings in ServisFirst Bancshares by 5.0% in the 1st quarter. Precision Wealth Strategies LLC now owns 7,709 shares of the financial services provider's stock valued at $637,000 after buying an additional 364 shares in the last quarter. Bessemer Group Inc. grew its holdings in ServisFirst Bancshares by 6.4% in the 1st quarter. Bessemer Group Inc. now owns 21,961 shares of the financial services provider's stock valued at $1,814,000 after buying an additional 1,321 shares in the last quarter. Diversified Trust Co grew its holdings in ServisFirst Bancshares by 41.6% in the 1st quarter. Diversified Trust Co now owns 18,989 shares of the financial services provider's stock valued at $1,568,000 after buying an additional 5,574 shares in the last quarter. Finally, Illinois Municipal Retirement Fund grew its holdings in ServisFirst Bancshares by 5.0% in the 1st quarter. Illinois Municipal Retirement Fund now owns 28,268 shares of the financial services provider's stock valued at $2,335,000 after buying an additional 1,338 shares in the last quarter. 67.31% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Thomas A. Broughton sold 22,206 shares of the firm's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $87.99, for a total transaction of $1,953,905.94. Following the completion of the transaction, the chief executive officer directly owned 592,588 shares in the company, valued at $52,141,818.12. This trade represents a 3.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 6.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SFBS. Raymond James Financial upgraded ServisFirst Bancshares from a "market perform" rating to an "outperform" rating and set a $95.00 target price for the company in a report on Tuesday, October 7th. Weiss Ratings reiterated a "hold (c+)" rating on shares of ServisFirst Bancshares in a report on Wednesday, October 8th. Zacks Research cut ServisFirst Bancshares from a "strong-buy" rating to a "hold" rating in a report on Monday, September 22nd. Finally, Piper Sandler increased their price target on ServisFirst Bancshares from $84.00 to $90.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, ServisFirst Bancshares currently has an average rating of "Hold" and a consensus price target of $92.00.

ServisFirst Bancshares Stock Performance

Shares of ServisFirst Bancshares stock opened at $78.14 on Tuesday. The business has a 50-day moving average of $83.20 and a 200 day moving average of $78.40. ServisFirst Bancshares, Inc. has a 12 month low of $66.48 and a 12 month high of $101.37. The stock has a market capitalization of $4.27 billion, a price-to-earnings ratio of 17.10 and a beta of 0.85. 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 (NYSE:SFBS - Get Free Report) last announced its earnings results on Tuesday, August 10th. The financial services provider reported $1.07 EPS for the quarter. ServisFirst Bancshares had a return on equity of 15.47% and a net margin of 24.62%.The company had revenue of $104.27 million during the quarter. As a group, sell-side analysts forecast that ServisFirst Bancshares, Inc. will post 5.17 earnings per share for the current year.

ServisFirst Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Wednesday, October 1st were issued a dividend of $0.335 per share. This represents a $1.34 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Wednesday, October 1st. ServisFirst Bancshares's dividend payout ratio (DPR) is 29.32%.

ServisFirst Bancshares 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.

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