Citigroup Inc. Has $7.48 Million Stock Holdings in ServisFirst Bancshares, Inc. $SFBS

Key Points

• Citigroup Inc. reduced its stake in ServisFirst Bancshares by 3.4%, selling 3,217 shares and now holding approximately 90,551 shares worth $7.48 million.
• ServisFirst Bancshares recently reported quarterly earnings of $1.21 per share, surpassing expectations, despite revenues falling short of analyst estimates at $132.11 million.
• An annual dividend of $1.34 was declared, yielding 1.6%, with a payout ratio of 29.32%, emphasizing the company's commitment to returning value to shareholders.

Citigroup Inc. trimmed its position in ServisFirst Bancshares, Inc. (NYSE:SFBS - Free Report) by 3.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 90,551 shares of the financial services provider's stock after selling 3,217 shares during the quarter. Citigroup Inc. owned approximately 0.17% of ServisFirst Bancshares worth $7,480,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Quarry LP bought a new stake in shares of ServisFirst Bancshares in the 4th quarter valued at about $30,000. Sterling Capital Management LLC raised its holdings in shares of ServisFirst Bancshares by 761.6% in the 4th quarter. Sterling Capital Management LLC now owns 1,189 shares of the financial services provider's stock valued at $101,000 after purchasing an additional 1,051 shares during the period. KBC Group NV raised its holdings in shares of ServisFirst Bancshares by 6.0% in the 1st quarter. KBC Group NV now owns 2,466 shares of the financial services provider's stock valued at $204,000 after purchasing an additional 140 shares during the period. Occudo Quantitative Strategies LP bought a new stake in shares of ServisFirst Bancshares in the 4th quarter valued at about $219,000. Finally, GTS Securities LLC bought a new stake in shares of ServisFirst Bancshares in the 4th quarter valued at about $225,000. 67.31% of the stock is owned by institutional investors.

ServisFirst Bancshares Stock Performance

ServisFirst Bancshares stock traded down $0.25 during trading hours on Thursday, hitting $82.78. The company had a trading volume of 156,842 shares, compared to its average volume of 199,784. The firm has a market cap of $4.52 billion, a PE ratio of 18.11 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, Inc. has a one year low of $66.48 and a one year high of $101.37. The firm has a 50-day moving average of $79.63 and a 200 day moving average of $79.20.

ServisFirst Bancshares (NYSE:SFBS - Get Free Report) last released its quarterly earnings results on Monday, July 21st. The financial services provider reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.01. ServisFirst Bancshares had a net margin of 24.62% and a return on equity of 15.47%. The firm had revenue of $132.11 million for the quarter, compared to analysts' expectations of $140.26 million. During the same period in the prior year, the firm earned $0.95 EPS. On average, sell-side analysts expect that ServisFirst Bancshares, Inc. will post 5.17 earnings per share for the current year.

ServisFirst Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Tuesday, July 1st were issued a dividend of $0.335 per share. The ex-dividend date of this dividend was Tuesday, July 1st. This represents a $1.34 annualized dividend and a dividend yield of 1.6%. ServisFirst Bancshares's dividend payout ratio (DPR) is currently 29.32%.

Analyst Upgrades and Downgrades

Separately, Piper Sandler upped their target price on shares of ServisFirst Bancshares from $84.00 to $90.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Two research analysts have rated the stock with a Hold rating, According to MarketBeat, ServisFirst Bancshares currently has a consensus rating of "Hold" and a consensus target price of $90.50.

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.