Citigroup Inc. Sells 3,217 Shares of 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. lowered its stake in ServisFirst Bancshares, Inc. (NYSE:SFBS - Free Report) by 3.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 90,551 shares of the financial services provider's stock after selling 3,217 shares during the quarter. Citigroup Inc. owned about 0.17% of ServisFirst Bancshares worth $7,480,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Quarry LP bought a new position in shares of ServisFirst Bancshares in the fourth quarter worth about $30,000. Sterling Capital Management LLC raised its stake in ServisFirst Bancshares by 761.6% during 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 stake in ServisFirst Bancshares by 6.0% during 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 ServisFirst Bancshares during the 4th quarter valued at approximately $219,000. Finally, GTS Securities LLC bought a new stake in ServisFirst Bancshares during the 4th quarter valued at approximately $225,000. Institutional investors own 67.31% of the company's stock.

ServisFirst Bancshares Price Performance

NYSE:SFBS traded down $0.04 during trading hours on Thursday, reaching $82.99. The stock had a trading volume of 19,363 shares, compared to its average volume of 230,004. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.96 and a current ratio of 0.96. ServisFirst Bancshares, Inc. has a 52 week low of $66.48 and a 52 week high of $101.37. The company has a 50 day moving average price of $79.45 and a two-hundred day moving average price of $79.24. The stock has a market capitalization of $4.53 billion, a PE ratio of 18.18 and a beta of 0.85.

ServisFirst Bancshares (NYSE:SFBS - Get Free Report) last released its quarterly earnings data on Monday, July 21st. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.20 by $0.01. ServisFirst Bancshares had a return on equity of 15.47% and a net margin of 24.62%.The business had revenue of $132.11 million for the quarter, compared to the consensus estimate of $140.26 million. During the same quarter in the previous year, the company posted $0.95 EPS. As a group, sell-side analysts anticipate that ServisFirst Bancshares, Inc. will post 5.17 earnings per share for the current fiscal year.

ServisFirst Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Tuesday, July 1st were paid a $0.335 dividend. The ex-dividend date of this dividend was Tuesday, July 1st. This represents a $1.34 dividend on an annualized basis and a yield of 1.6%. ServisFirst Bancshares's payout ratio is presently 29.32%.

Analyst Ratings Changes

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

About ServisFirst Bancshares

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.