Dynamic Technology Lab Private Ltd Lowers Holdings in ServisFirst Bancshares, Inc. $SFBS

Key Points

• Dynamic Technology Lab Private Ltd reduced its stake in ServisFirst Bancshares, Inc. by 51.1%, selling 6,404 shares, leaving the fund with 6,126 shares valued at approximately $506,000.
• CEO Thomas A. Broughton sold 22,206 shares at an average price of $87.99, which decreased his ownership by 3.61%, while remaining with 592,588 shares worth about $52 million.
• ServisFirst Bancshares reported a quarterly EPS of $1.21, slightly exceeding analyst expectations, and declared a quarterly dividend of $0.335, translating to an annual yield of 1.6%.

Dynamic Technology Lab Private Ltd lessened its holdings in shares of ServisFirst Bancshares, Inc. (NYSE:SFBS - Free Report) by 51.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,126 shares of the financial services provider's stock after selling 6,404 shares during the period. Dynamic Technology Lab Private Ltd's holdings in ServisFirst Bancshares were worth $506,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SFBS. Envestnet Asset Management Inc. raised its position in shares of ServisFirst Bancshares by 7.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 164,414 shares of the financial services provider's stock worth $13,581,000 after acquiring an additional 11,194 shares in the last quarter. KBC Group NV boosted its holdings 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 worth $204,000 after acquiring an additional 140 shares in the last quarter. SG Americas Securities LLC acquired a new stake in ServisFirst Bancshares in the first quarter valued at approximately $991,000. Bessemer Group Inc. increased its holdings in shares of ServisFirst Bancshares by 6.4% during the first quarter. Bessemer Group Inc. now owns 21,961 shares of the financial services provider's stock valued at $1,814,000 after acquiring an additional 1,321 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of ServisFirst Bancshares by 0.3% during the first quarter. Principal Financial Group Inc. now owns 1,056,878 shares of the financial services provider's stock worth $87,298,000 after purchasing an additional 3,405 shares during the period. Institutional investors and hedge funds own 67.31% of the company's stock.

Insider Activity

In other news, CEO Thomas A. Broughton sold 22,206 shares of the firm's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $87.99, for a total value of $1,953,905.94. Following the completion of the transaction, the chief executive officer directly owned 592,588 shares of the company's stock, valued at $52,141,818.12. This trade represents a 3.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 6.70% of the stock is currently owned by corporate insiders.

ServisFirst Bancshares Stock Performance

NYSE:SFBS traded down $1.26 during trading hours on Friday, reaching $83.55. The stock had a trading volume of 155,867 shares, compared to its average volume of 201,847. The stock has a 50 day simple moving average of $82.96 and a 200 day simple moving average of $78.82. ServisFirst Bancshares, Inc. has a 12-month low of $66.48 and a 12-month high of $101.37. The stock has a market cap of $4.56 billion, a P/E ratio of 18.28 and a beta of 0.89. 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 (NYSE:SFBS - Get Free Report) last released its quarterly earnings data on Monday, July 21st. The financial services provider reported $1.21 EPS 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 business had revenue of $132.11 million for the quarter, compared to the consensus estimate of $140.26 million. During the same period in the prior year, the firm earned $0.95 earnings per share. On average, research analysts forecast that ServisFirst Bancshares, Inc. will post 5.17 EPS for the current fiscal 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 given a dividend of $0.335 per share. The ex-dividend date was Tuesday, July 1st. This represents a $1.34 annualized dividend and a dividend yield of 1.6%. ServisFirst Bancshares's dividend payout ratio is currently 29.32%.

Analyst Ratings Changes

Separately, Piper Sandler lifted their price target 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 investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, ServisFirst Bancshares currently has an average rating of "Hold" and an average price target 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.