Dynamic Technology Lab Private Ltd Lowers Position 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 stake in shares of ServisFirst Bancshares, Inc. (NYSE:SFBS - Free Report) by 51.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quarry LP increased its position in ServisFirst Bancshares by 52.8% during the 1st quarter. Quarry LP now owns 544 shares of the financial services provider's stock valued at $45,000 after buying an additional 188 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in ServisFirst Bancshares during the 1st quarter valued at approximately $171,000. KBC Group NV increased its position 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 buying an additional 140 shares in the last quarter. Occudo Quantitative Strategies LP bought a new position in ServisFirst Bancshares during the 4th quarter valued at approximately $219,000. Finally, GTS Securities LLC bought a new stake in shares of ServisFirst Bancshares in the 4th quarter worth $225,000. Institutional investors own 67.31% of the company's stock.

Insider Buying and Selling at ServisFirst Bancshares

In other news, CEO Thomas A. Broughton sold 22,206 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $87.99, for a total value of $1,953,905.94. Following the transaction, the chief executive officer owned 592,588 shares in the company, valued at $52,141,818.12. This represents a 3.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 6.70% of the stock is owned by company insiders.

ServisFirst Bancshares Stock Down 0.8%

Shares of SFBS stock traded down $0.63 during mid-day trading on Tuesday, hitting $83.23. The company's stock had a trading volume of 245,665 shares, compared to its average volume of 204,365. ServisFirst Bancshares, Inc. has a 52-week low of $66.48 and a 52-week high of $101.37. The business has a 50-day moving average price of $83.03 and a 200 day moving average price of $78.72. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market cap of $4.55 billion, a price-to-earnings ratio of 18.21 and a beta of 0.89.

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

ServisFirst Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Wednesday, October 1st will be paid a $0.335 dividend. This represents a $1.34 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Wednesday, October 1st. ServisFirst Bancshares's dividend payout ratio is 29.32%.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler boosted their price target on ServisFirst Bancshares from $84.00 to $90.00 and gave the stock 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, the company has an average 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.