Invesco Ltd. Lowers Holdings in ServisFirst Bancshares, Inc. $SFBS

Key Points

• Invesco Ltd. reduced its holdings in ServisFirst Bancshares by 2.2%, now owning 135,993 shares valued at approximately $11.23 million.
• The company recently reported earnings of $1.21 per share, exceeding expectations, although revenue of $132.11 million fell short of estimates.
• ServisFirst Bancshares announced a quarterly dividend of $0.335 per share, representing an annual yield of 1.5% and a payout ratio of 29.32%.

Invesco Ltd. lowered its stake in ServisFirst Bancshares, Inc. (NYSE:SFBS - Free Report) by 2.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 135,993 shares of the financial services provider's stock after selling 3,074 shares during the period. Invesco Ltd. owned approximately 0.25% of ServisFirst Bancshares worth $11,233,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its stake in shares of ServisFirst Bancshares by 3.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 539,480 shares of the financial services provider's stock worth $44,561,000 after purchasing an additional 18,415 shares during the period. Vanguard Group Inc. boosted its holdings in ServisFirst Bancshares by 3.3% during the first quarter. Vanguard Group Inc. now owns 5,902,237 shares of the financial services provider's stock valued at $487,525,000 after purchasing an additional 187,715 shares in the last quarter. Natixis Advisors LLC boosted its holdings in ServisFirst Bancshares by 32.4% during the first quarter. Natixis Advisors LLC now owns 21,772 shares of the financial services provider's stock valued at $1,798,000 after purchasing an additional 5,328 shares in the last quarter. Federated Hermes Inc. boosted its holdings in shares of ServisFirst Bancshares by 7.2% in the 1st quarter. Federated Hermes Inc. now owns 74,088 shares of the financial services provider's stock worth $6,120,000 after acquiring an additional 4,951 shares in the last quarter. Finally, Inspire Advisors LLC acquired a new position in shares of ServisFirst Bancshares in the 1st quarter worth approximately $666,000. Institutional investors and hedge funds 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 ServisFirst Bancshares stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $87.99, for a total transaction of $1,953,905.94. Following the transaction, the chief executive officer owned 592,588 shares in the company, valued at approximately $52,141,818.12. The trade was a 3.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 6.70% of the company's stock.

ServisFirst Bancshares Trading Down 0.1%

Shares of SFBS traded down $0.05 during trading hours on Friday, reaching $88.30. The stock had a trading volume of 174,436 shares, compared to its average volume of 211,863. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.04. ServisFirst Bancshares, Inc. has a 52 week low of $66.48 and a 52 week high of $101.37. The firm has a 50-day moving average of $81.58 and a 200 day moving average of $79.06. The company has a market cap of $4.82 billion, a P/E ratio of 19.32 and a beta of 0.85.

ServisFirst Bancshares (NYSE:SFBS - Get Free Report) last posted its quarterly earnings data on Monday, July 21st. The financial services provider reported $1.21 EPS for the quarter, topping analysts' consensus estimates of $1.20 by $0.01. ServisFirst Bancshares had a net margin of 24.62% and a return on equity of 15.47%. The company had revenue of $132.11 million during the quarter, compared to the consensus estimate of $140.26 million. During the same period in the prior year, the business posted $0.95 EPS. On average, sell-side analysts expect that ServisFirst Bancshares, Inc. will post 5.17 earnings per share 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 paid a dividend of $0.335 per share. This represents a $1.34 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Tuesday, July 1st. ServisFirst Bancshares's payout ratio is presently 29.32%.

Wall Street Analyst Weigh In

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