Invesco Ltd. Sells 3,074 Shares of 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. lessened its holdings in ServisFirst Bancshares, Inc. (NYSE:SFBS - Free Report) by 2.2% in the first quarter, according to the company in its most recent 13F filing 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 quarter. Invesco Ltd. owned approximately 0.25% of ServisFirst Bancshares worth $11,233,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. raised its holdings in ServisFirst Bancshares by 3.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 539,480 shares of the financial services provider's stock valued at $44,561,000 after buying an additional 18,415 shares during the last quarter. Vanguard Group Inc. raised its holdings in ServisFirst Bancshares by 3.3% during the 1st quarter. Vanguard Group Inc. now owns 5,902,237 shares of the financial services provider's stock worth $487,525,000 after purchasing an additional 187,715 shares during the last quarter. Natixis Advisors LLC raised its holdings in ServisFirst Bancshares by 32.4% during the 1st quarter. Natixis Advisors LLC now owns 21,772 shares of the financial services provider's stock worth $1,798,000 after purchasing an additional 5,328 shares during the last quarter. Federated Hermes Inc. raised its holdings in ServisFirst Bancshares by 7.2% during the 1st quarter. Federated Hermes Inc. now owns 74,088 shares of the financial services provider's stock worth $6,120,000 after purchasing an additional 4,951 shares during the last quarter. Finally, Inspire Advisors LLC bought a new position in ServisFirst Bancshares during the 1st quarter worth approximately $666,000. Institutional investors own 67.31% of the company's stock.

Insider Transactions at ServisFirst Bancshares

In related news, CEO Thomas A. Broughton sold 22,206 shares of the business's stock in a transaction dated 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 sale, the chief executive officer directly owned 592,588 shares in the company, valued at approximately $52,141,818.12. The trade was a 3.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 6.70% of the company's stock.

Analysts Set New Price Targets

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

ServisFirst Bancshares Stock Performance

Shares of NYSE:SFBS traded down $0.36 during midday trading on Wednesday, reaching $88.88. The company had a trading volume of 276,975 shares, compared to its average volume of 231,824. The company's 50 day moving average price is $80.62 and its 200 day moving average price is $79.04. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.04. The stock has a market cap of $4.85 billion, a P/E ratio of 19.45 and a beta of 0.85. ServisFirst Bancshares, Inc. has a 52-week low of $66.48 and a 52-week high of $101.37.

ServisFirst Bancshares (NYSE:SFBS - Get Free Report) last announced its quarterly earnings data on Monday, July 21st. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, beating 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 analysts' expectations of $140.26 million. During the same period in the previous year, the business posted $0.95 EPS. As a group, sell-side analysts anticipate that ServisFirst Bancshares, Inc. will post 5.17 EPS for the current fiscal year.

ServisFirst Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Tuesday, July 1st were paid a $0.335 dividend. This represents a $1.34 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Tuesday, July 1st. ServisFirst Bancshares's payout ratio is currently 29.32%.

ServisFirst Bancshares Company 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.