Kayne Anderson Rudnick Investment Management LLC Has $194.09 Million Stock Holdings in ServisFirst Bancshares, Inc. $SFBS

Key Points

• Kayne Anderson Rudnick Investment Management LLC reduced its stake in ServisFirst Bancshares by 5.2%, owning approximately 4.30% of the company, valued at $194.09 million.
• ServisFirst Bancshares reported earnings of $1.21 per share for the quarter, exceeding analysts' expectations by a narrow margin, although revenue fell short of estimates at $132.11 million.
• The company's stock has a current consensus rating of "Hold" with a target price of $90.50, following an update from Piper Sandler increasing its previous target price.

Kayne Anderson Rudnick Investment Management LLC trimmed its position in shares of ServisFirst Bancshares, Inc. (NYSE:SFBS - Free Report) by 5.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,349,747 shares of the financial services provider's stock after selling 128,057 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned 4.30% of ServisFirst Bancshares worth $194,089,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SFBS. Quarry LP bought a new position in shares of ServisFirst Bancshares during the fourth quarter worth $30,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of ServisFirst Bancshares during the first quarter worth $171,000. KBC Group NV boosted its position in shares of ServisFirst Bancshares by 6.0% during the first quarter. KBC Group NV now owns 2,466 shares of the financial services provider's stock worth $204,000 after purchasing an additional 140 shares in the last quarter. Occudo Quantitative Strategies LP bought a new position in shares of ServisFirst Bancshares during the fourth quarter worth $219,000. Finally, GTS Securities LLC bought a new position in shares of ServisFirst Bancshares during the fourth quarter worth $225,000. 67.31% of the stock is owned by institutional investors.

ServisFirst Bancshares Stock Down 0.4%

NYSE:SFBS traded down $0.36 on Wednesday, hitting $88.88. 276,975 shares of the company's stock were exchanged, compared to its average volume of 211,117. The firm has a 50-day moving average price of $80.95 and a 200-day moving average price of $79.11. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.96 and a quick 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 market cap of $4.85 billion, a P/E ratio of 19.45 and a beta of 0.85.

ServisFirst Bancshares (NYSE:SFBS - Get Free Report) last issued its quarterly earnings results on Monday, July 21st. The financial services provider reported $1.21 EPS for the quarter, topping 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 firm 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 firm posted $0.95 EPS. As a group, analysts expect that ServisFirst Bancshares, Inc. will post 5.17 EPS for the current fiscal year.

ServisFirst Bancshares Announces Dividend

The firm also recently declared 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 of this dividend was Tuesday, July 1st. This represents a $1.34 annualized dividend and a yield of 1.5%. ServisFirst Bancshares's payout ratio is 29.32%.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

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

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.