ServisFirst Bancshares, Inc. $SFBS Shares Sold by Kayne Anderson Rudnick Investment Management LLC

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 lowered its stake 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 and Exchange Commission (SEC). 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 about 4.30% of ServisFirst Bancshares worth $194,089,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. Kestra Advisory Services LLC boosted its position in ServisFirst Bancshares by 13.1% during the first quarter. Kestra Advisory Services LLC now owns 12,891 shares of the financial services provider's stock valued at $1,065,000 after purchasing an additional 1,492 shares in the last quarter. Bragg Financial Advisors Inc boosted its position in ServisFirst Bancshares by 1.4% during the first quarter. Bragg Financial Advisors Inc now owns 417,722 shares of the financial services provider's stock valued at $34,504,000 after purchasing an additional 5,753 shares in the last quarter. Summit Financial LLC acquired a new stake in ServisFirst Bancshares in the first quarter worth about $473,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in ServisFirst Bancshares in the first quarter worth about $171,000. Finally, Hsbc Holdings PLC boosted its holdings in ServisFirst Bancshares by 34.1% in the first quarter. Hsbc Holdings PLC now owns 7,916 shares of the financial services provider's stock worth $650,000 after acquiring an additional 2,014 shares in the last quarter. Institutional investors own 67.31% of the company's stock.

ServisFirst Bancshares Stock Performance

Shares of ServisFirst Bancshares stock traded up $0.58 on Friday, reaching $88.93. 44,694 shares of the stock were exchanged, compared to its average volume of 230,586. 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 twelve month low of $66.48 and a twelve month high of $101.37. The firm has a market capitalization of $4.86 billion, a price-to-earnings ratio of 19.46 and a beta of 0.85. The business has a 50 day moving average price of $81.27 and a two-hundred day moving average price of $79.09.

ServisFirst Bancshares (NYSE:SFBS - Get Free Report) last released its earnings results 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 return on equity of 15.47% and a net margin of 24.62%.The firm had revenue of $132.11 million during the quarter, compared to the consensus estimate of $140.26 million. During the same quarter in the previous year, the company posted $0.95 earnings per share. Analysts anticipate that ServisFirst Bancshares, Inc. will post 5.17 earnings per share for the current fiscal year.

ServisFirst Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Tuesday, July 1st were given a dividend of $0.335 per share. This represents a $1.34 annualized dividend and a yield of 1.5%. The ex-dividend date was Tuesday, July 1st. ServisFirst Bancshares's dividend payout ratio (DPR) is currently 29.32%.

Analyst Ratings Changes

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

Insiders Place Their Bets

In related news, CEO Thomas A. Broughton sold 22,206 shares of ServisFirst Bancshares stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $87.99, for a total transaction of $1,953,905.94. Following the completion of the transaction, the chief executive officer directly owned 592,588 shares in the company, valued at approximately $52,141,818.12. This trade represents a 3.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 6.70% of the company's stock.

About ServisFirst Bancshares

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.