ProShare Advisors LLC Buys 234,104 Shares of ServisFirst Bancshares, Inc. $SFBS

Key Points

• ProShare Advisors increased its ServisFirst Bancshares stake by 3,136.9%, buying 234,104 shares in the third quarter to hold 241,567 shares worth about $9.7 million.
• ServisFirst reported quarterly EPS of $0.80, below the $0.83 consensus estimate; revenue of $172.93 million also narrowly missed expectations.
• Analyst views were mixed, but the stock carried a “Moderate Buy” consensus and an average price target of $46.50. The company’s quarterly dividend equates to $0.76 annually, or a 1.9% yield.

ProShare Advisors LLC lifted its position in shares of ServisFirst Bancshares, Inc. (NYSE:SFBS - Free Report) by 3,136.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 241,567 shares of the financial services provider's stock after acquiring an additional 234,104 shares during the quarter. ProShare Advisors LLC owned 0.22% of ServisFirst Bancshares worth $9,658,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Copeland Capital Management LLC acquired a new position in shares of ServisFirst Bancshares in the first quarter valued at approximately $54,879,000. Navigate Wealth Management LLC purchased a new position in shares of ServisFirst Bancshares in the 1st quarter worth about $932,000. Smith Thornton Advisors LLC lifted its position in ServisFirst Bancshares by 100.0% during the third quarter. Smith Thornton Advisors LLC now owns 30,310 shares of the financial services provider's stock valued at $1,212,000 after buying an additional 15,155 shares in the last quarter. Hsbc Holdings PLC acquired a new stake in ServisFirst Bancshares in the 4th quarter valued at $718,000. Finally, Yousif Capital Management LLC raised its holdings in shares of ServisFirst Bancshares by 93.6% during the 3rd quarter. Yousif Capital Management LLC now owns 26,013 shares of the financial services provider's stock valued at $1,040,000 after buying an additional 12,574 shares during the period. 67.31% of the stock is owned by institutional investors and hedge funds.

ServisFirst Bancshares Stock Down 1.0%

Shares of SFBS stock opened at $40.99 on Wednesday. ServisFirst Bancshares, Inc. has a 1 year low of $33.60 and a 1 year high of $46.04. The stock has a market cap of $4.48 billion, a PE ratio of 13.17 and a beta of 0.92. The business's fifty day moving average is $40.90 and its 200-day moving average is $40.82. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.98 and a current ratio of 0.98.

ServisFirst Bancshares (NYSE:SFBS - Get Free Report) last posted its quarterly earnings data on Monday, October 19th. The financial services provider reported $0.80 EPS for the quarter, missing analysts' consensus estimates of $0.83 by ($0.03). ServisFirst Bancshares had a return on equity of 17.66% and a net margin of 32.53%. The firm had revenue of $172.93 million during the quarter, compared to the consensus estimate of $173.13 million. Equities analysts expect that ServisFirst Bancshares, Inc. will post 3.18 earnings per share for the current fiscal year.

ServisFirst Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 9th. Shareholders of record on Thursday, October 1st were issued a $0.19 dividend. The ex-dividend date of this dividend was Thursday, October 1st. This represents a $0.76 annualized dividend and a dividend yield of 1.9%. ServisFirst Bancshares's dividend payout ratio is currently 24.28%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on SFBS shares. Zacks Research cut ServisFirst Bancshares from a "hold" rating to a "strong sell" rating in a research note on Tuesday, October 20th. Weiss Ratings raised shares of ServisFirst Bancshares from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, October 9th. Raymond James Financial downgraded shares of ServisFirst Bancshares from a "strong-buy" rating to an "outperform" rating and decreased their price objective for the stock from $50.00 to $45.00 in a report on Tuesday, October 6th. Wall Street Zen downgraded ServisFirst Bancshares from a "buy" rating to a "hold" rating in a research note on Sunday, August 30th. Finally, Piper Sandler lowered their price target on shares of ServisFirst Bancshares from $47.00 to $46.00 and set an "overweight" rating for the company in a research report on Friday, October 2nd. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, ServisFirst Bancshares presently has an average rating of "Moderate Buy" and an average price target of $46.50.

About ServisFirst Bancshares

ServisFirst Bancshares, Inc is a bank holding company headquartered in Birmingham, Alabama. Its principal subsidiary, ServisFirst Bank, provides commercial and consumer banking services to businesses, professionals and individuals.

The bank offers deposit accounts, commercial and residential real estate lending, business loans, treasury management, private banking, mortgage services and wealth management. It emphasizes relationship-based banking and serves clients through banking offices and digital channels.

Founded in 2005, ServisFirst Bank has expanded beyond Alabama into markets including Florida, Georgia, Tennessee, South Carolina, North Carolina and Virginia.

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