Public Sector Pension Investment Board Increases Stock Position in ServisFirst Bancshares, Inc. (NYSE:SFBS)

Key Points

• The Public Sector Pension Investment Board increased its stake in ServisFirst Bancshares by 27.4%, now owning 159,253 shares valued at approximately $13.15 million.
• Several hedge funds, including Raymond James Financial and Victory Capital Management, have also modified their holdings, with institutional investors owning 67.31% of the stock.
• Piper Sandler raised its price target for ServisFirst Bancshares from $84.00 to $90.00 while maintaining a "neutral" rating on the stock.

Public Sector Pension Investment Board grew its stake in shares of ServisFirst Bancshares, Inc. (NYSE:SFBS - Free Report) by 27.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 159,253 shares of the financial services provider's stock after purchasing an additional 34,210 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.29% of ServisFirst Bancshares worth $13,154,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new position in shares of ServisFirst Bancshares in the fourth quarter worth $19,639,000. Victory Capital Management Inc. raised its position in ServisFirst Bancshares by 25.1% in the first quarter. Victory Capital Management Inc. now owns 1,072,614 shares of the financial services provider's stock worth $88,598,000 after purchasing an additional 214,879 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of 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 worth $487,525,000 after buying an additional 187,715 shares in the last quarter. Nuveen LLC bought a new stake in shares of ServisFirst Bancshares during the first quarter valued at approximately $12,726,000. Finally, GAMMA Investing LLC boosted its stake in ServisFirst Bancshares by 2,878.9% in the first quarter. GAMMA Investing LLC now owns 140,337 shares of the financial services provider's stock valued at $11,592,000 after acquiring an additional 135,626 shares during the last quarter. 67.31% of the stock is owned by institutional investors.

ServisFirst Bancshares Stock Performance

NYSE SFBS traded down $1.54 during trading on Friday, reaching $81.27. The company's stock had a trading volume of 175,824 shares, compared to its average volume of 224,098. 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 firm has a market capitalization of $4.44 billion, a price-to-earnings ratio of 17.78 and a beta of 0.85. ServisFirst Bancshares, Inc. has a 12 month low of $66.48 and a 12 month high of $101.37. The firm has a 50 day moving average price of $79.03 and a 200 day moving average price of $79.33.

ServisFirst Bancshares (NYSE:SFBS - Get Free Report) last issued its quarterly earnings data on Monday, July 21st. The financial services provider reported $1.21 EPS for the quarter, beating the consensus estimate of $1.20 by $0.01. The business had revenue of $132.11 million during the quarter, compared to the consensus estimate of $140.26 million. ServisFirst Bancshares had a net margin of 24.62% and a return on equity of 15.47%. During the same quarter in the prior year, the firm earned $0.95 EPS. As a group, equities analysts anticipate that ServisFirst Bancshares, Inc. will post 5.17 EPS for the current fiscal year.

ServisFirst Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders 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 dividend yield of 1.6%. ServisFirst Bancshares's payout ratio is presently 29.32%.

Wall Street Analyst Weigh In

Separately, Piper Sandler lifted their price target on shares of ServisFirst Bancshares from $84.00 to $90.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd.

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.