Public Sector Pension Investment Board Has $13.15 Million 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% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 159,253 shares of the financial services provider's stock after acquiring an additional 34,210 shares during the period. Public Sector Pension Investment Board owned 0.29% of ServisFirst Bancshares worth $13,154,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Raymond James Financial Inc. purchased a new position in ServisFirst Bancshares in the fourth quarter valued at about $19,639,000. Victory Capital Management Inc. lifted its stake in shares of ServisFirst Bancshares by 25.1% in the 1st quarter. Victory Capital Management Inc. now owns 1,072,614 shares of the financial services provider's stock valued at $88,598,000 after purchasing an additional 214,879 shares during the last quarter. Vanguard Group Inc. boosted its holdings in ServisFirst Bancshares by 3.3% in the first 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 in the last quarter. Nuveen LLC acquired a new position in ServisFirst Bancshares during the first quarter worth $12,726,000. Finally, GAMMA Investing LLC raised its holdings in ServisFirst Bancshares by 2,878.9% during the first quarter. GAMMA Investing LLC now owns 140,337 shares of the financial services provider's stock valued at $11,592,000 after buying an additional 135,626 shares in the last quarter. 67.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Piper Sandler boosted their price target on 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 Trading Up 4.9%

Shares of SFBS stock opened at $81.67 on Wednesday. ServisFirst Bancshares, Inc. has a 12 month low of $66.48 and a 12 month high of $101.37. The company has a market cap of $4.46 billion, a PE ratio of 17.87 and a beta of 0.85. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.04. The business's 50 day moving average is $78.52 and its two-hundred day moving average is $79.51.

ServisFirst Bancshares (NYSE:SFBS - Get Free Report) last posted its earnings results 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. The business had revenue of $132.11 million for the quarter, compared to analyst estimates of $140.26 million. ServisFirst Bancshares had a net margin of 24.62% and a return on equity of 15.47%. During the same period last year, the business posted $0.95 EPS. Equities analysts predict that ServisFirst Bancshares, Inc. will post 5.17 EPS for the current year.

ServisFirst Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Tuesday, July 1st were issued a dividend of $0.335 per share. The ex-dividend date was Tuesday, July 1st. This represents a $1.34 dividend on an annualized basis and a dividend yield of 1.6%. ServisFirst Bancshares's payout ratio is 29.32%.

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.

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