Intech Investment Management LLC Has $3.34 Million Stake in ServisFirst Bancshares, Inc. $SFBS

Key Points

• Intech Investment Management LLC increased its stake in ServisFirst Bancshares by 45.6%, acquiring over 12,000 additional shares, bringing their total ownership to 40,480 shares valued at $3.34 million.
• Analysts have set a new target price of $90.00 for ServisFirst Bancshares, reflecting a consensus rating of "Hold" as of the latest updates.
• ServisFirst Bancshares recently announced a quarterly dividend of $0.335, yielding approximately 1.6%, with a payout ratio of 29.32%.

Intech Investment Management LLC boosted its holdings in ServisFirst Bancshares, Inc. (NYSE:SFBS - Free Report) by 45.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 40,480 shares of the financial services provider's stock after acquiring an additional 12,683 shares during the quarter. Intech Investment Management LLC owned about 0.07% of ServisFirst Bancshares worth $3,344,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the business. Jane Street Group LLC purchased a new position in ServisFirst Bancshares in the first quarter worth $7,936,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of ServisFirst Bancshares by 7.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 102,921 shares of the financial services provider's stock valued at $8,501,000 after buying an additional 6,768 shares in the last quarter. United Services Automobile Association purchased a new position in shares of ServisFirst Bancshares in the first quarter valued at $260,000. Caxton Associates LLP purchased a new stake in ServisFirst Bancshares during the 1st quarter worth about $204,000. Finally, Millennium Management LLC increased its position in ServisFirst Bancshares by 107.3% during the 1st quarter. Millennium Management LLC now owns 146,442 shares of the financial services provider's stock worth $12,096,000 after purchasing an additional 75,799 shares in the last quarter. Hedge funds and other institutional investors own 67.31% of the company's stock.

ServisFirst Bancshares Stock Performance

NYSE:SFBS traded up $2.46 during midday trading on Thursday, reaching $85.91. 352,832 shares of the company traded hands, compared to its average volume of 209,789. 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 $4.69 billion, a price-to-earnings ratio of 18.80 and a beta of 0.89. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.96 and a quick ratio of 0.96. The company has a fifty day moving average price of $83.13 and a 200 day moving average price of $78.71.

ServisFirst Bancshares (NYSE:SFBS - Get Free Report) last announced its quarterly earnings results on Monday, July 21st. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.20 by $0.01. The company had revenue of $132.11 million during the quarter, compared to analyst estimates of $140.26 million. ServisFirst Bancshares had a return on equity of 15.47% and a net margin of 24.62%.During the same quarter in the previous year, the firm posted $0.95 EPS. On average, analysts expect that ServisFirst Bancshares, Inc. will post 5.17 EPS for the current fiscal year.

ServisFirst Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Wednesday, October 1st will be paid a $0.335 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $1.34 dividend on an annualized basis and a yield of 1.6%. ServisFirst Bancshares's payout ratio is 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 research note on Tuesday, July 22nd. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $90.50.

Insider Activity

In other news, CEO Thomas A. Broughton sold 22,206 shares of the company's stock in a transaction dated 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 sale, the chief executive officer owned 592,588 shares in the company, valued at approximately $52,141,818.12. This represents a 3.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company 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.