ServisFirst Bancshares, Inc. $SFBS Shares Purchased by Intech Investment Management LLC

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 grew its position in ServisFirst Bancshares, Inc. (NYSE:SFBS - Free Report) by 45.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 40,480 shares of the financial services provider's stock after purchasing an additional 12,683 shares during the period. Intech Investment Management LLC owned approximately 0.07% of ServisFirst Bancshares worth $3,344,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Quarry LP lifted its position in shares of ServisFirst Bancshares by 52.8% in the first quarter. Quarry LP now owns 544 shares of the financial services provider's stock valued at $45,000 after acquiring an additional 188 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in ServisFirst Bancshares during the first quarter worth $171,000. KBC Group NV increased its stake in ServisFirst Bancshares by 6.0% during the first quarter. KBC Group NV now owns 2,466 shares of the financial services provider's stock worth $204,000 after acquiring an additional 140 shares during the last quarter. Caxton Associates LLP acquired a new stake in shares of ServisFirst Bancshares in the first quarter valued at $204,000. Finally, Occudo Quantitative Strategies LP acquired a new stake in shares of ServisFirst Bancshares in the fourth quarter valued at $219,000. Hedge funds and other institutional investors own 67.31% of the company's stock.

Insider Transactions at ServisFirst Bancshares

In related news, CEO Thomas A. Broughton sold 22,206 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $87.99, for a total value of $1,953,905.94. Following the completion of the sale, the chief executive officer directly owned 592,588 shares in the company, valued at approximately $52,141,818.12. This represents a 3.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 6.70% of the company's stock.

Wall Street Analysts Forecast Growth

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

ServisFirst Bancshares Trading Up 1.1%

Shares of ServisFirst Bancshares stock traded up $0.90 during trading hours on Wednesday, reaching $84.26. 91,457 shares of the company's stock were exchanged, compared to its average volume of 229,493. 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 $4.60 billion, a price-to-earnings ratio of 18.45 and a beta of 0.89. The company has a fifty day moving average of $83.03 and a 200-day moving average of $78.72. ServisFirst Bancshares, Inc. has a 52-week low of $66.48 and a 52-week high of $101.37.

ServisFirst Bancshares (NYSE:SFBS - Get Free Report) last issued its earnings results on Monday, July 21st. The financial services provider reported $1.21 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 15.47% and a net margin of 24.62%.During the same period last year, the company posted $0.95 EPS. Sell-side analysts forecast that ServisFirst Bancshares, Inc. will post 5.17 EPS for the current fiscal year.

ServisFirst Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Wednesday, October 1st will be issued a $0.335 dividend. This represents a $1.34 annualized dividend and a yield of 1.6%. The ex-dividend date is Wednesday, October 1st. ServisFirst Bancshares's dividend payout ratio is currently 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.