ServisFirst Bancshares, Inc. $SFBS Stock: Welch Group LLC Grows Holdings

Key Points

• Welch Group LLC nearly doubled its ServisFirst Bancshares position in the third quarter, adding 925,380 shares to reach 1.89 million shares valued at approximately $75.4 million. Institutional investors and hedge funds collectively own 67.31% of SFBS.
• ServisFirst reported quarterly EPS of $0.80, below the $0.83 analyst consensus, while revenue of $172.93 million was also slightly below expectations. Analysts project full-year EPS of $3.18.
• The company pays a quarterly dividend of $0.19, equivalent to $0.76 annually and a 1.9% yield. Analyst views are mixed, but SFBS carries a “Moderate Buy” consensus rating with an average price target of $46.50.

Welch Group LLC grew its position in ServisFirst Bancshares, Inc. (NYSE:SFBS - Free Report) by 96.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,885,113 shares of the financial services provider's stock after purchasing an additional 925,380 shares during the quarter. ServisFirst Bancshares makes up approximately 2.6% of Welch Group LLC's portfolio, making the stock its 11th largest holding. Welch Group LLC owned 1.72% of ServisFirst Bancshares worth $75,367,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of SFBS. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in ServisFirst Bancshares in the second quarter worth about $31,000. Ameritas Advisory Services LLC bought a new position in ServisFirst Bancshares during the second quarter worth about $32,000. Public Employees Retirement System of Ohio acquired a new position in ServisFirst Bancshares during the second quarter worth $34,000. Root Financial Partners LLC acquired a new position in ServisFirst Bancshares during the third quarter worth $35,000. Finally, Farther Finance Advisors LLC grew its holdings in ServisFirst Bancshares by 91.6% during the third quarter. Farther Finance Advisors LLC now owns 939 shares of the financial services provider's stock worth $38,000 after purchasing an additional 449 shares during the period. 67.31% of the stock is currently owned by institutional investors and hedge funds.

ServisFirst Bancshares Price Performance

Shares of ServisFirst Bancshares stock opened at $40.22 on Monday. The business's 50-day moving average price is $40.99 and its 200-day moving average price is $40.79. ServisFirst Bancshares, Inc. has a 12 month low of $33.60 and a 12 month high of $46.04. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $4.40 billion, a PE ratio of 12.83 and a beta of 0.92.

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

ServisFirst Bancshares Announces Dividend

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

Analysts Set New Price Targets

Several brokerages have issued reports on SFBS. Weiss Ratings upgraded shares of ServisFirst Bancshares from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, October 9th. Piper Sandler reduced their price objective on ServisFirst Bancshares from $47.00 to $46.00 and set an "overweight" rating on the stock in a research report on Friday, October 2nd. Zacks Research cut shares of ServisFirst Bancshares from a "hold" rating to a "strong sell" rating in a research note on Tuesday, October 20th. Raymond James Financial cut 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 research report on Tuesday, October 6th. Finally, Wall Street Zen lowered shares of ServisFirst Bancshares from a "buy" rating to a "hold" rating in a research note on Sunday, August 30th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $46.50.

ServisFirst Bancshares Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.