Summit Financial LLC acquired a new stake in ServisFirst Bancshares, Inc. (NYSE:SFBS - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,725 shares of the financial services provider's stock, valued at approximately $473,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SFBS. Victory Capital Management Inc. boosted its position in 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 buying an additional 214,879 shares during the last quarter. Vanguard Group Inc. boosted its position in ServisFirst Bancshares by 3.3% in the 1st quarter. Vanguard Group Inc. now owns 5,902,237 shares of the financial services provider's stock valued at $487,525,000 after buying an additional 187,715 shares during the last quarter. Nuveen LLC bought a new position in shares of ServisFirst Bancshares during the first quarter worth about $12,726,000. GAMMA Investing LLC lifted its position in shares of 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 worth $11,592,000 after purchasing an additional 135,626 shares during the last quarter. Finally, Cubist Systematic Strategies LLC grew its stake in ServisFirst Bancshares by 340.8% in the fourth quarter. Cubist Systematic Strategies LLC now owns 67,640 shares of the financial services provider's stock worth $5,732,000 after purchasing an additional 52,294 shares in the last quarter. 67.31% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Separately, Piper Sandler boosted their price objective on ServisFirst Bancshares from $84.00 to $90.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $90.50.
Read Our Latest Research Report on ServisFirst Bancshares
ServisFirst Bancshares Stock Up 6.7%
Shares of ServisFirst Bancshares stock opened at $88.3580 on Monday. 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 firm has a market cap of $4.83 billion, a P/E ratio of 19.33 and a beta of 0.85. ServisFirst Bancshares, Inc. has a fifty-two week low of $66.48 and a fifty-two week high of $101.37. The business has a 50-day moving average price of $79.95 and a 200 day moving average price of $78.98.
ServisFirst Bancshares (NYSE:SFBS - Get Free Report) last released its quarterly earnings data 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 firm 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 quarter in the prior year, the business earned $0.95 earnings per share. On average, sell-side analysts forecast that ServisFirst Bancshares, Inc. will post 5.17 earnings per share for the current fiscal year.
ServisFirst Bancshares Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Tuesday, July 1st were paid a dividend of $0.335 per share. The ex-dividend date was Tuesday, July 1st. This represents a $1.34 annualized dividend and a yield of 1.5%. ServisFirst Bancshares's dividend payout ratio is 29.32%.
About ServisFirst Bancshares
(
Free Report)
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.
See Also
Want to see what other hedge funds are holding SFBS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ServisFirst Bancshares, Inc. (NYSE:SFBS - Free Report).
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