Townsquare Capital LLC Trims Position in ServisFirst Bancshares, Inc. (NYSE:SFBS)

Key Points

• Townsquare Capital LLC reduced its holdings in ServisFirst Bancshares by 4.4%, now owning 90,044 shares, valued at approximately $7.44 million.
• Notable investors, including Raymond James and Victory Capital Management, have increased their stakes in ServisFirst Bancshares, reflecting growing institutional interest.
• ServisFirst Bancshares reported $1.21 EPS for the latest quarter, slightly exceeding analysts' expectations, with a revenue of $132.11 million, below forecasts.

Townsquare Capital LLC cut its position in ServisFirst Bancshares, Inc. (NYSE:SFBS - Free Report) by 4.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 90,044 shares of the financial services provider's stock after selling 4,122 shares during the period. Townsquare Capital LLC owned about 0.16% of ServisFirst Bancshares worth $7,438,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of SFBS. Raymond James Financial Inc. purchased a new stake in shares of ServisFirst Bancshares in the fourth quarter worth $19,639,000. Victory Capital Management Inc. grew its stake in ServisFirst Bancshares by 25.1% during the first quarter. Victory Capital Management Inc. now owns 1,072,614 shares of the financial services provider's stock valued at $88,598,000 after acquiring an additional 214,879 shares in the last quarter. Vanguard Group Inc. grew its stake in ServisFirst Bancshares by 3.3% during the first quarter. Vanguard Group Inc. now owns 5,902,237 shares of the financial services provider's stock valued at $487,525,000 after acquiring an additional 187,715 shares in the last quarter. GAMMA Investing LLC grew its stake 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 acquiring an additional 135,626 shares in the last quarter. Finally, Federated Hermes Inc. purchased a new position in ServisFirst Bancshares during the fourth quarter valued at $5,859,000. 67.31% of the stock is owned by hedge funds and other institutional investors.

ServisFirst Bancshares Stock Performance

SFBS opened at $77.33 on Friday. ServisFirst Bancshares, Inc. has a fifty-two week low of $66.48 and a fifty-two week high of $101.37. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.96 and a current ratio of 0.96. The company has a fifty day moving average of $78.29 and a 200 day moving average of $79.62. The stock has a market capitalization of $4.22 billion, a price-to-earnings ratio of 16.92 and a beta of 0.85.

ServisFirst Bancshares (NYSE:SFBS - Get Free Report) last released its quarterly earnings data on Monday, July 21st. The financial services provider reported $1.21 EPS for the quarter, beating the consensus estimate of $1.20 by $0.01. ServisFirst Bancshares had a net margin of 24.62% and a return on equity of 15.47%. The business had revenue of $132.11 million during the quarter, compared to analyst estimates of $140.26 million. During the same quarter last year, the business earned $0.95 earnings per share. As a group, 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. Shareholders of record on Tuesday, July 1st were given 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 1.7%. ServisFirst Bancshares's dividend payout ratio (DPR) is 29.32%.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler raised their target price on shares of ServisFirst Bancshares from $84.00 to $90.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd.

ServisFirst Bancshares Profile

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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