ServisFirst Bancshares, Inc. (NYSE:SFBS) Shares Sold by Townsquare Capital LLC

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 lowered its holdings in ServisFirst Bancshares, Inc. (NYSE:SFBS - Free Report) by 4.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 90,044 shares of the financial services provider's stock after selling 4,122 shares during the quarter. Townsquare Capital LLC owned approximately 0.16% of ServisFirst Bancshares worth $7,438,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quarry LP purchased a new position in ServisFirst Bancshares during the fourth quarter valued at $30,000. Sterling Capital Management LLC grew its stake in ServisFirst Bancshares by 761.6% in the fourth quarter. Sterling Capital Management LLC now owns 1,189 shares of the financial services provider's stock worth $101,000 after purchasing an additional 1,051 shares in the last quarter. KBC Group NV grew its stake in ServisFirst Bancshares by 6.0% in the first quarter. KBC Group NV now owns 2,466 shares of the financial services provider's stock worth $204,000 after purchasing an additional 140 shares in the last quarter. Advisors Capital Management LLC purchased a new stake in ServisFirst Bancshares during the fourth quarter worth $210,000. Finally, Occudo Quantitative Strategies LP purchased a new stake in shares of ServisFirst Bancshares during the 4th quarter valued at $219,000. Hedge funds and other institutional investors own 67.31% of the company's stock.

Analyst Ratings Changes

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

ServisFirst Bancshares Price Performance

ServisFirst Bancshares stock traded down $0.99 during midday trading on Thursday, reaching $82.84. The company had a trading volume of 143,671 shares, compared to its average volume of 229,869. The company has a market capitalization of $4.52 billion, a P/E ratio of 18.13 and a beta of 0.85. The firm's fifty day simple moving average is $78.91 and its 200-day simple moving average is $79.49. ServisFirst Bancshares, Inc. has a 12-month low of $66.48 and a 12-month high of $101.37. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.96 and a quick ratio of 0.96.

ServisFirst Bancshares (NYSE:SFBS - Get Free Report) last released its quarterly earnings results 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 firm had revenue of $132.11 million for the quarter, compared to analyst estimates of $140.26 million. During the same quarter in the previous year, the company earned $0.95 EPS. As a group, equities analysts anticipate that ServisFirst Bancshares, Inc. will post 5.17 EPS for the current year.

ServisFirst Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Tuesday, July 1st were given a $0.335 dividend. The ex-dividend date of this dividend was Tuesday, July 1st. This represents a $1.34 dividend on an annualized basis and a yield of 1.6%. ServisFirst Bancshares's payout ratio is presently 29.32%.

ServisFirst Bancshares Company 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.