Watchman Group Inc. Invests $2.52 Million in ServisFirst Bancshares, Inc. $SFBS

Key Points

• Watchman Group Inc. has acquired a new stake in ServisFirst Bancshares worth approximately $2.52 million, which represents about 0.06% ownership of the company.
• ServisFirst Bancshares recently reported earnings of $1.21 per share, slightly beating analyst expectations, though revenues fell short at $132.11 million.
• The company declared a quarterly dividend of $0.335, translating to an annualized yield of 1.6% and a payout ratio of 29.32%.

Watchman Group Inc. purchased a new position in shares of ServisFirst Bancshares, Inc. (NYSE:SFBS - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 30,526 shares of the financial services provider's stock, valued at approximately $2,521,000. Watchman Group Inc. owned approximately 0.06% of ServisFirst Bancshares as of its most recent SEC filing.

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

ServisFirst Bancshares Stock Up 0.5%

Shares of NYSE:SFBS traded up $0.4490 during mid-day trading on Wednesday, reaching $83.0090. 193,872 shares of the stock were exchanged, compared to its average volume of 201,879. 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 company has a market cap of $4.53 billion, a P/E ratio of 18.16 and a beta of 0.85. ServisFirst Bancshares, Inc. has a one year low of $66.48 and a one year high of $101.37. The stock's 50 day simple moving average is $79.45 and its 200-day simple moving average is $79.24.

ServisFirst Bancshares (NYSE:SFBS - Get Free Report) last posted its quarterly earnings data on Monday, July 21st. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.20 by $0.01. The business had revenue of $132.11 million during the quarter, compared to the consensus estimate 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 earned $0.95 earnings per share. As a group, equities research analysts predict that ServisFirst Bancshares, Inc. will post 5.17 EPS for the current year.

ServisFirst Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Tuesday, July 1st were paid a dividend of $0.335 per share. This represents a $1.34 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Tuesday, July 1st. ServisFirst Bancshares's dividend payout ratio is currently 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 stock a "neutral" rating in a report on Tuesday, July 22nd. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $90.50.

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.