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Hovde Group Issues Pessimistic Forecast for ServisFirst Bancshares (NYSE:SFBS) Stock Price

ServisFirst Bancshares logo with Finance background

Key Points

  • The Hovde Group has downgraded its price target for ServisFirst Bancshares from $92.00 to $85.00, maintaining a "market perform" rating, which suggests an upside potential of 11.25% from the last closing price.
  • In light of various analyst reports, ServisFirst Bancshares has an overall consensus rating of "Hold" with an average target price of $90.00, reflecting mixed opinions from other brokerages.
  • CEO Thomas A. Broughton sold 22,206 shares of the company, decreasing his ownership by 3.61%, while institutional investors control 67.31% of the stock.
  • Five stocks to consider instead of ServisFirst Bancshares.

ServisFirst Bancshares (NYSE:SFBS - Get Free Report) had its price target dropped by stock analysts at Hovde Group from $92.00 to $85.00 in a research note issued on Tuesday, MarketBeat reports. The brokerage currently has a "market perform" rating on the financial services provider's stock. Hovde Group's price target indicates a potential upside of 11.25% from the company's previous close.

SFBS has been the topic of several other reports. Zacks Research cut ServisFirst Bancshares from a "strong-buy" rating to a "hold" rating in a report on Monday, September 22nd. Weiss Ratings reiterated a "hold (c+)" rating on shares of ServisFirst Bancshares in a report on Wednesday, October 8th. Raymond James Financial upgraded ServisFirst Bancshares from a "market perform" rating to an "outperform" rating and set a $95.00 target price on the stock in a report on Tuesday, October 7th. Finally, Piper Sandler upped their target price on ServisFirst Bancshares from $84.00 to $90.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $90.00.

Check Out Our Latest Stock Report on ServisFirst Bancshares

ServisFirst Bancshares Stock Performance

NYSE:SFBS opened at $76.41 on Tuesday. The stock has a market cap of $4.17 billion, a P/E ratio of 16.72 and a beta of 0.85. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.04. The stock's 50-day moving average is $83.19 and its 200-day moving average is $78.37. ServisFirst Bancshares has a 1-year low of $66.48 and a 1-year high of $101.37.

ServisFirst Bancshares (NYSE:SFBS - Get Free Report) last released its quarterly earnings results on Tuesday, August 10th. The financial services provider reported $1.07 earnings per share for the quarter. The company had revenue of $104.27 million for the quarter. ServisFirst Bancshares had a return on equity of 15.47% and a net margin of 24.62%. Equities research analysts anticipate that ServisFirst Bancshares will post 5.17 earnings per share for the current year.

Insider Transactions at ServisFirst Bancshares

In other ServisFirst Bancshares news, CEO Thomas A. Broughton sold 22,206 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $87.99, for a total value of $1,953,905.94. Following the transaction, the chief executive officer directly owned 592,588 shares of the company's stock, valued at approximately $52,141,818.12. The trade was a 3.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 6.70% of the company's stock.

Hedge Funds Weigh In On ServisFirst Bancshares

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of 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 worth $487,525,000 after purchasing an additional 187,715 shares during the period. Champlain Investment Partners LLC raised its position in shares of ServisFirst Bancshares by 15.7% during the second quarter. Champlain Investment Partners LLC now owns 2,566,528 shares of the financial services provider's stock worth $198,932,000 after purchasing an additional 349,177 shares during the period. Victory Capital Management Inc. raised its position in shares of 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 worth $88,598,000 after purchasing an additional 214,879 shares during the period. Principal Financial Group Inc. raised its position in shares of ServisFirst Bancshares by 0.3% during the first quarter. Principal Financial Group Inc. now owns 1,056,878 shares of the financial services provider's stock worth $87,298,000 after purchasing an additional 3,405 shares during the period. Finally, Welch Group LLC raised its position in shares of ServisFirst Bancshares by 1.0% during the third quarter. Welch Group LLC now owns 983,776 shares of the financial services provider's stock worth $79,223,000 after purchasing an additional 9,618 shares during the period. 67.31% of the stock is owned by institutional investors and hedge funds.

About ServisFirst Bancshares

(Get 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.

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Analyst Recommendations for ServisFirst Bancshares (NYSE:SFBS)

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