ServisFirst Bancshares, Inc. Plans Quarterly Dividend of $0.34 (NYSE:SFBS)

ServisFirst Bancshares, Inc. (NYSE:SFBS - Get Free Report) announced a quarterly dividend on Tuesday, June 17th, RTT News reports. Stockholders of record on Tuesday, July 1st will be paid a dividend of 0.335 per share by the financial services provider on Wednesday, July 9th. This represents a $1.34 dividend on an annualized basis and a dividend yield of 1.87%.

ServisFirst Bancshares has a payout ratio of 22.9% meaning its dividend is sufficiently covered by earnings. Analysts expect ServisFirst Bancshares to earn $6.14 per share next year, which means the company should continue to be able to cover its $1.34 annual dividend with an expected future payout ratio of 21.8%.

ServisFirst Bancshares Stock Performance

ServisFirst Bancshares stock traded down $0.65 during midday trading on Tuesday, reaching $71.75. 238,422 shares of the company traded hands, compared to its average volume of 228,091. ServisFirst Bancshares has a 12 month low of $58.51 and a 12 month high of $101.37. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.95 and a quick ratio of 0.95. The business has a 50 day moving average of $73.30 and a two-hundred day moving average of $82.03. The firm has a market capitalization of $3.92 billion, a price-to-earnings ratio of 17.25 and a beta of 0.85.

ServisFirst Bancshares (NYSE:SFBS - Get Free Report) last announced its earnings results on Monday, April 21st. The financial services provider reported $1.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.18 by ($0.02). ServisFirst Bancshares had a return on equity of 14.81% and a net margin of 23.16%. The firm had revenue of $131.83 million during the quarter, compared to analysts' expectations of $134.13 million. During the same period in the previous year, the business posted $0.94 earnings per share. As a group, research analysts predict that ServisFirst Bancshares will post 5.17 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Caxton Associates LLP bought a new position in ServisFirst Bancshares in the 1st quarter worth approximately $204,000. United Services Automobile Association purchased a new position in shares of ServisFirst Bancshares in the first quarter worth $260,000. AQR Capital Management LLC boosted its position in shares of ServisFirst Bancshares by 70.9% during the first quarter. AQR Capital Management LLC now owns 8,989 shares of the financial services provider's stock worth $742,000 after acquiring an additional 3,730 shares during the last quarter. Royal Bank of Canada grew its stake in ServisFirst Bancshares by 17.2% during the first quarter. Royal Bank of Canada now owns 16,815 shares of the financial services provider's stock valued at $1,390,000 after acquiring an additional 2,465 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in ServisFirst Bancshares by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,194 shares of the financial services provider's stock valued at $2,494,000 after acquiring an additional 1,308 shares in the last quarter. Hedge funds and other institutional investors own 67.31% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Piper Sandler cut their price target on ServisFirst Bancshares from $96.00 to $84.00 and set a "neutral" rating for the company in a report on Tuesday, April 22nd.

About ServisFirst Bancshares

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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