ServisFirst Bancshares (NYSE:SFBS) Downgraded by Zacks Research to "Hold"

Key Points

• ServisFirst Bancshares was downgraded by Zacks Research from a "strong-buy" to a "hold" rating, reflecting a more cautious outlook on the stock.
• Piper Sandler has increased ServisFirst's target price from $84.00 to $90.00, maintaining a "neutral" rating amidst the downgrade by Zacks.
• The company reported earnings of $1.21 per share for the previous quarter, slightly exceeding analysts' expectations, despite revenue falling short of estimates.

ServisFirst Bancshares (NYSE:SFBS - Get Free Report) was downgraded by equities research analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a report issued on Monday,Zacks.com reports.

Separately, Piper Sandler upped 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. Three analysts have rated the stock with a Hold rating, According to MarketBeat.com, ServisFirst Bancshares currently has a consensus rating of "Hold" and a consensus price target of $90.50.

ServisFirst Bancshares Stock Performance

Shares of SFBS stock opened at $83.27 on Monday. The company's 50-day moving average is $83.24 and its 200 day moving average is $78.59. ServisFirst Bancshares has a one year low of $66.48 and a one year 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 market capitalization of $4.55 billion, a price-to-earnings ratio of 18.22 and a beta of 0.89.

ServisFirst Bancshares (NYSE:SFBS - Get Free Report) last announced its quarterly earnings data on Monday, July 21st. The financial services provider reported $1.21 earnings per share for the quarter, topping analysts' consensus estimates of $1.20 by $0.01. The company had revenue of $132.11 million during the quarter, compared to analyst estimates of $140.26 million. ServisFirst Bancshares had a net margin of 24.62% and a return on equity of 15.47%. During the same period in the previous year, the business earned $0.95 EPS. Sell-side analysts expect that ServisFirst Bancshares will post 5.17 EPS for the current fiscal year.

Insider Activity at ServisFirst Bancshares

In other news, CEO Thomas A. Broughton sold 22,206 shares of ServisFirst Bancshares stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $87.99, for a total transaction of $1,953,905.94. Following the transaction, the chief executive officer directly owned 592,588 shares of the company's stock, valued at $52,141,818.12. The trade was a 3.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.70% of the stock is owned by company insiders.

Institutional Trading of ServisFirst Bancshares

A number of hedge funds and other institutional investors have recently modified their holdings of SFBS. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of ServisFirst Bancshares by 36.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 96,153 shares of the financial services provider's stock worth $8,148,000 after purchasing an additional 25,785 shares in the last quarter. GTS Securities LLC purchased a new stake in shares of ServisFirst Bancshares in the fourth quarter worth about $225,000. GAMMA Investing LLC boosted 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 buying an additional 135,626 shares during the last quarter. Butensky & Cohen Financial Security Inc. purchased a new position in ServisFirst Bancshares during the 1st quarter valued at approximately $480,000. Finally, SG Americas Securities LLC purchased a new position in ServisFirst Bancshares during the 1st quarter valued at approximately $991,000. 67.31% of the stock is owned by hedge funds and other institutional investors.

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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