ServisFirst Bancshares (NYSE:SFBS) Given New $80.00 Price Target at Piper Sandler

Key Points

• Piper Sandler has lowered the price target for ServisFirst Bancshares from $90.00 to $80.00, suggesting an 11.41% upside based on the company's recent closing price.
• Other analysts, including Hovde Group and Zacks Research, have also adjusted their ratings, with Zacks downgrading the stock to a "hold" from a "strong-buy."
• The company recently reported a quarterly EPS of $1.07 and a revenue of $104.27 million, with a return on equity of 15.47%.

ServisFirst Bancshares (NYSE:SFBS - Get Free Report) had its price target cut by research analysts at Piper Sandler from $90.00 to $80.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a "neutral" rating on the financial services provider's stock. Piper Sandler's target price suggests a potential upside of 11.41% from the company's previous close.

Several other analysts also recently weighed in on the company. Hovde Group cut their target price on ServisFirst Bancshares from $92.00 to $85.00 and set a "market perform" rating on the stock in a research note on Tuesday. Zacks Research downgraded ServisFirst Bancshares from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 22nd. Weiss Ratings reissued a "hold (c+)" rating on shares of ServisFirst Bancshares in a research note on Wednesday, October 8th. Finally, Raymond James Financial raised ServisFirst Bancshares from a "market perform" rating to an "outperform" rating and set a $95.00 price objective on the stock in a research note on Tuesday, October 7th. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $86.67.

ServisFirst Bancshares Stock Performance

ServisFirst Bancshares stock traded down $4.49 during mid-day trading on Tuesday, hitting $71.81. 231,815 shares of the company's stock traded hands, compared to its average volume of 230,992. The firm has a 50 day moving average price of $83.19 and a 200 day moving average price of $78.37. 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 $3.92 billion, a PE ratio of 15.67 and a beta of 0.85. ServisFirst Bancshares has a one year low of $66.48 and a one year high of $101.37.

ServisFirst Bancshares (NYSE:SFBS - Get Free Report) last announced its earnings results on Tuesday, August 10th. The financial services provider reported $1.07 earnings per share for the quarter. The firm 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%. On average, equities analysts forecast that ServisFirst Bancshares will post 5.17 EPS for the current year.

Insider Activity

In other news, CEO Thomas A. Broughton sold 22,206 shares of the business's stock in a transaction on 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 sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 6.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. grew its holdings in shares of ServisFirst Bancshares by 6.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,094 shares of the financial services provider's stock valued at $162,000 after buying an additional 125 shares in the last quarter. Ameritas Investment Partners Inc. grew its stake in ServisFirst Bancshares by 2.7% in the second quarter. Ameritas Investment Partners Inc. now owns 5,271 shares of the financial services provider's stock valued at $409,000 after purchasing an additional 138 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 valued at $204,000 after purchasing an additional 140 shares in the last quarter. Bank of Montreal Can grew its stake in ServisFirst Bancshares by 0.5% in the second quarter. Bank of Montreal Can now owns 28,507 shares of the financial services provider's stock valued at $2,210,000 after purchasing an additional 142 shares in the last quarter. Finally, Wallace Advisory Group LLC grew its stake in ServisFirst Bancshares by 4.0% in the second quarter. Wallace Advisory Group LLC now owns 3,852 shares of the financial services provider's stock valued at $318,000 after purchasing an additional 149 shares in the last quarter. Hedge funds and other institutional investors own 67.31% of the company's stock.

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.

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