ServisFirst Bancshares (NYSE:SFBS) Hits New 12-Month High - Here's Why

Key Points

• ServisFirst Bancshares reached a new 52-week high, trading as high as $91.99. Analysts maintain a consensus “Buy” rating with an average price target of $95.33.
• The company reported quarterly earnings of $1.57 per share, in line with estimates, while revenue of $168.53 million exceeded expectations. Net margin was 30.95% and return on equity was 17.42%.
• ServisFirst declared a quarterly dividend of $0.38 per share, equivalent to a 1.7% yield, and announced a 2-for-1 stock split effective August 21.

Shares of ServisFirst Bancshares, Inc. (NYSE:SFBS - Get Free Report) hit a new 52-week high during trading on Thursday . The stock traded as high as $91.99 and last traded at $90.6070, with a volume of 7763 shares trading hands. The stock had previously closed at $90.45.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on SFBS shares. Piper Sandler increased their price objective on ServisFirst Bancshares from $91.00 to $94.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 21st. Weiss Ratings upgraded shares of ServisFirst Bancshares from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, June 1st. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, ServisFirst Bancshares currently has a consensus rating of "Buy" and a consensus target price of $95.33.

ServisFirst Bancshares Price Performance

The stock has a fifty day moving average of $85.63 and a 200-day moving average of $81.15. The firm has a market capitalization of $4.97 billion, a P/E ratio of 15.48 and a beta of 0.86. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.02.

ServisFirst Bancshares's stock is going to split on the morning of Friday, August 21st. The 2-1 split was announced on Monday, July 20th. The newly issued shares will be payable to shareholders after the closing bell on Thursday, August 20th.

ServisFirst Bancshares (NYSE:SFBS - Get Free Report) last issued its quarterly earnings data on Monday, July 20th. The financial services provider reported $1.57 EPS for the quarter, hitting analysts' consensus estimates of $1.57. ServisFirst Bancshares had a net margin of 30.95% and a return on equity of 17.42%. The firm had revenue of $168.53 million for the quarter, compared to analyst estimates of $167.85 million. Equities analysts predict that ServisFirst Bancshares, Inc. will post 6.46 EPS for the current fiscal year.

ServisFirst Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Wednesday, July 1st were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Wednesday, July 1st. ServisFirst Bancshares's dividend payout ratio is 25.89%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Salomon & Ludwin LLC boosted its position in ServisFirst Bancshares by 523.6% in the 4th quarter. Salomon & Ludwin LLC now owns 343 shares of the financial services provider's stock valued at $25,000 after buying an additional 288 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of ServisFirst Bancshares during the second quarter worth $31,000. State of Wyoming bought a new stake in shares of ServisFirst Bancshares during the second quarter worth $29,000. Danske Bank A S acquired a new position in shares of ServisFirst Bancshares during the third quarter valued at $32,000. Finally, Global Retirement Partners LLC acquired a new position in shares of ServisFirst Bancshares during the second quarter valued at $43,000. Institutional investors own 67.31% of the company's stock.

About ServisFirst Bancshares

ServisFirst Bancshares, Inc is a bank holding company headquartered in Birmingham, Alabama, and the parent of ServisFirst Bank. The company specializes in commercial banking services, catering primarily to small and mid-sized businesses, professionals and entrepreneurs. Its product portfolio encompasses commercial real estate lending, commercial and industrial loans, deposit accounts, treasury management and other ancillary banking products designed to meet the financial needs of its clients.

ServisFirst Bank offers a full suite of deposit products, including interest-bearing checking, money market accounts and certificates of deposit, as well as a variety of loan products.

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