ServisFirst Bancshares (NYSE:SFBS) Announces Earnings Results, Beats Estimates By $0.01 EPS

ServisFirst Bancshares (NYSE:SFBS - Get Free Report) released its earnings results on Monday. The financial services provider reported $1.21 EPS for the quarter, beating the consensus estimate of $1.20 by $0.01, Zacks reports. ServisFirst Bancshares had a net margin of 24.62% and a return on equity of 15.47%. The company had revenue of $132.11 million for the quarter, compared to analyst estimates of $140.26 million. During the same quarter last year, the firm earned $0.95 EPS.

ServisFirst Bancshares Trading Down 2.4%

SFBS traded down $2.01 during trading on Thursday, hitting $81.67. 166,785 shares of the stock traded hands, compared to its average volume of 284,321. The firm has a 50-day moving average of $77.33 and a 200 day moving average of $80.25. ServisFirst Bancshares has a 12-month low of $66.48 and a 12-month high of $101.37. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.96 and a quick ratio of 0.96. The firm has a market capitalization of $4.46 billion, a P/E ratio of 17.87 and a beta of 0.84.

ServisFirst Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Tuesday, July 1st were given a dividend of $0.335 per share. The ex-dividend date of this dividend was Tuesday, July 1st. This represents a $1.34 annualized dividend and a yield of 1.64%. ServisFirst Bancshares's payout ratio is currently 29.32%.

Analyst Upgrades and Downgrades

Separately, Piper Sandler increased their price target on shares of ServisFirst Bancshares from $84.00 to $90.00 and gave the company a "neutral" rating in a research report on Tuesday.

Institutional Investors Weigh In On ServisFirst Bancshares

Institutional investors and hedge funds have recently modified their holdings of the stock. Millennium Management LLC lifted its position in shares of ServisFirst Bancshares by 107.3% in the 1st quarter. Millennium Management LLC now owns 146,442 shares of the financial services provider's stock worth $12,096,000 after purchasing an additional 75,799 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of ServisFirst Bancshares by 7.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 102,921 shares of the financial services provider's stock worth $8,501,000 after purchasing an additional 6,768 shares during the period. Jane Street Group LLC purchased a new stake in shares of ServisFirst Bancshares in the 1st quarter worth about $7,936,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of ServisFirst Bancshares by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,194 shares of the financial services provider's stock worth $2,494,000 after purchasing an additional 1,308 shares during the period. Finally, Royal Bank of Canada lifted its position in shares of ServisFirst Bancshares by 17.2% in the 1st quarter. Royal Bank of Canada now owns 16,815 shares of the financial services provider's stock worth $1,390,000 after purchasing an additional 2,465 shares during the period. 67.31% of the stock is owned by hedge funds and other institutional investors.

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.