ServisFirst Bancshares (NYSE:SFBS) Issues Quarterly Earnings Results

ServisFirst Bancshares (NYSE:SFBS - Get Free Report) released its earnings results on Monday. The financial services provider reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.01, Zacks reports. ServisFirst Bancshares had a net margin of 24.16% and a return on equity of 15.11%. The firm had revenue of $132.11 million during the quarter, compared to analyst estimates of $140.26 million.

ServisFirst Bancshares Stock Down 0.5%

ServisFirst Bancshares stock traded down $0.42 during mid-day trading on Monday, hitting $82.58. 288,076 shares of the company's stock were exchanged, compared to its average volume of 228,430. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.04. The stock has a market cap of $4.51 billion, a P/E ratio of 18.77 and a beta of 0.84. ServisFirst Bancshares has a 1-year low of $66.48 and a 1-year high of $101.37. The stock has a 50 day moving average of $77.03 and a two-hundred day moving average of $80.21.

ServisFirst Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Tuesday, July 1st were paid a $0.335 dividend. The ex-dividend date was Tuesday, July 1st. This represents a $1.34 annualized dividend and a dividend yield of 1.62%. ServisFirst Bancshares's payout ratio is 30.45%.

Institutional Investors Weigh In On ServisFirst Bancshares

Institutional investors have recently added to or reduced their stakes in the company. Millennium Management LLC raised its stake in shares of ServisFirst Bancshares by 107.3% in the first quarter. Millennium Management LLC now owns 146,442 shares of the financial services provider's stock valued at $12,096,000 after acquiring an additional 75,799 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased 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 valued at $8,501,000 after buying an additional 6,768 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of ServisFirst Bancshares during the first quarter worth about $7,936,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of 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 worth $2,494,000 after purchasing an additional 1,308 shares during the period. Finally, Royal Bank of Canada increased its holdings in ServisFirst Bancshares by 17.2% during 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 in the last quarter. 67.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Piper Sandler dropped their target price on ServisFirst Bancshares from $96.00 to $84.00 and set a "neutral" rating on the stock 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.