ServisFirst Bancshares (NYSE:SFBS) Issues Quarterly Earnings Results, Meets Expectations

Key Points

• ServisFirst Bancshares reported quarterly earnings of $1.57 per share, exactly matching Wall Street expectations. The company also posted a 28.80% net margin and a 16.95% return on equity.
• The stock fell 1.4% on the day to $85.68, after trading above its average volume. It remains below its 52-week high of $90.64 but well above its low of $67.20.
• The company recently paid a quarterly dividend of $0.38, or $1.52 annually, for a yield of about 1.8%. Analysts currently hold a consensus Buy rating with a price target of $94.33.

ServisFirst Bancshares (NYSE:SFBS - Get Free Report) released its earnings results on Monday. The financial services provider reported $1.57 earnings per share for the quarter, meeting analysts' consensus estimates of $1.57, FiscalAI reports. ServisFirst Bancshares had a net margin of 28.80% and a return on equity of 16.95%.

ServisFirst Bancshares Trading Down 1.4%

SFBS traded down $1.26 during trading on Monday, hitting $85.68. The company's stock had a trading volume of 372,430 shares, compared to its average volume of 310,448. ServisFirst Bancshares has a twelve month low of $67.20 and a twelve month high of $90.64. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.02. The stock's fifty day moving average price is $81.31 and its 200-day moving average price is $79.56. The firm has a market capitalization of $4.68 billion, a P/E ratio of 15.81 and a beta of 0.86.

ServisFirst Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Wednesday, July 1st were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Wednesday, July 1st. ServisFirst Bancshares's payout ratio is presently 28.04%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Mackenzie Financial Corp increased its stake in ServisFirst Bancshares by 4.9% during the 4th quarter. Mackenzie Financial Corp now owns 3,234 shares of the financial services provider's stock valued at $234,000 after purchasing an additional 152 shares in the last quarter. Abel Hall LLC bought a new position in shares of ServisFirst Bancshares in the fourth quarter valued at $230,000. Graham Capital Management L.P. bought a new position in shares of ServisFirst Bancshares in the fourth quarter valued at $221,000. Fieldview Capital Management LLC acquired a new position in shares of ServisFirst Bancshares during the fourth quarter valued at about $211,000. Finally, Vise Technologies Inc. grew its holdings in shares of ServisFirst Bancshares by 17.1% during the fourth quarter. Vise Technologies Inc. now owns 2,947 shares of the financial services provider's stock valued at $212,000 after buying an additional 431 shares during the last quarter. Institutional investors and hedge funds own 67.31% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on SFBS shares. Weiss Ratings raised shares of ServisFirst Bancshares from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, June 1st. Piper Sandler lifted their target price on shares of ServisFirst Bancshares from $89.00 to $91.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 21st. Finally, Zacks Research lowered shares of ServisFirst Bancshares from a "strong-buy" rating to a "hold" rating in a report on Monday, March 23rd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, ServisFirst Bancshares has a consensus rating of "Buy" and a consensus price target of $94.33.

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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