ServisFirst Bancshares (NYSE:SFBS) Reaches New 1-Year High - Here's Why

Key Points

• ServisFirst Bancshares reached a new 52-week high, trading as high as $90.86, while analysts maintain a consensus “Buy” rating and a $95.33 price target.
• The company’s latest quarterly results met expectations, with EPS of $1.57 and revenue of $168.53 million; analysts project full-year EPS of $6.46.
• ServisFirst announced a 2-for-1 stock split effective August 21 and pays a quarterly dividend of $0.38 per share, representing a 1.7% yield.

Shares of ServisFirst Bancshares, Inc. (NYSE:SFBS - Get Free Report) reached a new 52-week high on Monday . The stock traded as high as $90.86 and last traded at $89.79, with a volume of 27849 shares. The stock had previously closed at $89.50.

Wall Street Analyst Weigh In

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

ServisFirst Bancshares Trading Down 0.1%

The company has a debt-to-equity ratio of 0.02, a current ratio of 0.98 and a quick ratio of 0.98. The stock has a 50-day moving average price of $83.64 and a two-hundred day moving average price of $80.58. The stock has a market cap of $4.89 billion, a PE ratio of 15.27 and a beta of 0.86.

Shares of ServisFirst Bancshares are set 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 issued to shareholders after the closing bell on Thursday, August 20th.

ServisFirst Bancshares (NYSE:SFBS - Get Free Report) last announced its quarterly earnings results on Monday, July 20th. The financial services provider reported $1.57 EPS for the quarter, meeting analysts' consensus estimates of $1.57. The company had revenue of $168.53 million during the quarter, compared to analyst estimates of $167.85 million. ServisFirst Bancshares had a return on equity of 17.42% and a net margin of 30.95%. Sell-side analysts forecast that ServisFirst Bancshares, Inc. will post 6.46 earnings per share for the current fiscal year.

ServisFirst Bancshares Dividend Announcement

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

Institutional Investors Weigh In On ServisFirst Bancshares

Several large investors have recently bought and sold shares of SFBS. Salomon & Ludwin LLC raised its stake in ServisFirst Bancshares by 523.6% during the fourth quarter. Salomon & Ludwin LLC now owns 343 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 288 shares in the last quarter. State of Wyoming purchased a new position in shares of ServisFirst Bancshares in the 2nd quarter worth $29,000. Danske Bank A S bought a new stake in shares of ServisFirst Bancshares in the 3rd quarter worth about $32,000. CWM LLC increased its holdings in shares of ServisFirst Bancshares by 17.3% in the 4th quarter. CWM LLC now owns 955 shares of the financial services provider's stock worth $69,000 after buying an additional 141 shares during the last quarter. Finally, Covestor Ltd increased its holdings in shares of ServisFirst Bancshares by 111.1% in the 4th quarter. Covestor Ltd now owns 1,195 shares of the financial services provider's stock worth $86,000 after buying an additional 629 shares during the last quarter. Institutional investors own 67.31% of the company's stock.

ServisFirst Bancshares Company Profile

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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