ServisFirst Bancshares (NYSE:SFBS) Upgraded to "Buy" at Wall Street Zen

Key Points

• Wall Street Zen upgraded ServisFirst Bancshares from “hold” to “buy,” while the broader analyst consensus is also “Buy” with an average price target of $47.67.
• SFBS was trading at $43.31, near its 52-week high of $46.04, with a $2.37 billion market capitalization and a price-to-earnings ratio of 7.38.
• The company met quarterly earnings expectations at $0.78 per share and slightly exceeded revenue estimates, reporting $168.53 million; institutional investors own 67.31% of its stock.

ServisFirst Bancshares (NYSE:SFBS - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued to investors on Saturday.

Several other research analysts have also recently weighed in on the stock. Piper Sandler boosted their price target on shares of ServisFirst Bancshares from $45.50 to $47.00 and gave the company an "overweight" rating in a research 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 assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $47.67.

ServisFirst Bancshares Price Performance

NYSE:SFBS opened at $43.31 on Friday. ServisFirst Bancshares has a one year low of $33.60 and a one year high of $46.04. The stock has a market cap of $2.37 billion, a PE ratio of 7.38 and a beta of 0.86. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a 50 day moving average price of $43.48 and a 200 day moving average price of $40.77.

ServisFirst Bancshares (NYSE:SFBS - Get Free Report) last released its quarterly earnings data on Monday, July 20th. The financial services provider reported $0.78 earnings per share for the quarter, hitting analysts' consensus estimates of $0.78. The company had revenue of $168.53 million for 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%. Equities research analysts expect that ServisFirst Bancshares will post 6.46 EPS for the current fiscal year.

Institutional Investors Weigh In On ServisFirst Bancshares

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SFBS. State of Wyoming acquired a new position in shares of ServisFirst Bancshares in the 2nd quarter valued at $29,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of ServisFirst Bancshares during the 2nd quarter worth about $31,000. Danske Bank A S acquired a new stake in shares of ServisFirst Bancshares during the 3rd quarter worth about $32,000. Public Employees Retirement System of Ohio purchased a new stake in ServisFirst Bancshares in the 2nd quarter valued at about $34,000. Finally, Global Retirement Partners LLC purchased a new stake in ServisFirst Bancshares in the 2nd quarter valued at about $43,000. Institutional investors and hedge funds 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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