Corebridge Financial Inc. Has $2.19 Million Stake in ServisFirst Bancshares, Inc. $SFBS

Corebridge Financial Inc. decreased its holdings in shares of ServisFirst Bancshares, Inc. (NYSE:SFBS) by 1.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,479 shares of the financial services provider’s stock after selling 516 shares during the quarter. Corebridge Financial Inc.’s holdings in ServisFirst Bancshares were worth $2,187,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. BI Asset Management Fondsmaeglerselskab A S acquired a new position in ServisFirst Bancshares during the first quarter worth $171,000. KBC Group NV boosted its holdings in ServisFirst Bancshares by 6.0% during the first quarter. KBC Group NV now owns 2,466 shares of the financial services provider’s stock worth $204,000 after purchasing an additional 140 shares during the last quarter. Occudo Quantitative Strategies LP acquired a new position in ServisFirst Bancshares during the fourth quarter worth $219,000. GTS Securities LLC acquired a new position in ServisFirst Bancshares during the fourth quarter worth $225,000. Finally, OMERS ADMINISTRATION Corp acquired a new position in ServisFirst Bancshares during the fourth quarter worth $297,000. Institutional investors and hedge funds own 67.31% of the company’s stock.

Analysts Set New Price Targets

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 note on Tuesday, July 22nd. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, ServisFirst Bancshares currently has a consensus rating of “Hold” and a consensus target price of $90.50.

Insider Buying and Selling at ServisFirst Bancshares

In other news, CEO Thomas A. Broughton sold 22,206 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $87.99, for a total value of $1,953,905.94. Following the transaction, the chief executive officer directly owned 592,588 shares of the company’s stock, valued at $52,141,818.12. This represents a 3.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.70% of the stock is owned by insiders.

ServisFirst Bancshares Stock Performance

Shares of SFBS stock opened at $87.52 on Wednesday. The stock has a market cap of $4.78 billion, a P/E ratio of 19.15 and a beta of 0.89. 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 company has a fifty day moving average price of $82.03 and a two-hundred day moving average price of $78.98. ServisFirst Bancshares, Inc. has a one year low of $66.48 and a one year high of $101.37.

ServisFirst Bancshares (NYSE:SFBS) last announced its quarterly earnings results on Monday, July 21st. The financial services provider reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.01. The firm had revenue of $132.11 million during the quarter, compared to analysts’ expectations of $140.26 million. ServisFirst Bancshares had a net margin of 24.62% and a return on equity of 15.47%. During the same quarter last year, the company posted $0.95 earnings per share. As a group, equities analysts predict that ServisFirst Bancshares, Inc. will post 5.17 EPS for the current year.

ServisFirst Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Tuesday, July 1st were given a $0.335 dividend. The ex-dividend date of this dividend was Tuesday, July 1st. This represents a $1.34 annualized dividend and a dividend yield of 1.5%. ServisFirst Bancshares’s dividend payout ratio is presently 29.32%.

ServisFirst Bancshares 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.