Hovde Group Increases ServisFirst Bancshares (NYSE:SFBS) Price Target to $91.00

ServisFirst Bancshares (NYSE:SFBS) had its price target boosted by Hovde Group from $80.00 to $91.00 in a research report report published on Tuesday, Marketbeat reports. They currently have a market perform rating on the financial services provider’s stock.

Separately, Piper Sandler lifted their price objective on shares of ServisFirst Bancshares from $63.00 to $70.00 and gave the company a “neutral” rating in a report on Tuesday, July 16th.

ServisFirst Bancshares Stock Performance

NYSE SFBS opened at $82.69 on Tuesday. ServisFirst Bancshares has a fifty-two week low of $46.02 and a fifty-two week high of $88.86. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.94 and a current ratio of 0.95. The firm has a market capitalization of $4.51 billion, a P/E ratio of 22.65 and a beta of 0.86. The stock has a 50-day simple moving average of $80.50 and a two-hundred day simple moving average of $70.84.

ServisFirst Bancshares (NYSE:SFBS) last released its quarterly earnings data on Monday, October 21st. The financial services provider reported $1.10 EPS for the quarter, topping the consensus estimate of $0.97 by $0.13. The business had revenue of $256.53 million for the quarter, compared to analyst estimates of $120.70 million. ServisFirst Bancshares had a return on equity of 14.23% and a net margin of 21.16%. During the same quarter in the prior year, the firm posted $0.98 EPS. On average, equities analysts forecast that ServisFirst Bancshares will post 4.09 earnings per share for the current year.

ServisFirst Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Tuesday, October 1st were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date was Tuesday, October 1st. ServisFirst Bancshares’s dividend payout ratio (DPR) is presently 32.88%.

Insider Activity

In related news, COO Rodney Eldon Rushing sold 12,000 shares of the business’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $80.58, for a total value of $966,960.00. Following the completion of the sale, the chief operating officer now owns 307,837 shares of the company’s stock, valued at approximately $24,805,505.46. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 7.40% of the company’s stock.

Hedge Funds Weigh In On ServisFirst Bancshares

A number of hedge funds have recently made changes to their positions in SFBS. Raymond James & Associates increased its position in shares of ServisFirst Bancshares by 7.4% during the third quarter. Raymond James & Associates now owns 216,992 shares of the financial services provider’s stock worth $17,457,000 after purchasing an additional 14,859 shares in the last quarter. LifeSteps Financial Inc. purchased a new stake in shares of ServisFirst Bancshares during the third quarter worth $241,000. Creative Planning lifted its stake in shares of ServisFirst Bancshares by 6.5% in the third quarter. Creative Planning now owns 3,383 shares of the financial services provider’s stock worth $272,000 after buying an additional 205 shares in the last quarter. Mechanics Bank Trust Department acquired a new position in ServisFirst Bancshares during the third quarter worth about $225,000. Finally, Diversified Trust Co grew its stake in ServisFirst Bancshares by 6.8% during the 3rd quarter. Diversified Trust Co now owns 13,414 shares of the financial services provider’s stock valued at $1,079,000 after acquiring an additional 850 shares in the last quarter. Institutional investors and hedge funds own 67.31% of the company’s stock.

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.