ServisFirst Bancshares (NYSE:SFBS) PT Raised to $79.00

ServisFirst Bancshares (NYSE:SFBS) had its price target boosted by equities researchers at Piper Sandler from $76.00 to $79.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s price target would suggest a potential downside of 6.15% from the stock’s current price.

Separately, Hovde Group boosted their price objective on ServisFirst Bancshares from $80.00 to $91.00 and gave the company a “market perform” rating in a research note on Tuesday.

ServisFirst Bancshares Price Performance

Shares of NYSE:SFBS opened at $84.18 on Tuesday. The firm has a market capitalization of $4.59 billion, a PE ratio of 23.25 and a beta of 0.86. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.04. The company has a 50-day moving average price of $80.20 and a two-hundred day moving average price of $70.61. ServisFirst Bancshares has a twelve month low of $45.21 and a twelve month high of $88.86.

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. ServisFirst Bancshares had a net margin of 21.25% and a return on equity of 14.19%. The company had revenue of $256.53 million during the quarter, compared to the consensus estimate of $120.70 million. During the same period last year, the firm earned $0.98 EPS. Equities analysts forecast that ServisFirst Bancshares will post 3.88 EPS for the current year.

Insider Buying and Selling at ServisFirst Bancshares

In other news, COO Rodney Eldon Rushing sold 12,000 shares of the company’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 transaction, the chief operating officer now owns 307,837 shares of the company’s stock, valued at approximately $24,805,505.46. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 7.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Raymond James & Associates lifted its position in ServisFirst Bancshares by 7.4% during the third quarter. Raymond James & Associates now owns 216,992 shares of the financial services provider’s stock valued at $17,457,000 after purchasing an additional 14,859 shares during the last quarter. LifeSteps Financial Inc. bought a new stake in shares of ServisFirst Bancshares during the 3rd quarter worth $241,000. Creative Planning lifted its holdings in shares of ServisFirst Bancshares by 6.5% during the 3rd quarter. Creative Planning now owns 3,383 shares of the financial services provider’s stock worth $272,000 after acquiring an additional 205 shares during the last quarter. Mechanics Bank Trust Department purchased a new position in ServisFirst Bancshares in the third quarter worth $225,000. Finally, Diversified Trust Co raised its position in ServisFirst Bancshares by 6.8% during the third quarter. Diversified Trust Co now owns 13,414 shares of the financial services provider’s stock valued at $1,079,000 after purchasing an additional 850 shares in the last quarter. Hedge funds and other institutional investors own 67.31% of the company’s stock.

ServisFirst Bancshares Company 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.