Point72 Asia Singapore Pte. Ltd. Acquires Shares of 1,330 ServisFirst Bancshares, Inc. (NYSE:SFBS)

Point72 Asia Singapore Pte. Ltd. bought a new position in shares of ServisFirst Bancshares, Inc. (NYSE:SFBS) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 1,330 shares of the financial services provider’s stock, valued at approximately $84,000.

A number of other institutional investors have also made changes to their positions in SFBS. Cubist Systematic Strategies LLC acquired a new position in ServisFirst Bancshares in the 2nd quarter valued at about $807,000. Marshall Wace LLP acquired a new position in shares of ServisFirst Bancshares in the second quarter valued at approximately $2,700,000. Bank of Montreal Can increased its stake in shares of ServisFirst Bancshares by 18.3% during the second quarter. Bank of Montreal Can now owns 24,499 shares of the financial services provider’s stock worth $1,551,000 after purchasing an additional 3,791 shares during the period. Public Sector Pension Investment Board boosted its stake in ServisFirst Bancshares by 7.5% in the 2nd quarter. Public Sector Pension Investment Board now owns 107,930 shares of the financial services provider’s stock valued at $6,820,000 after purchasing an additional 7,503 shares during the period. Finally, Profund Advisors LLC boosted its stake in ServisFirst Bancshares by 10.5% in the 2nd quarter. Profund Advisors LLC now owns 4,047 shares of the financial services provider’s stock valued at $256,000 after purchasing an additional 384 shares during the period. 67.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SFBS. Piper Sandler lifted their target price on ServisFirst Bancshares from $63.00 to $70.00 and gave the stock a “neutral” rating in a report on Tuesday, July 16th. Hovde Group boosted their price objective on shares of ServisFirst Bancshares from $68.00 to $76.00 and gave the company a “market perform” rating in a report on Tuesday, July 16th.

ServisFirst Bancshares Price Performance

Shares of NYSE SFBS opened at $79.09 on Monday. The stock has a market capitalization of $4.31 billion, a PE ratio of 21.67 and a beta of 0.87. ServisFirst Bancshares, Inc. has a fifty-two week low of $45.21 and a fifty-two week high of $86.46. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.94 and a quick ratio of 0.94. The business has a fifty day moving average price of $78.37 and a two-hundred day moving average price of $68.38.

ServisFirst Bancshares (NYSE:SFBS) last announced its quarterly earnings data on Monday, July 15th. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.04. ServisFirst Bancshares had a net margin of 21.25% and a return on equity of 14.19%. The firm had revenue of $114.77 million for the quarter, compared to the consensus estimate of $114.80 million. As a group, equities analysts predict that ServisFirst Bancshares, Inc. will post 3.82 earnings per share for the current fiscal year.

ServisFirst Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 8th. Investors of record on Tuesday, October 1st will be paid a $0.30 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $1.20 dividend on an annualized basis and a yield of 1.52%. ServisFirst Bancshares’s dividend payout ratio (DPR) is 32.88%.

Insider Buying and Selling at ServisFirst Bancshares

In other news, COO Rodney Eldon Rushing sold 12,000 shares of ServisFirst Bancshares stock in a transaction on Wednesday, September 18th. The stock was 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 in the company, valued at approximately $24,805,505.46. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 7.40% 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.