ServisFirst Bancshares, Inc. $SFBS Stock Position Reduced by GAMMA Investing LLC

GAMMA Investing LLC lessened its stake in ServisFirst Bancshares, Inc. (NYSE:SFBS) by 33.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,127 shares of the financial services provider’s stock after selling 572 shares during the quarter. GAMMA Investing LLC’s holdings in ServisFirst Bancshares were worth $87,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of ServisFirst Bancshares by 3.3% during the 1st quarter. Vanguard Group Inc. now owns 5,902,237 shares of the financial services provider’s stock valued at $487,525,000 after acquiring an additional 187,715 shares in the last quarter. Champlain Investment Partners LLC boosted its position in ServisFirst Bancshares by 68.9% during the first quarter. Champlain Investment Partners LLC now owns 2,217,351 shares of the financial services provider’s stock valued at $183,153,000 after purchasing an additional 904,445 shares during the last quarter. Victory Capital Management Inc. boosted its position in ServisFirst Bancshares by 25.1% during the first quarter. Victory Capital Management Inc. now owns 1,072,614 shares of the financial services provider’s stock valued at $88,598,000 after purchasing an additional 214,879 shares during the last quarter. Principal Financial Group Inc. grew its stake in ServisFirst Bancshares by 0.3% in the first quarter. Principal Financial Group Inc. now owns 1,056,878 shares of the financial services provider’s stock valued at $87,298,000 after purchasing an additional 3,405 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in ServisFirst Bancshares by 3.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 539,480 shares of the financial services provider’s stock worth $44,561,000 after purchasing an additional 18,415 shares during the last quarter. Hedge funds and other institutional investors own 67.31% of the company’s stock.

Analyst Ratings Changes

SFBS has been the subject of several research reports. Zacks Research lowered ServisFirst Bancshares from a “strong-buy” rating to a “hold” rating in a report on Monday, September 22nd. Piper Sandler raised their price objective on shares of ServisFirst Bancshares from $84.00 to $90.00 and gave the company a “neutral” rating in a research report on Tuesday, July 22nd. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $90.50.

ServisFirst Bancshares Price Performance

NYSE SFBS opened at $81.01 on Friday. ServisFirst Bancshares, Inc. has a 1 year low of $66.48 and a 1 year high of $101.37. The company has a fifty day simple moving average of $83.08 and a 200 day simple moving average of $78.59. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.04. The company has a market cap of $4.42 billion, a P/E ratio of 17.73 and a beta of 0.85.

ServisFirst Bancshares (NYSE:SFBS) last released its earnings results on Monday, July 21st. The financial services provider reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.01. ServisFirst Bancshares had a net margin of 24.62% and a return on equity of 15.47%. The firm had revenue of $132.11 million during the quarter, compared to analyst estimates of $140.26 million. During the same quarter in the previous year, the business earned $0.95 EPS. On average, sell-side analysts predict that ServisFirst Bancshares, Inc. will post 5.17 EPS for the current year.

ServisFirst Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Wednesday, October 1st will be given a dividend of $0.335 per share. This represents a $1.34 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Wednesday, October 1st. ServisFirst Bancshares’s payout ratio is currently 29.32%.

Insiders Place Their Bets

In other ServisFirst Bancshares news, CEO Thomas A. Broughton sold 22,206 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $87.99, for a total value of $1,953,905.94. Following the sale, the chief executive officer owned 592,588 shares of the company’s stock, valued at $52,141,818.12. This trade represents a 3.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 6.70% of the stock is currently owned by insiders.

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.