KLP Kapitalforvaltning AS Acquires 700 Shares of ServisFirst Bancshares, Inc. $SFBS

KLP Kapitalforvaltning AS raised its holdings in ServisFirst Bancshares, Inc. (NYSE:SFBS) by 6.8% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,000 shares of the financial services provider’s stock after acquiring an additional 700 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in ServisFirst Bancshares were worth $853,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the business. Envestnet Asset Management Inc. grew its position in shares of ServisFirst Bancshares by 7.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 164,414 shares of the financial services provider’s stock worth $13,581,000 after buying an additional 11,194 shares in the last quarter. KBC Group NV grew its position in shares of ServisFirst Bancshares by 6.0% during the 1st quarter. KBC Group NV now owns 2,466 shares of the financial services provider’s stock worth $204,000 after buying an additional 140 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of ServisFirst Bancshares during the 1st quarter worth $991,000. Bessemer Group Inc. grew its position in shares of ServisFirst Bancshares by 6.4% during the 1st quarter. Bessemer Group Inc. now owns 21,961 shares of the financial services provider’s stock worth $1,814,000 after buying an additional 1,321 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of ServisFirst Bancshares by 0.3% during the 1st quarter. Principal Financial Group Inc. now owns 1,056,878 shares of the financial services provider’s stock worth $87,298,000 after buying an additional 3,405 shares in the last quarter. Institutional investors own 67.31% of the company’s stock.

ServisFirst Bancshares Trading Down 1.5%

ServisFirst Bancshares stock opened at $79.76 on Thursday. The stock has a 50-day moving average of $83.30 and a two-hundred day moving average of $78.42. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.96 and a current ratio of 0.96. ServisFirst Bancshares, Inc. has a one year low of $66.48 and a one year high of $101.37. The stock has a market cap of $4.36 billion, a PE ratio of 17.45 and a beta of 0.85.

ServisFirst Bancshares (NYSE:SFBS) last released its quarterly earnings results on Tuesday, August 10th. The financial services provider reported $1.07 EPS for the quarter. ServisFirst Bancshares had a return on equity of 15.47% and a net margin of 24.62%.The company had revenue of $104.27 million during the quarter. On average, research analysts anticipate that ServisFirst Bancshares, Inc. will post 5.17 EPS for the current fiscal year.

ServisFirst Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Wednesday, October 1st were paid a $0.335 dividend. The ex-dividend date was Wednesday, October 1st. This represents a $1.34 dividend on an annualized basis and a yield of 1.7%. ServisFirst Bancshares’s dividend payout ratio (DPR) is 29.32%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Zacks Research downgraded ServisFirst Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 22nd. Piper Sandler increased their price target on ServisFirst Bancshares from $84.00 to $90.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 22nd. Raymond James Financial upgraded ServisFirst Bancshares from a “market perform” rating to an “outperform” rating and set a $95.00 price objective for the company in a research note on Tuesday, October 7th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of ServisFirst Bancshares in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $92.00.

Insider Buying and Selling

In other ServisFirst Bancshares news, CEO Thomas A. Broughton sold 22,206 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 592,588 shares in the company, valued at approximately $52,141,818.12. This trade represents a 3.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 6.70% of the company’s stock.

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.