ServisFirst Bancshares (NYSE:SFBS) Stock Rating Upgraded by Hovde Group

ServisFirst Bancshares (NYSE:SFBS) was upgraded by stock analysts at Hovde Group from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Friday, Marketbeat Ratings reports. The firm presently has a $89.00 target price on the financial services provider’s stock. Hovde Group’s price objective points to a potential upside of 22.67% from the stock’s previous close.

A number of other research firms have also weighed in on SFBS. Zacks Research lowered shares of ServisFirst Bancshares from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 22nd. Piper Sandler reduced their price target on shares of ServisFirst Bancshares from $90.00 to $80.00 and set a “neutral” rating for the company in a research report on Tuesday, October 21st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ServisFirst Bancshares in a report on Monday, December 15th. Finally, Raymond James Financial upgraded ServisFirst Bancshares from a “market perform” rating to an “outperform” rating and set a $95.00 price objective on the stock in a research report on Tuesday, October 7th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $88.00.

ServisFirst Bancshares Stock Performance

Shares of SFBS opened at $72.55 on Friday. ServisFirst Bancshares has a 52-week low of $66.48 and a 52-week high of $93.90. The stock’s 50-day simple moving average is $72.20 and its 200 day simple moving average is $77.96. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market capitalization of $3.96 billion, a price-to-earnings ratio of 15.54 and a beta of 0.94.

ServisFirst Bancshares (NYSE:SFBS) last announced its quarterly earnings results on Tuesday, August 10th. The financial services provider reported $1.07 earnings per share for the quarter. ServisFirst Bancshares had a return on equity of 15.67% and a net margin of 25.24%.The firm had revenue of $104.27 million for the quarter. Research analysts forecast that ServisFirst Bancshares will post 5.17 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hantz Financial Services Inc. increased its stake in ServisFirst Bancshares by 214.1% in the third quarter. Hantz Financial Services Inc. now owns 311 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 212 shares during the last quarter. State of Wyoming purchased a new position in shares of ServisFirst Bancshares in the 2nd quarter worth about $29,000. Ameritas Advisory Services LLC bought a new position in shares of ServisFirst Bancshares during the 2nd quarter valued at about $30,000. Danske Bank A S bought a new position in shares of ServisFirst Bancshares during the 3rd quarter valued at about $32,000. Finally, Quarry LP raised its holdings in shares of ServisFirst Bancshares by 52.8% during the 1st quarter. Quarry LP now owns 544 shares of the financial services provider’s stock valued at $45,000 after buying an additional 188 shares in the last quarter. 67.31% of the stock is currently owned by hedge funds and other institutional investors.

About ServisFirst Bancshares

ServisFirst Bancshares, Inc is a bank holding company headquartered in Birmingham, Alabama, and the parent of ServisFirst Bank. The company specializes in commercial banking services, catering primarily to small and mid-sized businesses, professionals and entrepreneurs. Its product portfolio encompasses commercial real estate lending, commercial and industrial loans, deposit accounts, treasury management and other ancillary banking products designed to meet the financial needs of its clients.

ServisFirst Bank offers a full suite of deposit products, including interest-bearing checking, money market accounts and certificates of deposit, as well as a variety of loan products.