Envestnet Asset Management Inc. Has $11 Million Stock Holdings in ServisFirst Bancshares, Inc. $SFBS

Envestnet Asset Management Inc. lowered its holdings in ServisFirst Bancshares, Inc. (NYSE:SFBS) by 9.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 136,559 shares of the financial services provider’s stock after selling 13,473 shares during the quarter. Envestnet Asset Management Inc. owned 0.25% of ServisFirst Bancshares worth $10,997,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. State of Wyoming acquired a new stake in shares of ServisFirst Bancshares in the second quarter worth $29,000. GAMMA Investing LLC increased its holdings in shares of ServisFirst Bancshares by 20.3% during the 3rd quarter. GAMMA Investing LLC now owns 1,356 shares of the financial services provider’s stock worth $109,000 after purchasing an additional 229 shares during the period. Nisa Investment Advisors LLC increased its holdings in shares of ServisFirst Bancshares by 106.9% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,680 shares of the financial services provider’s stock worth $135,000 after purchasing an additional 868 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in shares of ServisFirst Bancshares by 6.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,094 shares of the financial services provider’s stock valued at $162,000 after buying an additional 125 shares during the last quarter. Finally, Caxton Associates LLP acquired a new stake in ServisFirst Bancshares during the first quarter worth about $204,000. 67.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SFBS. Weiss Ratings reiterated a “hold (c)” rating on shares of ServisFirst Bancshares in a research report on Monday, December 29th. Piper Sandler raised ServisFirst Bancshares from a “neutral” rating to an “overweight” rating and set a $89.00 target price for the company in a research report on Wednesday, January 21st. Raymond James Financial raised shares of ServisFirst Bancshares from an “outperform” rating to a “strong-buy” rating and set a $95.00 price target on the stock in a report on Wednesday, January 21st. Hovde Group upgraded shares of ServisFirst Bancshares from a “market perform” rating to an “outperform” rating and set a $89.00 price objective for the company in a research note on Friday, December 19th. Finally, Zacks Research upgraded shares of ServisFirst Bancshares from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 22nd. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $91.00.

ServisFirst Bancshares Trading Down 1.5%

Shares of SFBS stock opened at $85.32 on Thursday. The company has a market capitalization of $4.66 billion, a P/E ratio of 16.86 and a beta of 0.94. ServisFirst Bancshares, Inc. has a 12-month low of $66.48 and a 12-month high of $93.43. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.02. The firm has a 50-day moving average price of $78.75 and a 200 day moving average price of $78.25.

ServisFirst Bancshares (NYSE:SFBS) last posted its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.20. ServisFirst Bancshares had a net margin of 26.95% and a return on equity of 16.36%. The company had revenue of $162.21 million during the quarter, compared to analyst estimates of $151.82 million. Research analysts forecast that ServisFirst Bancshares, Inc. will post 5.17 earnings per share for the current fiscal year.

ServisFirst Bancshares Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 13th. Stockholders of record on Friday, January 2nd were issued a dividend of $0.38 per share. The ex-dividend date was Friday, January 2nd. This is a boost from ServisFirst Bancshares’s previous quarterly dividend of $0.34. This represents a $1.52 annualized dividend and a dividend yield of 1.8%. ServisFirst Bancshares’s dividend payout ratio (DPR) is currently 30.04%.

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.