ServisFirst Bancshares (NYSE:SFBS) Stock Price Expected to Rise, Hovde Group Analyst Says

ServisFirst Bancshares (NYSE:SFBS) had its price target upped by Hovde Group from $92.00 to $97.00 in a research report issued on Friday, Marketbeat reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Hovde Group’s price objective suggests a potential upside of 20.02% from the company’s previous close.

A number of other brokerages have also commented on SFBS. Weiss Ratings restated a “hold (c)” rating on shares of ServisFirst Bancshares in a report on Monday, December 29th. Piper Sandler upgraded ServisFirst Bancshares from a “neutral” rating to an “overweight” rating and set a $89.00 target price on the stock in a research note on Wednesday, January 21st. Zacks Research raised shares of ServisFirst Bancshares from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 22nd. Finally, Raymond James Financial upgraded shares of ServisFirst Bancshares from an “outperform” rating to a “strong-buy” rating and set a $95.00 price objective on the stock in a report on Wednesday, January 21st. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $93.67.

ServisFirst Bancshares Stock Down 5.8%

ServisFirst Bancshares stock opened at $80.82 on Friday. The company has a 50 day moving average of $80.22 and a 200-day moving average of $78.55. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.02. ServisFirst Bancshares has a twelve month low of $66.48 and a twelve month high of $93.43. The stock has a market capitalization of $4.41 billion, a PE ratio of 15.97 and a beta of 0.94.

ServisFirst Bancshares (NYSE:SFBS) last posted its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $1.58 EPS for the quarter, beating the consensus estimate of $1.38 by $0.20. The business had revenue of $162.21 million for the quarter, compared to analysts’ expectations of $151.82 million. ServisFirst Bancshares had a net margin of 26.95% and a return on equity of 16.36%. On average, equities research analysts anticipate that ServisFirst Bancshares will post 5.17 EPS for the current fiscal year.

Hedge Funds Weigh In On ServisFirst Bancshares

A number of institutional investors have recently added to or reduced their stakes in the company. NewEdge Advisors LLC lifted its stake in ServisFirst Bancshares by 307,426.8% in the fourth quarter. NewEdge Advisors LLC now owns 919,505 shares of the financial services provider’s stock valued at $66,011,000 after acquiring an additional 919,206 shares during the last quarter. Norges Bank bought a new stake in shares of ServisFirst Bancshares in the 4th quarter valued at about $47,908,000. Champlain Investment Partners LLC lifted its stake in ServisFirst Bancshares by 15.7% in the 2nd quarter. Champlain Investment Partners LLC now owns 2,566,528 shares of the financial services provider’s stock valued at $198,932,000 after purchasing an additional 349,177 shares during the last quarter. First Trust Advisors LP lifted its stake in ServisFirst Bancshares by 231.6% in the 2nd quarter. First Trust Advisors LP now owns 326,702 shares of the financial services provider’s stock valued at $25,323,000 after purchasing an additional 228,187 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in ServisFirst Bancshares by 26.2% during the third quarter. JPMorgan Chase & Co. now owns 962,164 shares of the financial services provider’s stock worth $77,483,000 after purchasing an additional 199,772 shares during the period. 67.31% of the stock is currently owned by institutional investors and hedge funds.

ServisFirst Bancshares Company Profile

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.