ServisFirst Bancshares (NYSE:SFBS) Given New $94.00 Price Target at Piper Sandler

ServisFirst Bancshares (NYSE:SFBS) had its price objective lifted by Piper Sandler from $91.00 to $94.00 in a research report report published on Tuesday,Benzinga reports. Piper Sandler currently has an overweight rating on the financial services provider’s stock.

A number of other research firms also recently weighed in on SFBS. Zacks Research downgraded shares of ServisFirst Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 23rd. Weiss Ratings upgraded shares of ServisFirst Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $95.33.

ServisFirst Bancshares Trading Up 2.4%

NYSE SFBS opened at $87.61 on Tuesday. The business’s 50-day moving average price is $81.70 and its two-hundred day moving average price is $79.76. ServisFirst Bancshares has a 12 month low of $67.20 and a 12 month high of $90.64. The firm has a market capitalization of $4.79 billion, a PE ratio of 14.93 and a beta of 0.86. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.02.

ServisFirst Bancshares shares are scheduled to split on the morning of Friday, August 21st. The 2-1 split was announced on Monday, July 20th. The newly created shares will be payable to shareholders after the market closes on Thursday, August 20th.

ServisFirst Bancshares (NYSE:SFBS) last issued its quarterly earnings data on Monday, July 20th. The financial services provider reported $1.57 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.57. The company had revenue of $168.53 million during the quarter, compared to the consensus estimate of $167.85 million. ServisFirst Bancshares had a return on equity of 17.73% and a net margin of 30.95%. On average, analysts expect that ServisFirst Bancshares will post 6.4 EPS for the current year.

ServisFirst Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Wednesday, July 1st were paid a $0.38 dividend. The ex-dividend date was Wednesday, July 1st. This represents a $1.52 annualized dividend and a yield of 1.7%. ServisFirst Bancshares’s dividend payout ratio (DPR) is 25.89%.

Hedge Funds Weigh In On ServisFirst Bancshares

A number of hedge funds and other institutional investors have recently modified their holdings of SFBS. Wedge Capital Management L L P NC increased its position in shares of ServisFirst Bancshares by 33.2% during the second quarter. Wedge Capital Management L L P NC now owns 49,957 shares of the financial services provider’s stock valued at $4,334,000 after acquiring an additional 12,441 shares during the last quarter. GAMMA Investing LLC increased its position in shares of ServisFirst Bancshares by 23.9% during the 2nd quarter. GAMMA Investing LLC now owns 1,478 shares of the financial services provider’s stock valued at $128,000 after purchasing an additional 285 shares during the last quarter. Arete Wealth Advisors LLC purchased a new stake in shares of ServisFirst Bancshares during the 1st quarter valued at $33,348,000. Bank of America Corp DE raised its stake in shares of ServisFirst Bancshares by 47.7% during the 1st quarter. Bank of America Corp DE now owns 135,140 shares of the financial services provider’s stock worth $9,842,000 after purchasing an additional 43,638 shares during the period. Finally, Janus Henderson Group PLC raised its position in ServisFirst Bancshares by 685.5% in the first quarter. Janus Henderson Group PLC now owns 190,651 shares of the financial services provider’s stock worth $13,886,000 after acquiring an additional 166,379 shares during the period. Hedge funds and other institutional investors own 67.31% of the company’s stock.

Key Stories Impacting ServisFirst Bancshares

Here are the key news stories impacting ServisFirst Bancshares this week:

• Positive Sentiment: ServisFirst reported Q2 earnings of $1.57 per share, matching Wall Street expectations, while revenue of $168.53 million came in slightly above estimates. The results suggest steady operating performance and support the recent stock strength.
• Positive Sentiment: The company said net interest margin should expand 4% to 6% sequentially, helped by more than $2 billion in repricing opportunities, which could boost future profitability.
• Positive Sentiment: Piper Sandler raised its price target on SFBS from $91 to $94 and kept an overweight rating, signaling continued confidence in the bank’s outlook.
• Positive Sentiment: ServisFirst also announced a two-for-one stock split, which can improve trading accessibility and often adds positive sentiment around the shares. Article: ServisFirst Bancshares, Inc. Announces Two-for-One Stock Split
• Neutral Sentiment: Investors are also focused on the upcoming split timeline, with new shares payable on August 20 and the split effective before the market opens on August 21.

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.