Ameriprise Financial Inc. purchased a new stake in shares of ServisFirst Bancshares Inc. (NASDAQ:SFBS) during the second quarter, Holdings Channel reports. The firm purchased 103,700 shares of the financial services provider’s stock, valued at approximately $5,122,000. Ameriprise Financial Inc. owned approximately 0.40% of ServisFirst Bancshares at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of SFBS. Bank of New York Mellon Corp raised its position in shares of ServisFirst Bancshares by 154.7% in the second quarter. Bank of New York Mellon Corp now owns 242,965 shares of the financial services provider’s stock valued at $11,999,000 after buying an additional 147,586 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of ServisFirst Bancshares by 958.0% in the first quarter. Goldman Sachs Group Inc. now owns 158,996 shares of the financial services provider’s stock valued at $7,059,000 after buying an additional 143,968 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its position in shares of ServisFirst Bancshares by 9.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 357,120 shares of the financial services provider’s stock valued at $15,856,000 after buying an additional 30,075 shares in the last quarter. First Trust Advisors LP raised its position in shares of ServisFirst Bancshares by 93.4% in the second quarter. First Trust Advisors LP now owns 48,407 shares of the financial services provider’s stock valued at $2,391,000 after buying an additional 23,372 shares in the last quarter. Finally, New York State Teachers Retirement System purchased a new position in shares of ServisFirst Bancshares during the second quarter valued at about $630,000. Hedge funds and other institutional investors own 34.03% of the company’s stock.
ServisFirst Bancshares Inc. (NASDAQ:SFBS) traded up 1.36% during midday trading on Friday, hitting $52.96. The stock had a trading volume of 73,108 shares. The company’s 50 day moving average is $51.98 and its 200 day moving average is $50.13. ServisFirst Bancshares Inc. has a 1-year low of $34.12 and a 1-year high of $53.58. The company has a market cap of $1.39 billion, a price-to-earnings ratio of 18.85 and a beta of 1.19.
ServisFirst Bancshares (NASDAQ:SFBS) last issued its earnings results on Monday, July 18th. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.04. ServisFirst Bancshares had a net margin of 34.23% and a return on equity of 15.77%. On average, equities analysts anticipate that ServisFirst Bancshares Inc. will post $2.79 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, October 14th. Investors of record on Tuesday, October 4th were paid a $0.08 dividend. The ex-dividend date was Friday, September 30th. This represents a $0.32 annualized dividend and a yield of 0.60%. ServisFirst Bancshares’s dividend payout ratio (DPR) is currently 11.76%.
SFBS has been the topic of several analyst reports. Raymond James Financial Inc. upgraded ServisFirst Bancshares from an “outperform” rating to a “strong-buy” rating and set a $43.00 price objective on the stock in a research note on Thursday, August 25th. Zacks Investment Research lowered ServisFirst Bancshares from a “buy” rating to a “hold” rating in a research note on Wednesday, June 22nd.
In related news, EVP Rex D. Mckinney sold 48,000 shares of the firm’s stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $50.32, for a total value of $2,415,360.00. Following the completion of the sale, the executive vice president now directly owns 28,000 shares in the company, valued at approximately $1,408,960. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Andrew N. Kattos sold 11,741 shares of the firm’s stock in a transaction dated Friday, September 23rd. The shares were sold at an average price of $52.39, for a total transaction of $615,110.99. Following the completion of the sale, the executive vice president now owns 128,259 shares of the company’s stock, valued at $6,719,489.01. The disclosure for this sale can be found here. 14.28% of the stock is currently owned by corporate insiders.
About ServisFirst Bancshares
ServisFirst Bancshares, Inc is a bank holding company. The Company, through its subsidiary, ServisFirst Bank (the Bank), operates approximately 18 banking offices. Through its bank, the Company originates commercial, consumer and other loans and accepts deposits, provides electronic banking services, such as online and mobile banking, including remote deposit capture, delivers treasury and cash management services, and provides correspondent banking services to other financial institutions.
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