ServisFirst Bancshares (NYSE:SFBS) Price Target Raised to $97.00 at Hovde Group

ServisFirst Bancshares (NYSE:SFBS) had its target price increased by equities research analysts at Hovde Group from $92.00 to $97.00 in a research note issued on Friday, MarketBeat.com reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Hovde Group’s price target indicates a potential upside of 12.92% from the company’s previous close.

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

ServisFirst Bancshares Price Performance

SFBS stock opened at $85.90 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.97 and a current ratio of 0.97. The business has a 50-day simple moving average of $80.05 and a two-hundred day simple moving average of $78.56. The company has a market capitalization of $4.69 billion, a P/E ratio of 16.98 and a beta of 0.94. ServisFirst Bancshares has a 52-week low of $66.48 and a 52-week high of $93.43.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SFBS. Northwestern Mutual Wealth Management Co. raised its stake in ServisFirst Bancshares by 6.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,094 shares of the financial services provider’s stock valued at $162,000 after acquiring an additional 125 shares during the period. Ameritas Investment Partners Inc. raised its position in shares of ServisFirst Bancshares by 2.7% in the second quarter. Ameritas Investment Partners Inc. now owns 5,271 shares of the financial services provider’s stock valued at $409,000 after purchasing an additional 138 shares during the period. CWM LLC lifted its stake in shares of ServisFirst Bancshares by 17.3% during the 4th quarter. CWM LLC now owns 955 shares of the financial services provider’s stock valued at $69,000 after buying an additional 141 shares in the last quarter. Bank of Montreal Can lifted its stake in shares of ServisFirst Bancshares by 0.5% during the 2nd quarter. Bank of Montreal Can now owns 28,507 shares of the financial services provider’s stock valued at $2,210,000 after buying an additional 142 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in ServisFirst Bancshares by 0.4% in the 3rd quarter. PNC Financial Services Group Inc. now owns 34,186 shares of the financial services provider’s stock worth $2,753,000 after buying an additional 143 shares during the period. Institutional investors own 67.31% of the company’s stock.

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.