ServisFirst Bancshares (NYSE:SFBS) Reaches New 1-Year High – Here’s Why

ServisFirst Bancshares, Inc. (NYSE:SFBS) shares reached a new 52-week high during trading on Monday . The stock traded as high as $90.86 and last traded at $89.79, with a volume of 27849 shares traded. The stock had previously closed at $89.50.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Piper Sandler upped their price objective on ServisFirst Bancshares from $91.00 to $94.00 and gave the company an “overweight” rating in a research report on Tuesday, July 21st. Weiss Ratings upgraded ServisFirst Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $95.33.

ServisFirst Bancshares Price Performance

The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.98 and a current ratio of 0.98. The company has a market capitalization of $4.89 billion, a P/E ratio of 15.27 and a beta of 0.86. The firm’s fifty day moving average is $83.64 and its 200 day moving average is $80.58.

ServisFirst Bancshares’s stock is scheduled to split on the morning of Friday, August 21st. The 2-1 split was announced on Monday, July 20th. The newly minted shares will be issued to shareholders after the closing bell on Thursday, August 20th.

ServisFirst Bancshares (NYSE:SFBS) last announced its quarterly earnings data on Monday, July 20th. The financial services provider reported $1.57 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.57. ServisFirst Bancshares had a net margin of 30.95% and a return on equity of 17.42%. The business had revenue of $168.53 million during the quarter, compared to the consensus estimate of $167.85 million. As a group, analysts predict that ServisFirst Bancshares, Inc. will post 6.46 earnings per share for the current fiscal year.

ServisFirst Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Wednesday, July 1st were issued a dividend of $0.38 per share. The ex-dividend date was Wednesday, July 1st. This represents a $1.52 dividend on an annualized basis and a yield of 1.7%. ServisFirst Bancshares’s payout ratio is presently 25.89%.

Institutional Trading of ServisFirst Bancshares

A number of large investors have recently made changes to their positions in SFBS. Northwestern Mutual Wealth Management Co. grew its holdings in shares of ServisFirst Bancshares by 6.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,094 shares of the financial services provider’s stock worth $162,000 after purchasing an additional 125 shares during the last quarter. CWM LLC lifted its holdings in 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. Mackenzie Financial Corp lifted its holdings in ServisFirst Bancshares by 4.9% during the 4th quarter. Mackenzie Financial Corp now owns 3,234 shares of the financial services provider’s stock valued at $234,000 after buying an additional 152 shares in the last quarter. Maryland State Retirement & Pension System boosted its position in ServisFirst Bancshares by 2.4% in the 4th quarter. Maryland State Retirement & Pension System now owns 7,394 shares of the financial services provider’s stock valued at $531,000 after buying an additional 170 shares during the period. Finally, Lido Advisors LLC boosted its position in ServisFirst Bancshares by 3.9% in the 4th quarter. Lido Advisors LLC now owns 4,769 shares of the financial services provider’s stock valued at $374,000 after buying an additional 179 shares during the period. 67.31% of the stock is owned by hedge funds and other institutional investors.

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.