ServisFirst Bancshares (NASDAQ:SFBS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The brokerage currently has a $50.00 price target on the financial services provider’s stock. Zacks Investment Research‘s price target suggests a potential upside of 13.35% from the stock’s previous close.
According to Zacks, “ServisFirst Bancshares Inc. is a bank holding company. Through its subsidiary, ServisFirst Bank, it provides business and personal financial services. It offers various deposit products; commercial lending products; commercial real estate loans, construction and development loans, and residential real estate loans; and consumer loans. ServisFirst Bancshares, Inc. is headquartered in Birmingham, Alabama. “
Several other research firms have also commented on SFBS. BidaskClub upgraded ServisFirst Bancshares from a “hold” rating to a “buy” rating in a research note on Thursday, March 8th. Hovde Group set a $44.00 price target on ServisFirst Bancshares and gave the stock a “hold” rating in a research note on Tuesday, January 23rd.
ServisFirst Bancshares (NASDAQ:SFBS) last posted its quarterly earnings data on Monday, January 22nd. The financial services provider reported $0.45 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.03). The company had revenue of $66.31 million during the quarter, compared to analysts’ expectations of $65.86 million. ServisFirst Bancshares had a return on equity of 16.69% and a net margin of 33.03%. research analysts anticipate that ServisFirst Bancshares will post 2.49 earnings per share for the current fiscal year.
In other ServisFirst Bancshares news, EVP G. Carlton Barker sold 10,000 shares of the stock in a transaction on Wednesday, March 7th. The stock was sold at an average price of $43.25, for a total value of $432,500.00. Following the completion of the sale, the executive vice president now owns 116,462 shares in the company, valued at approximately $5,036,981.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Michael D. Fuller sold 20,000 shares of the stock in a transaction on Monday, February 5th. The stock was sold at an average price of $42.23, for a total value of $844,600.00. The disclosure for this sale can be found here. Corporate insiders own 14.04% of the company’s stock.
A number of hedge funds have recently modified their holdings of the business. Victory Capital Management Inc. increased its stake in ServisFirst Bancshares by 30.0% in the 3rd quarter. Victory Capital Management Inc. now owns 5,496 shares of the financial services provider’s stock worth $214,000 after buying an additional 1,267 shares in the last quarter. Macquarie Group Ltd. increased its stake in ServisFirst Bancshares by 3.9% in the 3rd quarter. Macquarie Group Ltd. now owns 40,503 shares of the financial services provider’s stock worth $1,574,000 after buying an additional 1,505 shares in the last quarter. Principal Financial Group Inc. increased its stake in ServisFirst Bancshares by 0.6% in the 3rd quarter. Principal Financial Group Inc. now owns 374,117 shares of the financial services provider’s stock worth $14,535,000 after buying an additional 2,051 shares in the last quarter. American International Group Inc. increased its stake in ServisFirst Bancshares by 6.0% in the 3rd quarter. American International Group Inc. now owns 36,488 shares of the financial services provider’s stock worth $1,418,000 after buying an additional 2,080 shares in the last quarter. Finally, Swiss National Bank increased its stake in ServisFirst Bancshares by 3.1% in the 4th quarter. Swiss National Bank now owns 75,768 shares of the financial services provider’s stock worth $3,144,000 after buying an additional 2,300 shares in the last quarter. Institutional investors and hedge funds own 44.44% of the company’s stock.
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About ServisFirst Bancshares
ServisFirst Bancshares, Inc is a bank holding company whose business is conducted by its subsidiary, ServisFirst Bank (the Bank). The Company’s principal business is to accept deposits from the public and to make loans and other investments. The Company, through its bank, originates commercial, consumer and other loans; accept deposits; provides electronic banking services, such as online and mobile banking, including remote deposit capture, deliver treasury and cash management services, and provides correspondent banking services to other financial institutions.
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