ServisFirst Bancshares, Inc. (NASDAQ:SFBS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.
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. “
A number of other research firms have also recently weighed in on SFBS. BidaskClub cut ServisFirst Bancshares from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 28th. Stephens restated a “hold” rating and issued a $38.00 price target on shares of ServisFirst Bancshares in a report on Wednesday. Finally, Hovde Group upgraded ServisFirst Bancshares from an “underperform” rating to a “market perform” rating and set a $37.00 price target for the company in a report on Tuesday, April 18th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $49.75.
Shares of ServisFirst Bancshares (NASDAQ:SFBS) opened at 36.67 on Thursday. The firm has a market cap of $1.94 billion, a PE ratio of 22.22 and a beta of 1.41. The company has a 50-day moving average of $36.58 and a 200 day moving average of $37.71. ServisFirst Bancshares has a one year low of $24.51 and a one year high of $42.66.
ServisFirst Bancshares (NASDAQ:SFBS) last released its quarterly earnings results on Monday, July 17th. The financial services provider reported $0.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.01. The firm had revenue of $60.37 million during the quarter, compared to analysts’ expectations of $60.33 million. ServisFirst Bancshares had a return on equity of 16.67% and a net margin of 35.15%. On average, equities research analysts expect that ServisFirst Bancshares will post $1.80 EPS for the current fiscal year.
In other ServisFirst Bancshares news, EVP W Bibb Lamar, Jr. sold 28,000 shares of the company’s stock in a transaction that occurred on Thursday, May 4th. The stock was sold at an average price of $38.78, for a total value of $1,085,840.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last ninety days, insiders acquired 619 shares of company stock worth $22,411. 14.04% of the stock is currently owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the stock. Leavell Investment Management Inc. raised its position in shares of ServisFirst Bancshares by 2.0% in the second quarter. Leavell Investment Management Inc. now owns 62,974 shares of the financial services provider’s stock worth $2,323,000 after buying an additional 1,206 shares during the last quarter. State of Alaska Department of Revenue raised its position in shares of ServisFirst Bancshares by 79.2% in the second quarter. State of Alaska Department of Revenue now owns 8,761 shares of the financial services provider’s stock worth $323,000 after buying an additional 3,871 shares during the last quarter. Fisher Asset Management LLC raised its position in shares of ServisFirst Bancshares by 32.0% in the second quarter. Fisher Asset Management LLC now owns 136,074 shares of the financial services provider’s stock worth $5,020,000 after buying an additional 32,957 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of ServisFirst Bancshares by 8.5% in the first quarter. Goldman Sachs Group Inc. now owns 81,966 shares of the financial services provider’s stock worth $2,982,000 after buying an additional 6,389 shares during the last quarter. Finally, Grandeur Peak Global Advisors LLC raised its position in shares of ServisFirst Bancshares by 4.5% in the first quarter. Grandeur Peak Global Advisors LLC now owns 25,500 shares of the financial services provider’s stock worth $928,000 after buying an additional 1,100 shares during the last quarter. 43.37% of the stock is currently owned by institutional investors.
ServisFirst Bancshares Company Profile
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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