Separately, Zacks Investment Research cut shares of ServisFirst Bancshares from a hold rating to a sell rating in a research note on Tuesday.
NASDAQ SFBS traded up $0.20 on Thursday, reaching $34.17. The company’s stock had a trading volume of 10,173 shares, compared to its average volume of 94,123. The firm has a market cap of $1.76 billion, a PE ratio of 13.54 and a beta of 1.32. The business has a 50-day moving average price of $31.25 and a 200 day moving average price of $33.02. ServisFirst Bancshares has a 52 week low of $29.17 and a 52 week high of $41.82. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.08.
ServisFirst Bancshares (NASDAQ:SFBS) last posted its earnings results on Monday, July 15th. The financial services provider reported $0.66 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.69 by ($0.03). The business had revenue of $75.86 million during the quarter, compared to the consensus estimate of $77.30 million. ServisFirst Bancshares had a net margin of 36.49% and a return on equity of 19.37%. Analysts anticipate that ServisFirst Bancshares will post 2.62 earnings per share for the current fiscal year.
In other news, Director James J. Filler acquired 2,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were purchased at an average cost of $29.44 per share, with a total value of $58,880.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Andrew N. Kattos acquired 834 shares of the firm’s stock in a transaction on Thursday, August 22nd. The shares were purchased at an average cost of $30.75 per share, for a total transaction of $25,645.50. Following the completion of the purchase, the executive vice president now directly owns 121,834 shares of the company’s stock, valued at approximately $3,746,395.50. The disclosure for this purchase can be found here. In the last three months, insiders purchased 4,334 shares of company stock worth $129,001. 13.56% of the stock is currently owned by insiders.
A number of institutional investors have recently modified their holdings of SFBS. Davis Capital Partners LLC grew its stake in ServisFirst Bancshares by 25.4% during the first quarter. Davis Capital Partners LLC now owns 1,128,818 shares of the financial services provider’s stock worth $38,108,000 after buying an additional 228,818 shares during the last quarter. Nuveen Asset Management LLC bought a new stake in ServisFirst Bancshares during the second quarter worth about $7,409,000. Arlington Partners LLC grew its stake in ServisFirst Bancshares by 1,153.7% during the second quarter. Arlington Partners LLC now owns 92,435 shares of the financial services provider’s stock worth $3,167,000 after buying an additional 85,062 shares during the last quarter. HighTower Advisors LLC grew its stake in ServisFirst Bancshares by 188.4% during the second quarter. HighTower Advisors LLC now owns 123,836 shares of the financial services provider’s stock worth $4,242,000 after buying an additional 80,900 shares during the last quarter. Finally, Fidelity National Financial Inc. bought a new stake in ServisFirst Bancshares during the second quarter worth about $2,619,000. 47.26% of the stock is currently owned by hedge funds and other institutional investors.
About ServisFirst Bancshares
ServisFirst Bancshares, Inc operates as the bank holding company for ServisFirst Bank that provides banking services to individual and corporate customers in the United States. It offers demand, time, savings, and other deposits; checking, money market, and IRA accounts; and certificates of deposit. The company also provides commercial lending products, such as seasonal loans, bridge loans, and term loans for working capital, expansion of the business, or acquisition of property, plant, and equipment, as well as commercial lines of credit; commercial real estate loans, construction and development loans, and residential real estate loans; and consumer loans, such as home equity loans, vehicle financing, loans secured by deposits, and secured and unsecured personal loans.
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