ServisFirst Bancshares (NYSE:SFBS) Stock Rating Upgraded by Zacks Research

ServisFirst Bancshares (NYSE:SFBS) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Thursday,Zacks.com reports.

SFBS has been the subject of several other reports. Hovde Group raised ServisFirst Bancshares from a “market perform” rating to an “outperform” rating and set a $89.00 price objective for the company in a research note on Friday, December 19th. Piper Sandler upgraded ServisFirst Bancshares from a “neutral” rating to an “overweight” rating and set a $89.00 target price on the stock in a report on Wednesday. Weiss Ratings restated a “hold (c)” rating on shares of ServisFirst Bancshares in a report on Monday, December 29th. Finally, Raymond James Financial raised shares of ServisFirst Bancshares from an “outperform” rating to a “strong-buy” rating and set a $95.00 price objective on the stock in a research report on Wednesday. Two equities research 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 stock. According to data from MarketBeat, ServisFirst Bancshares presently has a consensus rating of “Buy” and an average price target of $91.00.

ServisFirst Bancshares Trading Down 5.4%

NYSE SFBS opened at $81.98 on Thursday. ServisFirst Bancshares has a twelve month low of $66.48 and a twelve month high of $93.90. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.96 and a current ratio of 0.97. The stock has a market cap of $4.48 billion, a price-to-earnings ratio of 16.20 and a beta of 0.93. The firm’s 50 day moving average price is $73.95 and its two-hundred day moving average price is $77.88.

ServisFirst Bancshares (NYSE:SFBS) last released its earnings results on Tuesday, January 20th. The financial services provider reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.20. The company had revenue of $162.21 million during 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%. Equities analysts anticipate that ServisFirst Bancshares will post 5.17 EPS for the current year.

Hedge Funds Weigh In On ServisFirst Bancshares

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada increased its stake in shares of ServisFirst Bancshares by 17.2% during the 1st quarter. Royal Bank of Canada now owns 16,815 shares of the financial services provider’s stock worth $1,390,000 after purchasing an additional 2,465 shares during the last quarter. AQR Capital Management LLC boosted its holdings in ServisFirst Bancshares by 70.9% in the first quarter. AQR Capital Management LLC now owns 8,989 shares of the financial services provider’s stock worth $742,000 after purchasing an additional 3,730 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in ServisFirst Bancshares by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,194 shares of the financial services provider’s stock worth $2,494,000 after buying an additional 1,308 shares during the last quarter. Millennium Management LLC raised its holdings in ServisFirst Bancshares by 107.3% during the first quarter. Millennium Management LLC now owns 146,442 shares of the financial services provider’s stock valued at $12,096,000 after buying an additional 75,799 shares in the last quarter. Finally, Caxton Associates LLP acquired a new stake in shares of ServisFirst Bancshares in the first quarter worth about $204,000. Institutional investors own 67.31% of the company’s stock.

About ServisFirst Bancshares

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.