ServisFirst Bancshares (NYSE:SFBS) Share Price Passes Above 200-Day Moving Average – Here’s Why

ServisFirst Bancshares, Inc. (NYSE:SFBS)’s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $40.76 and traded as high as $43.38. ServisFirst Bancshares shares last traded at $43.18, with a volume of 380,517 shares.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Wall Street Zen lowered ServisFirst Bancshares from a “buy” rating to a “hold” rating in a research report on Sunday, August 30th. Weiss Ratings reiterated a “buy (b-)” rating on shares of ServisFirst Bancshares in a research note on Thursday, August 27th. Finally, Piper Sandler increased their price target on shares of ServisFirst Bancshares from $45.50 to $47.00 and gave the stock an “overweight” rating in a report on Tuesday, July 21st. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, ServisFirst Bancshares presently has a consensus rating of “Buy” and an average price target of $47.67.

ServisFirst Bancshares Stock Performance

The company has a debt-to-equity ratio of 0.02, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a fifty day simple moving average of $43.77 and a 200 day simple moving average of $40.76. The company has a market capitalization of $4.67 billion, a price-to-earnings ratio of 14.56 and a beta of 0.85.

ServisFirst Bancshares (NYSE:SFBS) last posted its quarterly earnings data on Monday, July 20th. The financial services provider reported $0.78 EPS for the quarter, meeting analysts’ consensus estimates of $0.78. The business had revenue of $168.53 million during the quarter, compared to analysts’ expectations of $167.85 million. ServisFirst Bancshares had a return on equity of 17.42% and a net margin of 30.95%. On average, analysts anticipate that ServisFirst Bancshares, Inc. will post 3.23 earnings per share for the current fiscal year.

ServisFirst Bancshares Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Wednesday, July 1st were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Wednesday, July 1st. ServisFirst Bancshares’s payout ratio is presently 25.94%.

Hedge Funds Weigh In On ServisFirst Bancshares

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in shares of ServisFirst Bancshares in the second quarter valued at about $670,908,000. California State Teachers Retirement System raised its position in shares of ServisFirst Bancshares by 8,886.1% during the 2nd quarter. California State Teachers Retirement System now owns 5,162,579 shares of the financial services provider’s stock worth $447,854,000 after purchasing an additional 5,105,128 shares during the last quarter. NewEdge Advisors LLC lifted its stake in ServisFirst Bancshares by 307,426.8% in the 4th quarter. NewEdge Advisors LLC now owns 919,505 shares of the financial services provider’s stock valued at $66,011,000 after buying an additional 919,206 shares in the last quarter. Davis Asset Management L.P. purchased a new position in ServisFirst Bancshares in the 2nd quarter valued at about $78,975,000. Finally, Copeland Capital Management LLC acquired a new stake in ServisFirst Bancshares in the 1st quarter worth about $54,879,000. 67.31% of the stock is owned by hedge funds and other institutional investors.

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.