Victory Capital Management Inc. lifted its position in ServisFirst Bancshares, Inc. (NYSE:SFBS - Free Report) by 2,704.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 415,510 shares of the financial services provider's stock after buying an additional 400,694 shares during the period. Victory Capital Management Inc. owned about 0.76% of ServisFirst Bancshares worth $33,428,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the company. Quest Partners LLC lifted its position in ServisFirst Bancshares by 4,880.0% in the 2nd quarter. Quest Partners LLC now owns 996 shares of the financial services provider's stock valued at $63,000 after acquiring an additional 976 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of ServisFirst Bancshares by 138.6% during the third quarter. GAMMA Investing LLC now owns 921 shares of the financial services provider's stock valued at $74,000 after purchasing an additional 535 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of ServisFirst Bancshares during the second quarter valued at $84,000. CIBC Asset Management Inc increased its holdings in ServisFirst Bancshares by 8.7% in the 2nd quarter. CIBC Asset Management Inc now owns 3,328 shares of the financial services provider's stock worth $210,000 after buying an additional 267 shares in the last quarter. Finally, Bayesian Capital Management LP purchased a new position in ServisFirst Bancshares in the 1st quarter worth about $217,000. Hedge funds and other institutional investors own 67.31% of the company's stock.
A number of brokerages have recently issued reports on SFBS. Piper Sandler raised their price target on shares of ServisFirst Bancshares from $76.00 to $79.00 and gave the company a "neutral" rating in a report on Tuesday, October 22nd. StockNews.com raised shares of ServisFirst Bancshares from a "sell" rating to a "hold" rating in a research report on Tuesday, November 12th. Finally, Hovde Group increased their price target on ServisFirst Bancshares from $80.00 to $91.00 and gave the company a "market perform" rating in a report on Tuesday, October 22nd.
Check Out Our Latest Stock Report on SFBS
In other news, SVP Henry Fulbrook Abbott sold 1,000 shares of the stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $85.20, for a total value of $85,200.00. Following the completion of the sale, the senior vice president now directly owns 8,501 shares of the company's stock, valued at $724,285.20. This represents a 10.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Rodney Eldon Rushing sold 12,000 shares of ServisFirst Bancshares stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $80.58, for a total transaction of $966,960.00. Following the transaction, the chief operating officer now owns 307,837 shares in the company, valued at approximately $24,805,505.46. This trade represents a 3.75 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 7.40% of the company's stock.
Shares of NYSE:SFBS opened at $94.58 on Friday. The firm's 50 day moving average price is $83.91 and its 200-day moving average price is $74.06. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $5.16 billion, a PE ratio of 25.29 and a beta of 0.86. ServisFirst Bancshares, Inc. has a twelve month low of $49.72 and a twelve month high of $100.14.
ServisFirst Bancshares (NYSE:SFBS - Get Free Report) last released its quarterly earnings results on Monday, October 21st. The financial services provider reported $1.10 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.13. ServisFirst Bancshares had a net margin of 21.16% and a return on equity of 14.23%. The business had revenue of $256.53 million for the quarter, compared to the consensus estimate of $120.70 million. During the same period last year, the firm earned $0.98 earnings per share. Equities research analysts expect that ServisFirst Bancshares, Inc. will post 4.09 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Tuesday, October 1st were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend was Tuesday, October 1st. ServisFirst Bancshares's payout ratio is 32.09%.
ServisFirst Bancshares, Inc operates as the bank holding company for ServisFirst Bank that provides various banking services to individual and corporate customers. It accepts demand, time, savings, and other deposits; checking, money market, and IRA accounts; and certificates of deposit. The company's loan products include commercial lending products, including seasonal, bridge, and term loans for working capital, expansion of the business, acquisition of property, and 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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