ServisFirst Bancshares (NYSE:SFBS) Hits New 52-Week High at $86.00

ServisFirst Bancshares, Inc. (NYSE:SFBS)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $86.00 and last traded at $84.82, with a volume of 188435 shares traded. The stock had previously closed at $81.51.

Analysts Set New Price Targets

Several brokerages have weighed in on SFBS. Piper Sandler boosted their price objective on ServisFirst Bancshares from $63.00 to $70.00 and gave the company a “neutral” rating in a research report on Tuesday, July 16th. Hovde Group upped their price target on shares of ServisFirst Bancshares from $68.00 to $76.00 and gave the company a “market perform” rating in a report on Tuesday, July 16th.

ServisFirst Bancshares Stock Up 1.8 %

The company has a market capitalization of $4.52 billion, a P/E ratio of 22.41 and a beta of 0.87. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.94 and a quick ratio of 0.94. The company has a 50 day moving average of $76.95 and a 200-day moving average of $67.39.

ServisFirst Bancshares (NYSE:SFBS) last issued its quarterly earnings data on Monday, July 15th. The financial services provider reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.04. The firm had revenue of $114.77 million for the quarter, compared to analyst estimates of $114.80 million. ServisFirst Bancshares had a return on equity of 14.19% and a net margin of 21.25%. As a group, equities analysts anticipate that ServisFirst Bancshares, Inc. will post 3.82 EPS for the current year.

ServisFirst Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 8th. Shareholders of record on Tuesday, October 1st will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend is Tuesday, October 1st. ServisFirst Bancshares’s payout ratio is currently 32.88%.

Institutional Investors Weigh In On ServisFirst Bancshares

Several institutional investors and hedge funds have recently modified their holdings of the stock. Quest Partners LLC raised its stake in ServisFirst Bancshares by 4,880.0% in the second quarter. Quest Partners LLC now owns 996 shares of the financial services provider’s stock worth $63,000 after buying an additional 976 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of ServisFirst Bancshares in the 2nd quarter valued at approximately $84,000. Scarborough Advisors LLC bought a new stake in shares of ServisFirst Bancshares during the fourth quarter valued at approximately $102,000. Quadrant Capital Group LLC boosted its position in shares of ServisFirst Bancshares by 54.1% during the fourth quarter. Quadrant Capital Group LLC now owns 2,365 shares of the financial services provider’s stock valued at $158,000 after purchasing an additional 830 shares in the last quarter. Finally, Coldstream Capital Management Inc. bought a new position in ServisFirst Bancshares in the fourth quarter worth $210,000. 67.31% of the stock is owned by hedge funds and other institutional investors.

ServisFirst Bancshares Company Profile

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.