ProShare Advisors LLC Cuts Stock Position in ServisFirst Bancshares, Inc. (NYSE:SFBS)

ProShare Advisors LLC cut its position in shares of ServisFirst Bancshares, Inc. (NYSE:SFBS) by 23.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 7,808 shares of the financial services provider’s stock after selling 2,425 shares during the period. ProShare Advisors LLC’s holdings in ServisFirst Bancshares were worth $493,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Quest Partners LLC increased its position in shares of ServisFirst Bancshares by 4,880.0% during the 2nd quarter. Quest Partners LLC now owns 996 shares of the financial services provider’s stock valued at $63,000 after purchasing an additional 976 shares during the last quarter. Scarborough Advisors LLC bought a new position in shares of ServisFirst Bancshares during the 4th quarter valued at about $102,000. CIBC Asset Management Inc increased its position in shares of ServisFirst Bancshares by 8.7% during the 2nd quarter. CIBC Asset Management Inc now owns 3,328 shares of the financial services provider’s stock valued at $210,000 after purchasing an additional 267 shares during the last quarter. Bayesian Capital Management LP bought a new position in shares of ServisFirst Bancshares during the 1st quarter valued at about $217,000. Finally, Vanguard Personalized Indexing Management LLC increased its position in shares of ServisFirst Bancshares by 24.3% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 3,808 shares of the financial services provider’s stock valued at $241,000 after purchasing an additional 744 shares during the last quarter. 67.31% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other ServisFirst Bancshares news, COO Rodney Eldon Rushing sold 12,000 shares of the stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $80.58, for a total value of $966,960.00. Following the completion of the sale, the chief operating officer now owns 307,837 shares in the company, valued at approximately $24,805,505.46. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 7.40% of the company’s stock.

ServisFirst Bancshares Price Performance

SFBS opened at $80.53 on Tuesday. The stock’s 50 day simple moving average is $78.37 and its 200 day simple moving average is $68.38. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.94 and a quick ratio of 0.94. ServisFirst Bancshares, Inc. has a 1 year low of $45.21 and a 1 year high of $86.46. The firm has a market cap of $4.39 billion, a price-to-earnings ratio of 22.06 and a beta of 0.87.

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

ServisFirst Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 8th. Shareholders of record on Tuesday, October 1st will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.49%. The ex-dividend date is Tuesday, October 1st. ServisFirst Bancshares’s dividend payout ratio (DPR) is currently 32.88%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Hovde Group increased their price objective on ServisFirst Bancshares from $68.00 to $76.00 and gave the company a “market perform” rating in a research report on Tuesday, July 16th. Piper Sandler raised their price target on ServisFirst Bancshares from $63.00 to $70.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 16th.

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.