Inspire Investing LLC Trims Stock Position in ServisFirst Bancshares, Inc. (NYSE:SFBS)

Inspire Investing LLC cut its holdings in ServisFirst Bancshares, Inc. (NYSE:SFBS) by 7.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,157 shares of the financial services provider’s stock after selling 396 shares during the quarter. Inspire Investing LLC’s holdings in ServisFirst Bancshares were worth $415,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Mechanics Bank Trust Department acquired a new stake in ServisFirst Bancshares during the 3rd quarter valued at $225,000. Diversified Trust Co lifted its position in shares of ServisFirst Bancshares by 6.8% in the third quarter. Diversified Trust Co now owns 13,414 shares of the financial services provider’s stock valued at $1,079,000 after acquiring an additional 850 shares in the last quarter. GAMMA Investing LLC boosted its stake 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 acquiring an additional 535 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in ServisFirst Bancshares during the 2nd quarter worth about $84,000. Finally, Sanctuary Advisors LLC acquired a new position in ServisFirst Bancshares in the 2nd quarter valued at about $7,181,000. 67.31% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on SFBS shares. Hovde Group raised their price target on shares of ServisFirst Bancshares from $68.00 to $76.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 16th. Piper Sandler raised their target price on shares of ServisFirst Bancshares from $63.00 to $70.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 16th.

Insider Buying and Selling

In other news, COO Rodney Eldon Rushing sold 12,000 shares of the business’s 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 completion of the sale, the chief operating officer now directly owns 307,837 shares of the company’s stock, valued at $24,805,505.46. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 7.40% of the stock is currently owned by company insiders.

ServisFirst Bancshares Price Performance

Shares of NYSE:SFBS opened at $85.03 on Wednesday. The business has a fifty day simple moving average of $78.77 and a 200-day simple moving average of $69.73. ServisFirst Bancshares, Inc. has a 52 week low of $45.21 and a 52 week high of $87.11. The company has a market cap of $4.63 billion, a P/E ratio of 23.49 and a beta of 0.86. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.04.

ServisFirst Bancshares (NYSE:SFBS) last posted its quarterly earnings data on Monday, July 15th. The financial services provider reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.04. The company had revenue of $114.77 million during the quarter, compared to the consensus estimate of $114.80 million. ServisFirst Bancshares had a net margin of 21.25% and a return on equity of 14.19%. Equities research analysts forecast that ServisFirst Bancshares, Inc. will post 3.88 EPS for the current year.

ServisFirst Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Tuesday, October 1st were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend was Tuesday, October 1st. ServisFirst Bancshares’s dividend payout ratio (DPR) is 33.15%.

About ServisFirst Bancshares

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.