ServisFirst Bancshares (NYSE:SFBS) Given New $91.00 Price Target at Hovde Group

ServisFirst Bancshares (NYSE:SFBS) had its target price lifted by analysts at Hovde Group from $80.00 to $91.00 in a report released on Tuesday, Marketbeat Ratings reports. The brokerage currently has a “market perform” rating on the financial services provider’s stock. Hovde Group’s price target indicates a potential upside of 8.10% from the company’s current price.

Separately, Piper Sandler upped their price target on shares of ServisFirst Bancshares from $63.00 to $70.00 and gave the company a “neutral” rating in a report on Tuesday, July 16th.

ServisFirst Bancshares Stock Down 0.3 %

Shares of NYSE SFBS opened at $84.18 on Tuesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.94 and a current ratio of 0.94. ServisFirst Bancshares has a 1 year low of $45.21 and a 1 year high of $88.86. The stock’s 50-day simple moving average is $80.20 and its 200-day simple moving average is $70.61. The firm has a market cap of $4.59 billion, a price-to-earnings ratio of 23.25 and a beta of 0.86.

ServisFirst Bancshares (NYSE:SFBS) last posted its quarterly earnings data on Monday, October 21st. The financial services provider reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.13. ServisFirst Bancshares had a return on equity of 14.19% and a net margin of 21.25%. The company had revenue of $256.53 million for the quarter, compared to the consensus estimate of $120.70 million. During the same period in the previous year, the business earned $0.98 EPS. As a group, equities analysts anticipate that ServisFirst Bancshares will post 3.88 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, COO Rodney Eldon Rushing sold 12,000 shares of the firm’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $80.58, for a total transaction of $966,960.00. Following the transaction, the chief operating officer now directly owns 307,837 shares in the company, valued at $24,805,505.46. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 7.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On ServisFirst Bancshares

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of ServisFirst Bancshares by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 5,478,138 shares of the financial services provider’s stock valued at $365,008,000 after purchasing an additional 47,885 shares during the last quarter. Diversified Trust Co increased its position in ServisFirst Bancshares by 52.0% in the first quarter. Diversified Trust Co now owns 12,234 shares of the financial services provider’s stock worth $812,000 after buying an additional 4,187 shares during the period. Norden Group LLC lifted its stake in ServisFirst Bancshares by 2,663.4% in the first quarter. Norden Group LLC now owns 266,665 shares of the financial services provider’s stock valued at $17,696,000 after buying an additional 257,015 shares during the last quarter. Precision Wealth Strategies LLC boosted its holdings in shares of ServisFirst Bancshares by 2.5% during the first quarter. Precision Wealth Strategies LLC now owns 7,868 shares of the financial services provider’s stock valued at $522,000 after acquiring an additional 191 shares during the period. Finally, BNP Paribas Financial Markets grew its position in shares of ServisFirst Bancshares by 35.7% during the first quarter. BNP Paribas Financial Markets now owns 26,492 shares of the financial services provider’s stock worth $1,758,000 after acquiring an additional 6,964 shares during the last quarter. Institutional investors and hedge funds own 67.31% of the company’s stock.

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.