Amalgamated Bank Sells 287 Shares of ServisFirst Bancshares, Inc. (NYSE:SFBS)

Amalgamated Bank lowered its stake in shares of ServisFirst Bancshares, Inc. (NYSE:SFBS) by 1.9% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 14,769 shares of the financial services provider’s stock after selling 287 shares during the period. Amalgamated Bank’s holdings in ServisFirst Bancshares were worth $1,188,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in SFBS. Quest Partners LLC boosted 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. GAMMA Investing LLC boosted its stake in shares of ServisFirst Bancshares by 138.6% in the 3rd 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. bought a new position in shares of ServisFirst Bancshares during the 2nd quarter valued at $84,000. CIBC Asset Management Inc grew its holdings 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. Finally, Bayesian Capital Management LP purchased a new position in ServisFirst Bancshares in the 1st quarter worth $217,000. 67.31% of the stock is owned by institutional investors.

ServisFirst Bancshares Price Performance

Shares of ServisFirst Bancshares stock opened at $95.88 on Thursday. The company’s fifty day simple moving average is $83.21 and its two-hundred day simple moving average is $73.57. ServisFirst Bancshares, Inc. has a 12-month low of $49.72 and a 12-month high of $100.14. The firm has a market cap of $5.23 billion, a PE ratio of 25.64 and a beta of 0.86. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.04.

ServisFirst Bancshares (NYSE:SFBS) last posted its earnings results 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 14.23% and a net margin of 21.16%. The company had revenue of $256.53 million for the quarter, compared to analysts’ expectations of $120.70 million. During the same period last year, the firm earned $0.98 earnings per share. As a group, equities analysts expect that ServisFirst Bancshares, Inc. will post 4.09 EPS for the current year.

ServisFirst Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Tuesday, October 1st were paid a dividend of $0.30 per share. The ex-dividend date was Tuesday, October 1st. This represents a $1.20 annualized dividend and a dividend yield of 1.25%. ServisFirst Bancshares’s dividend payout ratio (DPR) is presently 32.09%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on SFBS shares. StockNews.com upgraded shares of ServisFirst Bancshares from a “sell” rating to a “hold” rating in a research report on Tuesday. Piper Sandler raised their price target on ServisFirst Bancshares from $76.00 to $79.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Finally, Hovde Group boosted their price objective on ServisFirst Bancshares from $80.00 to $91.00 and gave the company a “market perform” rating in a research report on Tuesday, October 22nd.

Insider Activity

In related news, SVP Henry Fulbrook Abbott sold 1,000 shares of ServisFirst Bancshares 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 sale, the senior vice president now owns 8,501 shares in the company, valued at $724,285.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other 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 transaction, the chief operating officer now owns 307,837 shares of the company’s stock, valued at approximately $24,805,505.46. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Henry Fulbrook Abbott sold 1,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 8,501 shares of the company’s stock, valued at approximately $724,285.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 7.40% of the company’s stock.

ServisFirst Bancshares 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.