Fmr LLC Purchases 20,559 Shares of ServisFirst Bancshares, Inc. (NYSE:SFBS)

Fmr LLC raised its position in shares of ServisFirst Bancshares, Inc. (NYSE:SFBS) by 552.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,280 shares of the financial services provider’s stock after acquiring an additional 20,559 shares during the quarter. Fmr LLC’s holdings in ServisFirst Bancshares were worth $1,953,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Quest Partners LLC raised its holdings in shares of ServisFirst Bancshares by 4,880.0% during the second 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 period. GAMMA Investing LLC raised its holdings 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 purchasing an additional 535 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of ServisFirst Bancshares during the second quarter valued at about $84,000. LMR Partners LLP acquired a new position in shares of ServisFirst Bancshares during the third quarter valued at about $203,000. Finally, CIBC Asset Management Inc raised its holdings in shares of ServisFirst Bancshares by 8.7% during the second 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 period. Institutional investors own 67.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SFBS. StockNews.com lowered shares of ServisFirst Bancshares from a “hold” rating to a “sell” rating in a report on Sunday, November 24th. Piper Sandler upped their price objective on shares of ServisFirst Bancshares from $76.00 to $79.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Finally, Hovde Group upped their price objective on shares of ServisFirst Bancshares from $80.00 to $91.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd.

Insider Buying and Selling

In other ServisFirst Bancshares news, SVP Henry Fulbrook Abbott sold 1,000 shares of the company’s stock in a transaction dated 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 sale, the senior vice president now directly owns 8,501 shares of the company’s stock, valued at approximately $724,285.20. This represents a 10.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Rodney Eldon Rushing sold 12,000 shares of the company’s stock in a transaction dated Wednesday, September 18th. The stock was 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 3.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.40% of the stock is currently owned by company insiders.

ServisFirst Bancshares Trading Down 0.7 %

SFBS opened at $93.00 on Monday. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.95 and a quick ratio of 0.95. ServisFirst Bancshares, Inc. has a fifty-two week low of $58.05 and a fifty-two week high of $101.37. The firm has a market capitalization of $5.07 billion, a PE ratio of 24.87 and a beta of 0.88. The company’s 50-day moving average is $90.11 and its 200 day moving average is $78.57.

ServisFirst Bancshares (NYSE:SFBS) last posted its earnings results on Monday, October 21st. The financial services provider reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.13. ServisFirst Bancshares had a net margin of 21.16% and a return on equity of 14.23%. The company had revenue of $256.53 million for the quarter, compared to analyst estimates of $120.70 million. During the same quarter in the prior year, the business posted $0.98 EPS. As a group, research analysts predict that ServisFirst Bancshares, Inc. will post 4.09 earnings per share for the current fiscal year.

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.