Victory Capital Management Inc. Has $936,000 Position in ServisFirst Bancshares, Inc. (NYSE:SFBS)

Victory Capital Management Inc. trimmed its holdings in shares of ServisFirst Bancshares, Inc. (NYSE:SFBS) by 2.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,816 shares of the financial services provider’s stock after selling 422 shares during the period. Victory Capital Management Inc.’s holdings in ServisFirst Bancshares were worth $936,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its position in ServisFirst Bancshares by 3.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 403,032 shares of the financial services provider’s stock valued at $26,854,000 after purchasing an additional 14,739 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of ServisFirst Bancshares by 4.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,136,579 shares of the financial services provider’s stock valued at $75,736,000 after buying an additional 47,457 shares during the last quarter. Norges Bank bought a new position in shares of ServisFirst Bancshares in the fourth quarter valued at $36,103,000. Coldstream Capital Management Inc. acquired a new position in ServisFirst Bancshares during the fourth quarter worth $210,000. Finally, Rafferty Asset Management LLC raised its position in ServisFirst Bancshares by 58.2% during the fourth quarter. Rafferty Asset Management LLC now owns 48,470 shares of the financial services provider’s stock worth $3,230,000 after acquiring an additional 17,834 shares in the last quarter. Institutional investors own 67.31% of the company’s stock.

ServisFirst Bancshares Trading Down 2.0 %

Shares of ServisFirst Bancshares stock opened at $84.50 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.94 and a quick ratio of 0.94. The business has a fifty day simple moving average of $78.06 and a two-hundred day simple moving average of $67.79. ServisFirst Bancshares, Inc. has a 1 year low of $45.21 and a 1 year high of $86.46. The company has a market capitalization of $4.61 billion, a price-to-earnings ratio of 23.15 and a beta of 0.87.

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

ServisFirst Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Tuesday, October 1st will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend is Tuesday, October 1st. ServisFirst Bancshares’s dividend payout ratio is presently 32.88%.

Analysts Set New Price Targets

A number of brokerages have recently commented on SFBS. Hovde Group lifted their price objective on shares of 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 lifted their price target on ServisFirst Bancshares from $63.00 to $70.00 and gave the stock a “neutral” rating in a report on Tuesday, July 16th.

Insider Transactions at ServisFirst Bancshares

In related news, COO Rodney Eldon Rushing sold 12,000 shares of ServisFirst Bancshares stock in a transaction that occurred 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 completion of the sale, the chief operating officer now directly owns 307,837 shares of the company’s stock, valued at approximately $24,805,505.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 7.40% of the company’s stock.

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.