Handelsbanken Fonder AB bought a new position in shares of ServisFirst Bancshares, Inc. (NASDAQ:SFBS) during the second quarter, HoldingsChannel.com reports. The firm bought 8,823 shares of the financial services provider’s stock, valued at approximately $316,000.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Charles Schwab Investment Management Inc. boosted its holdings in ServisFirst Bancshares by 8.1% during the second quarter. Charles Schwab Investment Management Inc. now owns 314,306 shares of the financial services provider’s stock worth $11,240,000 after buying an additional 23,562 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of ServisFirst Bancshares by 18.1% during the 2nd quarter. AQR Capital Management LLC now owns 22,035 shares of the financial services provider’s stock valued at $788,000 after purchasing an additional 3,383 shares in the last quarter. California State Teachers Retirement System lifted its holdings in shares of ServisFirst Bancshares by 1.6% during the 2nd quarter. California State Teachers Retirement System now owns 73,448 shares of the financial services provider’s stock valued at $2,627,000 after purchasing an additional 1,138 shares in the last quarter. Captrust Financial Advisors bought a new position in shares of ServisFirst Bancshares during the 2nd quarter valued at about $13,952,000. Finally, Bank of America Corp DE lifted its holdings in shares of ServisFirst Bancshares by 10.5% during the 2nd quarter. Bank of America Corp DE now owns 38,874 shares of the financial services provider’s stock valued at $1,390,000 after purchasing an additional 3,687 shares in the last quarter. Hedge funds and other institutional investors own 54.72% of the company’s stock.
Several equities analysts have recently weighed in on the company. Zacks Investment Research upgraded ServisFirst Bancshares from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a report on Wednesday, June 24th. BidaskClub cut ServisFirst Bancshares from a “sell” rating to a “strong sell” rating in a report on Saturday, September 12th. Finally, ValuEngine upgraded ServisFirst Bancshares from a “strong sell” rating to a “sell” rating in a report on Monday, August 3rd.
In other ServisFirst Bancshares news, CFO William M. Foshee sold 6,700 shares of the business’s stock in a transaction that occurred on Thursday, July 23rd. The stock was sold at an average price of $37.49, for a total transaction of $251,183.00. Following the transaction, the chief financial officer now owns 319,130 shares of the company’s stock, valued at approximately $11,964,183.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO William M. Foshee sold 3,294 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $38.42, for a total value of $126,555.48. Following the transaction, the chief financial officer now directly owns 317,630 shares in the company, valued at approximately $12,203,344.60. The disclosure for this sale can be found here. Insiders sold a total of 20,194 shares of company stock worth $773,794 in the last 90 days. Company insiders own 10.47% of the company’s stock.
NASDAQ SFBS opened at $33.74 on Wednesday. The stock has a market capitalization of $1.82 billion, a price-to-earnings ratio of 11.88 and a beta of 1.26. The stock’s 50 day moving average price is $36.42 and its two-hundred day moving average price is $33.77. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.98 and a current ratio of 0.98. ServisFirst Bancshares, Inc. has a 52 week low of $21.76 and a 52 week high of $40.90.
ServisFirst Bancshares (NASDAQ:SFBS) last released its earnings results on Monday, July 20th. The financial services provider reported $0.75 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.05. The firm had revenue of $90.27 million for the quarter, compared to analysts’ expectations of $100.51 million. ServisFirst Bancshares had a return on equity of 17.69% and a net margin of 36.79%. On average, equities research analysts forecast that ServisFirst Bancshares, Inc. will post 2.81 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Thursday, October 1st will be paid a $0.175 dividend. This represents a $0.70 annualized dividend and a yield of 2.07%. The ex-dividend date is Wednesday, September 30th. ServisFirst Bancshares’s payout ratio is 25.55%.
ServisFirst Bancshares Profile
ServisFirst Bancshares, Inc operates as the bank holding company for ServisFirst Bank that provides banking services to individual and corporate customers in the United States. It offers demand, time, savings, and other deposits; checking, money market, and IRA accounts; and certificates of deposit. The company also provides commercial lending products, such as seasonal loans, bridge loans, and term loans for working capital, expansion of the business, or acquisition of property, 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.
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