ServisFirst Bancshares, Inc. (NYSE:SFBS) COO Sells $966,960.00 in Stock

ServisFirst Bancshares, Inc. (NYSE:SFBS) COO Rodney Eldon Rushing sold 12,000 shares of ServisFirst Bancshares stock in a transaction dated Wednesday, September 18th. The shares were 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 directly owns 307,837 shares of the company’s stock, valued at $24,805,505.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

ServisFirst Bancshares Stock Performance

Shares of NYSE:SFBS opened at $84.50 on Monday. The stock has a market capitalization of $4.61 billion, a P/E ratio of 23.15 and a beta of 0.87. ServisFirst Bancshares, Inc. has a 1-year low of $45.21 and a 1-year high of $86.46. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.04. The business has a 50-day moving average price of $78.06 and a two-hundred day moving average price of $67.83.

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

ServisFirst Bancshares Announces Dividend

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

Hedge Funds Weigh In On ServisFirst Bancshares

Several institutional investors have recently modified their holdings of SFBS. Charles Schwab Investment Management Inc. grew its position in shares of ServisFirst Bancshares by 3.8% in the 4th 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 period. Dimensional Fund Advisors LP grew its position 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 purchasing an additional 47,457 shares during the period. Norges Bank acquired a new position in shares of ServisFirst Bancshares in the 4th quarter valued at approximately $36,103,000. Coldstream Capital Management Inc. acquired a new position in shares of ServisFirst Bancshares in the 4th quarter valued at approximately $210,000. Finally, Rafferty Asset Management LLC grew its position in shares of ServisFirst Bancshares by 58.2% in the 4th quarter. Rafferty Asset Management LLC now owns 48,470 shares of the financial services provider’s stock valued at $3,230,000 after purchasing an additional 17,834 shares during the period. 67.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Hovde Group lifted their price target on ServisFirst Bancshares from $68.00 to $76.00 and gave the company a “market perform” rating in a report on Tuesday, July 16th. Piper Sandler boosted their price objective on ServisFirst Bancshares from $63.00 to $70.00 and gave the stock a “neutral” rating in a report on Tuesday, July 16th.

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.