Jacobs Asset Management LLC Sells 35,000 Shares of ServisFirst Bancshares, Inc. (NYSE:SFBS)

Jacobs Asset Management LLC lessened its position in shares of ServisFirst Bancshares, Inc. (NYSE:SFBS) by 58.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,000 shares of the financial services provider’s stock after selling 35,000 shares during the period. ServisFirst Bancshares accounts for 1.3% of Jacobs Asset Management LLC’s holdings, making the stock its 25th biggest holding. Jacobs Asset Management LLC’s holdings in ServisFirst Bancshares were worth $2,011,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of 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 valued at $63,000 after acquiring an additional 976 shares during the last quarter. GAMMA Investing LLC increased its holdings 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 worth $74,000 after buying an additional 535 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of ServisFirst Bancshares in the 2nd quarter worth $84,000. LMR Partners LLP purchased a new stake in shares of ServisFirst Bancshares in the 3rd quarter valued at $203,000. Finally, Verition Fund Management LLC purchased a new stake in shares of ServisFirst Bancshares in the 3rd quarter valued at $208,000. 67.31% of the stock is owned by institutional investors.

ServisFirst Bancshares Stock Down 0.5 %

Shares of SFBS opened at $95.29 on Tuesday. ServisFirst Bancshares, Inc. has a 12-month low of $53.63 and a 12-month high of $101.37. The firm has a fifty day moving average price of $87.31 and a 200-day moving average price of $76.59. The firm has a market capitalization of $5.20 billion, a P/E ratio of 25.48 and a beta of 0.88. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.04.

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

ServisFirst Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Tuesday, October 1st were issued a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $1.20 annualized dividend and a yield of 1.26%. ServisFirst Bancshares’s dividend payout ratio (DPR) is presently 32.09%.

Analysts Set New Price Targets

SFBS has been the subject of several research analyst reports. Hovde Group raised their target price on shares of ServisFirst Bancshares from $80.00 to $91.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 22nd. StockNews.com lowered shares of ServisFirst Bancshares from a “hold” rating to a “sell” rating in a research note on Sunday, November 24th. Finally, Piper Sandler lifted their price target 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.

Insiders Place Their Bets

In other news, SVP Henry Fulbrook Abbott sold 1,000 shares of the stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $85.20, for a total transaction of $85,200.00. Following the transaction, the senior vice president now owns 8,501 shares in the company, valued at $724,285.20. This trade represents a 10.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Rodney Eldon Rushing sold 12,000 shares of the stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $80.58, for a total value of $966,960.00. Following the transaction, the chief operating officer now owns 307,837 shares in the company, valued at $24,805,505.46. This trade represents a 3.75 % 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.