Principal Financial Group Inc. grew its stake in ServisFirst Bancshares, Inc. (NYSE:SFBS - Free Report) by 11.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,037,557 shares of the financial services provider's stock after acquiring an additional 108,088 shares during the quarter. Principal Financial Group Inc. owned about 1.90% of ServisFirst Bancshares worth $83,466,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Point72 DIFC Ltd purchased a new stake in ServisFirst Bancshares in the 3rd quarter valued at about $32,000. GAMMA Investing LLC raised its stake 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 valued at $74,000 after acquiring an additional 535 shares during the period. Quest Partners LLC lifted its holdings in shares of ServisFirst Bancshares by 4,880.0% in the 2nd quarter. Quest Partners LLC now owns 996 shares of the financial services provider's stock worth $63,000 after acquiring an additional 976 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of ServisFirst Bancshares during the 2nd quarter worth approximately $84,000. Finally, LMR Partners LLP acquired a new stake in ServisFirst Bancshares in the 3rd quarter valued at approximately $203,000. Hedge funds and other institutional investors own 67.31% of the company's stock.
NYSE:SFBS opened at $85.86 on Friday. ServisFirst Bancshares, Inc. has a 1 year low of $58.05 and a 1 year high of $101.37. The stock has a market cap of $4.68 billion, a P/E ratio of 22.96 and a beta of 0.88. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a 50-day simple moving average of $91.09 and a 200-day simple moving average of $79.42.
ServisFirst Bancshares (NYSE:SFBS - Get Free Report) last announced 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. The company had revenue of $256.53 million for the quarter, compared to analyst estimates of $120.70 million. ServisFirst Bancshares had a net margin of 21.16% and a return on equity of 14.23%. During the same period in the prior year, the firm posted $0.98 earnings per share. As a group, analysts anticipate that ServisFirst Bancshares, Inc. will post 4.09 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Thursday, January 2nd will be paid a $0.335 dividend. This represents a $1.34 annualized dividend and a yield of 1.56%. The ex-dividend date is Thursday, January 2nd. This is an increase from ServisFirst Bancshares's previous quarterly dividend of $0.30. ServisFirst Bancshares's dividend payout ratio is currently 35.83%.
In other ServisFirst Bancshares news, SVP Henry Fulbrook Abbott sold 1,000 shares of ServisFirst Bancshares stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $85.20, for a total value of $85,200.00. Following the transaction, the senior vice president now directly owns 8,501 shares in the company, valued at approximately $724,285.20. This trade represents a 10.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 7.40% of the company's stock.
A number of research analysts have commented on SFBS shares. Hovde Group upped their price target on ServisFirst Bancshares from $80.00 to $91.00 and gave the stock a "market perform" rating in a research note on Tuesday, October 22nd. StockNews.com cut shares of ServisFirst Bancshares from a "hold" rating to a "sell" rating in a research report on Sunday, November 24th. Finally, Piper Sandler lifted their target price on ServisFirst Bancshares from $76.00 to $79.00 and gave the company a "neutral" rating in a report on Tuesday, October 22nd.
Get Our Latest Report on SFBS
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.
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