ServisFirst Bancshares, Inc. (NASDAQ: SFBS – Get a rating) – Equity researchers DA Davidson raised their Q2 2022 earnings estimates for ServisFirst Bancshares in a research report released Thursday, June 30. DA Davidson analyst K. Fitzsimmons now expects the financial services provider to post earnings per share of $1.20 for the quarter, up from its previous estimate of $1.12. . ServisFirst Bancshares’ current annual earnings consensus estimate is $4.38 per share. DA Davidson also released estimates for ServisFirst Bancshares earnings for fiscal year 2022 at $4.89 EPS.
Separately, StockNews.com launched a hedge on the shares of ServisFirst Bancshares in a research note on Thursday, March 31. They set a “hold” rating for the company.
SFBS opened at $78.92 on Friday. The company has a market capitalization of $4.28 billion, a PE ratio of 20.08 and a beta of 1.05. The stock has a 50-day moving average price of $79.83 and a 200-day moving average price of $84.43. ServisFirst Bancshares has a 1-year low of $63.28 and a 1-year high of $97.25. The company has a debt ratio of 0.06, a current ratio of 0.94 and a quick ratio of 0.94. ServisFirst Bancshares (NASDAQ:SFBS – Get a rating) last reported quarterly earnings data on Monday, April 18. The financial services provider reported earnings per share (EPS) of $0.99 for the quarter, missing analyst consensus estimates of $1.06 per ($0.07). ServisFirst Bancshares posted a net margin of 46.29% and a return on equity of 18.82%. The company posted revenue of $113.67 million for the quarter, compared to $110.86 million expected by analysts. In the same quarter a year earlier, the company posted EPS of $0.95.
The company also recently declared a quarterly dividend, which will be paid on Friday, July 8. Shareholders of record on Friday, July 1 will receive a dividend of $0.23. This represents an annualized dividend of $0.92 and a dividend yield of 1.17%. The ex-date of this dividend is Thursday, June 30. ServisFirst Bancshares’ dividend distribution rate is currently 23.41%.
In other news, Director J. Richard Cashio sold 1,454 shares of the company in a transaction that took place on Monday, June 6. The shares were sold at an average price of $82.13, for a total transaction of $119,417.02. Following completion of the transaction, the administrator now directly owns 448,045 shares of the company, valued at $36,797,935.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, accessible via the SEC website. Also, CEO Thomas A. Broughton acquired 1,000 shares in a transaction that took place on Friday, June 10. The shares were purchased at an average price of $76.23 per share, for a total transaction of $76,230.00. As a result of the transaction, the CEO now owns 251,530 shares of the company, valued at $19,174,131.90. Disclosure of this purchase can be found here. Company insiders own 8.31% of the company’s shares.
Several institutional investors and hedge funds have recently changed their stock holdings. Charles Schwab Investment Management Inc. increased its position in ServisFirst Bancshares by 4.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 389,773 shares of the financial services provider worth $33,107,000 after purchasing an additional 17,879 shares in the last quarter. Bank of New York Mellon Corp increased its holdings of ServisFirst Bancshares shares by 6.2% in the third quarter. Bank of New York Mellon Corp now owns 621,049 shares of the financial services provider worth $48,318,000 after buying 36,077 additional shares in the last quarter. Stonegate Investment Group LLC acquired a new stake in ServisFirst Bancshares during the fourth quarter valued at approximately $4,254,000. Strs Ohio increased its position in ServisFirst Bancshares by 73.7% during the fourth quarter. Strs Ohio now owns 3,300 shares of the financial services provider valued at $280,000 after purchasing an additional 1,400 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC increased its stake in ServisFirst Bancshares by 22.8% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,484,020 shares of the financial services provider valued at $210,992,000 after purchasing an additional 460,493 shares in the last quarter. 62.48% of the shares are held by institutional investors.
About ServisFirst Bancshares (Get a rating)
ServisFirst Bancshares, Inc operates as a bank holding company for ServisFirst Bank which provides various retail and corporate banking services. 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 loan products, such as seasonal, bridging and term loans for working capital, business expansion, 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, deposit-backed loans, and secured and unsecured personal loans.
This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]
Should you invest $1,000 in ServisFirst Bancshares right now?
Before you consider ServisFirst Bancshares, you’ll want to hear this.
MarketBeat tracks Wall Street’s top-rated, top-performing research analysts daily and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes hold…and ServisFirst Bancshares was not on the list.
Although ServisFirst Bancshares currently has a “Hold” rating among analysts, the highest-rated analysts believe these five stocks are better buys.
See the 5 actions here