Envestnet Asset Management Inc. Trims Position in ServisFirst Bancshares, Inc. (NASDAQ:SFBS)

Envestnet Asset Management Inc. decreased its position in shares of ServisFirst Bancshares, Inc. (NASDAQ:SFBS) by 6.8% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 15,112 shares of the financial services provider’s stock after selling 1,105 shares during the period. Envestnet Asset Management Inc.’s holdings in ServisFirst Bancshares were worth $927,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Oregon Public Employees Retirement Fund lifted its stake in shares of ServisFirst Bancshares by 2.1% during the first quarter. Oregon Public Employees Retirement Fund now owns 19,055 shares of the financial services provider’s stock valued at $1,169,000 after buying an additional 400 shares during the period. Public Sector Pension Investment Board increased its position in ServisFirst Bancshares by 0.5% during the fourth quarter. Public Sector Pension Investment Board now owns 103,756 shares of the financial services provider’s stock worth $4,180,000 after purchasing an additional 500 shares during the last quarter. Lazard Asset Management LLC acquired a new position in ServisFirst Bancshares during the fourth quarter worth approximately $25,000. Eukles Asset Management increased its position in ServisFirst Bancshares by 12.2% during the first quarter. Eukles Asset Management now owns 6,617 shares of the financial services provider’s stock worth $406,000 after purchasing an additional 718 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in ServisFirst Bancshares by 2.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 29,026 shares of the financial services provider’s stock worth $1,169,000 after purchasing an additional 750 shares during the last quarter. 57.73% of the stock is currently owned by institutional investors and hedge funds.

SFBS opened at $69.48 on Friday. The company’s fifty day moving average price is $65.52. The firm has a market cap of $3.76 billion, a price-to-earnings ratio of 20.20 and a beta of 1.18. ServisFirst Bancshares, Inc. has a twelve month low of $31.67 and a twelve month high of $71.81. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.98 and a current ratio of 0.98.

ServisFirst Bancshares (NASDAQ:SFBS) last released its quarterly earnings results on Sunday, April 18th. The financial services provider reported $0.95 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.95. ServisFirst Bancshares had a net margin of 43.87% and a return on equity of 19.16%. The business had revenue of $100.83 million during the quarter, compared to analyst estimates of $100.32 million. Analysts forecast that ServisFirst Bancshares, Inc. will post 3.58 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 9th. Shareholders of record on Thursday, April 1st were paid a dividend of $0.20 per share. The ex-dividend date was Wednesday, March 31st. This represents a $0.80 dividend on an annualized basis and a yield of 1.15%. ServisFirst Bancshares’s dividend payout ratio (DPR) is 25.56%.

In other ServisFirst Bancshares news, Director Hatton C.V. Smith sold 22,000 shares of the stock in a transaction on Thursday, April 22nd. The shares were sold at an average price of $61.80, for a total transaction of $1,359,600.00. Also, CFO William M. Foshee sold 7,000 shares of the stock in a transaction on Thursday, June 3rd. The shares were sold at an average price of $69.03, for a total transaction of $483,210.00. The disclosure for this sale can be found here. Insiders have sold a total of 71,400 shares of company stock worth $4,390,042 over the last quarter. 9.93% of the stock is currently owned by insiders.

Several equities analysts recently commented on SFBS shares. Hovde Group lowered shares of ServisFirst Bancshares from an “outperform” rating to a “market perform” rating in a research report on Wednesday, April 7th. Zacks Investment Research raised shares of ServisFirst Bancshares from a “hold” rating to a “buy” rating and set a $79.00 price target for the company in a report on Wednesday.

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. The company accepts demand, time, savings, and other deposits; checking, money market, and IRA accounts; and certificates of deposit. Its loan products include commercial lending products, such as 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.

Further Reading: Correction

Institutional Ownership by Quarter for ServisFirst Bancshares (NASDAQ:SFBS)

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