Edgestream Partners L.P. Takes $3.07 Million Position in ServisFirst Bancshares, Inc. (NYSE:SFBS)

Edgestream Partners L.P. bought a new stake in ServisFirst Bancshares, Inc. (NYSE:SFBS) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 38,174 shares of the financial services provider’s stock, valued at approximately $3,071,000. Edgestream Partners L.P. owned about 0.07% of ServisFirst Bancshares at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of SFBS. Victory Capital Management Inc. lifted its stake in shares of ServisFirst Bancshares by 2,704.5% in the 3rd quarter. Victory Capital Management Inc. now owns 415,510 shares of the financial services provider’s stock valued at $33,428,000 after acquiring an additional 400,694 shares during the last quarter. Ceredex Value Advisors LLC bought a new position in ServisFirst Bancshares during the 3rd quarter valued at approximately $10,507,000. Sanctuary Advisors LLC bought a new position in ServisFirst Bancshares during the 2nd quarter valued at approximately $7,181,000. Principal Financial Group Inc. raised its position in ServisFirst Bancshares by 11.6% during the 3rd quarter. Principal Financial Group Inc. now owns 1,037,557 shares of the financial services provider’s stock valued at $83,466,000 after purchasing an additional 108,088 shares during the last quarter. Finally, HHM Wealth Advisors LLC bought a new position in ServisFirst Bancshares during the 2nd quarter valued at approximately $4,453,000. Institutional investors own 67.31% of the company’s stock.

ServisFirst Bancshares Stock Down 1.3 %

Shares of NYSE:SFBS opened at $95.78 on Monday. ServisFirst Bancshares, Inc. has a 52-week low of $50.56 and a 52-week high of $101.37. The firm has a market capitalization of $5.22 billion, a P/E ratio of 25.61 and a beta of 0.86. The stock has a 50 day moving average price of $87.07 and a 200-day moving average price of $76.38. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.95 and a current ratio of 0.95.

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

ServisFirst Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Tuesday, October 1st were issued a dividend of $0.30 per share. The ex-dividend date was Tuesday, October 1st. This represents a $1.20 annualized dividend and a dividend yield of 1.25%. ServisFirst Bancshares’s payout ratio is 32.09%.

Wall Street Analysts Forecast Growth

SFBS has been the subject of a number of recent analyst reports. Piper Sandler upped their price target on ServisFirst Bancshares from $76.00 to $79.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. StockNews.com lowered ServisFirst Bancshares from a “hold” rating to a “sell” rating in a research report on Sunday, November 24th. Finally, Hovde Group increased their target price on ServisFirst Bancshares from $80.00 to $91.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 22nd.

Insider Activity

In related news, COO Rodney Eldon Rushing sold 12,000 shares of the firm’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $80.58, for a total value of $966,960.00. Following the transaction, the chief operating officer now directly owns 307,837 shares of the company’s stock, valued at approximately $24,805,505.46. This trade represents a 3.75 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Henry Fulbrook Abbott sold 1,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the senior vice president now directly owns 8,501 shares in the company, valued at approximately $724,285.20. This represents a 10.53 % decrease in their ownership of the stock. 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.