ServisFirst Bankshares, Inc. (NASDAQ:SFBS – Get Rating) announced a quarterly dividend on Thursday, June 23, reports The Wall Street Journal. Shareholders of record on Friday, July 1 will receive a dividend of $0.23 per share from the financial services provider on Friday, July 8. That equates to a dividend of $0.92 on an annualized basis and a yield of 1.22%. The ex-dividend date is Thursday June 30th.
Shares of NASDAQ:SFBS fell $0.96 on Thursday to hit $75.59. The company had a trading volume of 140,777 shares compared to its average volume of 190,576. ServisFirst Bancshares has a 52-week low of $63.28 and a 52-week high of $97.25. The company’s 50-day simple moving average is $80.84 and its 200-day simple moving average is $84.64. The company has a market cap of $4.10 billion, a P/E of 19.08 and a beta of 1.05. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt to equity ratio of 0.06.
ServisFirst Bancshares (NASDAQ:SFBS – Get Rating) last reported its quarterly results on Monday, April 18th. The financial services firm reported earnings per share (EPS) of $0.99 for the quarter, falling short of analyst consensus estimates of $1.06 ($0.07). ServisFirst Bancshares had a net margin of 46.29% and a return on equity of 18.82%. The company had revenue of $113.67 million for the quarter, compared to analysts’ expectations of $110.86 million. In the same quarter last year, the company reported earnings per share of $0.95. As a group, equity analysts are forecasting that ServisFirst Bancshares will report year-to-date earnings per share of 4.38.
SFBS has been the subject of several research analyst reports. DA Davidson lowered its price target for ServisFirst Bancshares from $97.00 to $94.00 in a research note on Tuesday, April 19. StockNews.com began coverage of ServisFirst Bancshares in a Research Note on Thursday, March 31st. You give the stock a “hold” rating.
In other news from ServisFirst Bancshares, Director J. Richard Cashio sold 1,454 shares of the company’s shares in a transaction on Monday, June 6th. The shares were sold at an average price of $82.13 for a total transaction of $119,417.02. Upon completion of the transaction, the Director now directly owns 448,045 shares of the Company, valued at $36,797,935.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed at this hyperlink. Also, CEO Thomas A. Broughton bought 1,000 shares of the company’s stock in a transaction on Friday, June 10. The stock was purchased at an average price of $76.23 per share for a total transaction of $76,230.00. Following the transaction, the Chief Executive Officer now owns 251,530 shares of the Company, valued at $19,174,131.90. The disclosure for this purchase can be found here. 8.31% of the shares are owned by insiders.
A number of hedge funds have recently changed their positions in the business. State Street Corp increased its stake in ServisFirst Bancshares by 6.9% in the first quarter. State Street Corp now owns 1,901,000 shares of the financial services provider valued at $181,578,000 after purchasing an additional 121,916 shares during the period. Vanguard Group Inc. increased its holding of ServisFirst Bancshares shares by 0.8% in the first quarter. Vanguard Group Inc. now owns 5,231,794 shares of the financial services provider valued at $498,537,000 after purchasing an additional 40,095 shares during the period. Federated Hermes Inc. increased its stake in ServisFirst Bancshares by 234,035.3% in the first quarter. Federated Hermes Inc. now owns 39,803 shares of the financial services provider, valued at $3,793,000, after purchasing an additional 39,786 shares last quarter. Neuberger Berman Group LLC increased its stake in ServisFirst Bancshares by 419.1% in the first quarter. Neuberger Berman Group LLC now owns 27,176 shares of the financial services firm valued at $2,589,000 after purchasing an additional 21,941 shares during the period. Finally, MetLife Investment Management LLC increased its stake in ServisFirst Bancshares by 54.0% during the first quarter. MetLife Investment Management LLC now owns 26,637 shares of the financial services provider valued at $2,538,000 after purchasing an additional 9,335 shares during the period. Institutional investors own 62.48% of the company’s shares.
About ServisFirst Bancshares (received rating)
ServisFirst Bancshares, Inc acts as the bank holding company for ServisFirst Bank, which 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 credit products include commercial credit products such as: B. seasonal, bridge and term loans for working capital, business expansion, real estate and plant and equipment acquisitions and 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.
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