Edgestream Partners L.P. Purchases Shares of 38,174 ServisFirst Bancshares, Inc. (NYSE:SFBS)

Edgestream Partners L.P. purchased a new stake in shares of ServisFirst Bancshares, Inc. (NYSE:SFBS) during the third quarter, HoldingsChannel reports. The fund purchased 38,174 shares of the financial services provider’s stock, valued at approximately $3,071,000.

A number of other institutional investors and hedge funds have also bought and sold shares of SFBS. GAMMA Investing LLC grew its position in shares of ServisFirst Bancshares by 138.6% during the third quarter. GAMMA Investing LLC now owns 921 shares of the financial services provider’s stock valued at $74,000 after purchasing an additional 535 shares in the last quarter. Quest Partners LLC grew its position in shares of ServisFirst Bancshares by 4,880.0% during the second quarter. Quest Partners LLC now owns 996 shares of the financial services provider’s stock valued at $63,000 after purchasing an additional 976 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of ServisFirst Bancshares during the second quarter valued at about $84,000. LMR Partners LLP purchased a new position in shares of ServisFirst Bancshares during the third quarter valued at about $203,000. Finally, Verition Fund Management LLC purchased a new position in shares of ServisFirst Bancshares during the third quarter valued at about $208,000. 67.31% of the stock is owned by institutional investors.

ServisFirst Bancshares Stock Performance

ServisFirst Bancshares stock opened at $95.78 on Monday. The company 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, Inc. has a fifty-two week low of $50.56 and a fifty-two week high of $101.37. The company has a market capitalization of $5.22 billion, a PE ratio of 25.61 and a beta of 0.86.

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

ServisFirst Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Tuesday, October 1st were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend was Tuesday, October 1st. ServisFirst Bancshares’s dividend payout ratio (DPR) is 32.09%.

Insider Buying and Selling

In other ServisFirst Bancshares news, SVP Henry Fulbrook Abbott sold 1,000 shares of ServisFirst Bancshares stock in a transaction on Thursday, October 24th. The shares were 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 of the company’s stock, valued at approximately $724,285.20. The trade was a 10.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Rodney Eldon Rushing sold 12,000 shares of ServisFirst Bancshares stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $80.58, for a total transaction of $966,960.00. Following the completion of the transaction, the chief operating officer now directly owns 307,837 shares in the company, valued at $24,805,505.46. This represents a 3.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.40% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on SFBS. Piper Sandler lifted their price target on ServisFirst Bancshares from $76.00 to $79.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Hovde Group lifted their price target 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. Finally, StockNews.com lowered ServisFirst Bancshares from a “hold” rating to a “sell” rating in a research report on Sunday, November 24th.

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. 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.