ServisFirst Bancshares (NYSE:SFBS) Announces Earnings Results, Beats Estimates By $0.13 EPS

ServisFirst Bancshares (NYSE:SFBS) released its earnings results on Monday. The financial services provider reported $1.10 EPS for the quarter, topping the consensus estimate of $0.97 by $0.13, Yahoo Finance reports. The firm had revenue of $256.53 million during the quarter, compared to analysts’ expectations of $120.70 million. ServisFirst Bancshares had a return on equity of 14.19% and a net margin of 21.25%. During the same period in the previous year, the firm posted $0.98 EPS.

ServisFirst Bancshares Stock Performance

SFBS traded up $1.16 during trading on Tuesday, hitting $83.97. 12,780 shares of the stock were exchanged, compared to its average volume of 197,737. The firm has a market capitalization of $4.58 billion, a P/E ratio of 23.07 and a beta of 0.86. ServisFirst Bancshares has a 1-year low of $45.21 and a 1-year high of $88.86. The stock has a fifty day moving average price of $79.78 and a two-hundred day moving average price of $70.36. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.04.

ServisFirst Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Tuesday, October 1st were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.43%. The ex-dividend date was Tuesday, October 1st. ServisFirst Bancshares’s dividend payout ratio (DPR) is 33.15%.

Insiders Place Their Bets

In other ServisFirst Bancshares news, COO Rodney Eldon Rushing sold 12,000 shares of ServisFirst Bancshares stock in a transaction that occurred 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 transaction, the chief operating officer now owns 307,837 shares of the company’s stock, valued at $24,805,505.46. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 7.40% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on SFBS shares. Piper Sandler lifted their price objective on ServisFirst Bancshares from $63.00 to $70.00 and gave the company a “neutral” rating in a research note on Tuesday, July 16th. Hovde Group lifted their price objective on ServisFirst Bancshares from $80.00 to $91.00 and gave the company a “market perform” rating in a research note on Tuesday.

About ServisFirst Bancshares

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.