Sanctuary Advisors LLC Sells 23,439 Shares of ServisFirst Bancshares, Inc. (NYSE:SFBS)

Sanctuary Advisors LLC decreased its position in ServisFirst Bancshares, Inc. (NYSE:SFBS) by 19.8% during the 3rd quarter, Holdings Channel reports. The firm owned 94,768 shares of the financial services provider’s stock after selling 23,439 shares during the period. Sanctuary Advisors LLC’s holdings in ServisFirst Bancshares were worth $7,624,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in SFBS. Geode Capital Management LLC boosted its position in ServisFirst Bancshares by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,157,350 shares of the financial services provider’s stock valued at $93,126,000 after buying an additional 23,555 shares during the period. M&T Bank Corp boosted its holdings in shares of ServisFirst Bancshares by 2.1% during the third quarter. M&T Bank Corp now owns 33,313 shares of the financial services provider’s stock worth $2,680,000 after purchasing an additional 698 shares during the period. Barclays PLC grew its stake in shares of ServisFirst Bancshares by 150.6% in the third quarter. Barclays PLC now owns 100,688 shares of the financial services provider’s stock worth $8,101,000 after purchasing an additional 60,517 shares during the last quarter. Orion Portfolio Solutions LLC increased its holdings in ServisFirst Bancshares by 2.4% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 5,569 shares of the financial services provider’s stock valued at $448,000 after purchasing an additional 128 shares during the period. Finally, Jane Street Group LLC raised its position in ServisFirst Bancshares by 48.8% during the 3rd quarter. Jane Street Group LLC now owns 76,113 shares of the financial services provider’s stock valued at $6,123,000 after purchasing an additional 24,954 shares during the last quarter. 67.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on SFBS. Piper Sandler lifted their price objective 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 shares of ServisFirst Bancshares from $80.00 to $91.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd. Finally, StockNews.com downgraded shares of ServisFirst Bancshares from a “hold” rating to a “sell” rating in a research report on Sunday, November 24th.

ServisFirst Bancshares Stock Performance

Shares of SFBS opened at $93.00 on Friday. The company has a 50-day simple moving average of $90.11 and a two-hundred day simple moving average of $78.44. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a market capitalization of $5.07 billion, a PE ratio of 24.87 and a beta of 0.88. ServisFirst Bancshares, Inc. has a one year low of $58.05 and a one year high of $101.37.

ServisFirst Bancshares (NYSE:SFBS) last released its earnings results on Monday, October 21st. The financial services provider reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.13. The company 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 14.23% and a net margin of 21.16%. During the same quarter last year, the business posted $0.98 EPS. On average, analysts anticipate that ServisFirst Bancshares, Inc. will post 4.09 EPS for the current fiscal year.

ServisFirst Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Tuesday, October 1st were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date was Tuesday, October 1st. ServisFirst Bancshares’s dividend payout ratio is presently 32.09%.

Insider Buying and Selling

In related news, COO Rodney Eldon Rushing sold 12,000 shares of the company’s stock in a transaction that occurred 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 sale, the chief operating officer now owns 307,837 shares in the company, valued at $24,805,505.46. This represents a 3.75 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, 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 owns 8,501 shares of the company’s stock, valued at $724,285.20. The trade was a 10.53 % decrease in their position. The disclosure for this sale can be found here. 7.40% of the stock is owned by company insiders.

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.