Wallace Advisory Group LLC Sells 241 Shares of ServisFirst Bancshares, Inc. (NYSE:SFBS)

Wallace Advisory Group LLC trimmed its holdings in shares of ServisFirst Bancshares, Inc. (NYSE:SFBS) by 6.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,723 shares of the financial services provider’s stock after selling 241 shares during the period. Wallace Advisory Group LLC’s holdings in ServisFirst Bancshares were worth $300,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC grew its stake in ServisFirst Bancshares by 411.5% in the fourth quarter. GAMMA Investing LLC now owns 4,711 shares of the financial services provider’s stock valued at $399,000 after purchasing an additional 3,790 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of ServisFirst Bancshares by 11.6% in 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 buying an additional 108,088 shares in the last quarter. Franklin Resources Inc. grew its position in shares of ServisFirst Bancshares by 17.8% in the 3rd quarter. Franklin Resources Inc. now owns 13,775 shares of the financial services provider’s stock worth $1,150,000 after buying an additional 2,080 shares during the last quarter. Peapack Gladstone Financial Corp bought a new position in shares of ServisFirst Bancshares during the 3rd quarter worth approximately $234,000. Finally, Geode Capital Management LLC lifted its position in ServisFirst Bancshares by 2.1% during the third quarter. Geode Capital Management LLC now owns 1,157,350 shares of the financial services provider’s stock valued at $93,126,000 after acquiring an additional 23,555 shares during the last quarter. Hedge funds and other institutional investors own 67.31% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Piper Sandler lifted their price target on shares of ServisFirst Bancshares from $76.00 to $79.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. StockNews.com raised ServisFirst Bancshares from a “sell” rating to a “hold” rating in a research report on Sunday, January 5th. Finally, Hovde Group raised their price target on ServisFirst Bancshares from $80.00 to $91.00 and gave the stock a “market perform” rating in a report on Tuesday, October 22nd.

Insider Buying and Selling

In other news, SVP Henry Fulbrook Abbott sold 1,000 shares of the company’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $85.20, for a total value of $85,200.00. Following the sale, the senior vice president now owns 8,501 shares in the company, valued at $724,285.20. This represents a 10.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 7.40% of the stock is owned by corporate insiders.

ServisFirst Bancshares Trading Up 1.4 %

NYSE SFBS opened at $82.54 on Tuesday. ServisFirst Bancshares, Inc. has a 12-month low of $58.05 and a 12-month high of $101.37. The company has a fifty day simple moving average of $91.12 and a two-hundred day simple moving average of $82.37. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.04. The stock has a market cap of $4.50 billion, a P/E ratio of 22.07 and a beta of 0.91.

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

ServisFirst Bancshares Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Thursday, January 2nd were given a $0.335 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $1.34 dividend on an annualized basis and a yield of 1.62%. This is a positive change from ServisFirst Bancshares’s previous quarterly dividend of $0.30. ServisFirst Bancshares’s dividend payout ratio is currently 35.83%.

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.