Victory Capital Management Inc. raised its stake in shares of ServisFirst Bancshares Inc. (NASDAQ:SFBS) by 77.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,433 shares of the financial services provider’s stock after buying an additional 1,064 shares during the period. Victory Capital Management Inc.’s holdings in ServisFirst Bancshares were worth $120,000 as of its most recent filing with the SEC.
Several other hedge funds have also modified their holdings of SFBS. Huntington National Bank acquired a new stake in shares of ServisFirst Bancshares during the second quarter valued at $120,000. OMERS ADMINISTRATION Corp purchased a new position in ServisFirst Bancshares during the first quarter worth approximately $231,000. Clark Capital Management Group Inc. purchased a new position in ServisFirst Bancshares during the first quarter worth approximately $255,000. BNP Paribas Arbitrage SA purchased a new position in ServisFirst Bancshares during the second quarter worth approximately $346,000. Finally, Menta Capital LLC purchased a new position in ServisFirst Bancshares during the first quarter worth approximately $354,000. Institutional investors and hedge funds own 34.03% of the company’s stock.
ServisFirst Bancshares Inc. (NASDAQ:SFBS) traded down 0.15% during trading on Thursday, reaching $52.06. 5,446 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $51.76 and its 200 day moving average price is $49.64. ServisFirst Bancshares Inc. has a 52-week low of $34.12 and a 52-week high of $53.58. The firm has a market cap of $1.37 billion, a P/E ratio of 18.53 and a beta of 1.19.
ServisFirst Bancshares (NASDAQ:SFBS) last issued its quarterly earnings results on Monday, July 18th. The financial services provider reported $0.71 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.04. ServisFirst Bancshares had a net margin of 34.23% and a return on equity of 15.77%. Equities research analysts anticipate that ServisFirst Bancshares Inc. will post $2.79 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Tuesday, October 4th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date is Friday, September 30th. ServisFirst Bancshares’s dividend payout ratio (DPR) is currently 11.76%.
A number of equities analysts have commented on the stock. Raymond James Financial Inc. upgraded shares of ServisFirst Bancshares from an “outperform” rating to a “strong-buy” rating and set a $43.00 price target on the stock in a research report on Thursday, August 25th. Zacks Investment Research lowered shares of ServisFirst Bancshares from a “buy” rating to a “hold” rating in a research report on Wednesday, June 22nd.
In related news, EVP Andrew N. Kattos sold 4,259 shares of the business’s stock in a transaction dated Wednesday, October 5th. The stock was sold at an average price of $52.46, for a total value of $223,427.14. Following the sale, the executive vice president now directly owns 127,597 shares in the company, valued at approximately $6,693,738.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Andrew N. Kattos sold 11,741 shares of the business’s stock in a transaction dated Friday, September 23rd. The shares were sold at an average price of $52.39, for a total value of $615,110.99. Following the completion of the sale, the executive vice president now owns 128,259 shares in the company, valued at $6,719,489.01. The disclosure for this sale can be found here. 14.28% of the stock is owned by corporate insiders.
About ServisFirst Bancshares
ServisFirst Bancshares, Inc is a bank holding company. The Company, through its subsidiary, ServisFirst Bank (the Bank), operates approximately 18 banking offices. Through its bank, the Company originates commercial, consumer and other loans and accepts deposits, provides electronic banking services, such as online and mobile banking, including remote deposit capture, delivers treasury and cash management services, and provides correspondent banking services to other financial institutions.
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