ServisFirst Bancshares, Inc. (NASDAQ:SFBS – Get Free Report)’s share price gapped up prior to trading on Friday after Piper Sandler raised their price target on the stock from $46.00 to $49.00. The stock had previously closed at $48.44, but opened at $52.94. ServisFirst Bancshares shares last traded at $56.64, with a volume of 118,512 shares.
Several other analysts have also weighed in on SFBS. Raymond James started coverage on ServisFirst Bancshares in a report on Thursday, April 6th. They set a “market perform” rating on the stock. StockNews.com upgraded ServisFirst Bancshares to a “sell” rating in a research report on Monday, June 26th. Finally, TheStreet downgraded ServisFirst Bancshares from a “b-” rating to a “c+” rating in a research report on Tuesday, May 30th.
Insider Activity
In related news, CEO Thomas A. Broughton bought 2,775 shares of the company’s stock in a transaction that occurred on Thursday, May 4th. The shares were acquired at an average price of $44.60 per share, for a total transaction of $123,765.00. Following the completion of the acquisition, the chief executive officer now owns 2,775 shares of the company’s stock, valued at approximately $123,765. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 8.22% of the company’s stock.
Hedge Funds Weigh In On ServisFirst Bancshares
ServisFirst Bancshares Stock Up 20.1 %
The company has a market capitalization of $3.16 billion, a P/E ratio of 12.62 and a beta of 0.84. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.05. The stock has a 50 day moving average price of $43.76 and a 200 day moving average price of $55.35.
ServisFirst Bancshares Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, July 10th. Stockholders of record on Monday, July 3rd were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date was Friday, June 30th. ServisFirst Bancshares’s payout ratio is 24.30%.
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.
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