Principal Financial Group Inc. Boosts Holdings in ServisFirst Bancshares, Inc. (NASDAQ:SFBS)

Posted by Defense World Staff on Aug 19th, 2023

Principal Financial Group Inc. lifted its stake in ServisFirst Bancshares, Inc. (NASDAQ:SFBS – Free Report) by 14.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 901,200 shares of the financial services provider’s stock after buying an additional 113,013 shares during the period. Principal Financial Group Inc. owned approximately 1.66% of ServisFirst Bancshares worth $49,232,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of SFBS. Spire Wealth Management grew its position in ServisFirst Bancshares by 42.3% during the 1st quarter. Spire Wealth Management now owns 1,191 shares of the financial services provider’s stock worth $65,000 after purchasing an additional 354 shares during the last quarter. Tower Research Capital LLC TRC grew its position in ServisFirst Bancshares by 223.2% during the 1st quarter. Tower Research Capital LLC TRC now owns 1,377 shares of the financial services provider’s stock worth $75,000 after purchasing an additional 951 shares during the last quarter. SG Americas Securities LLC grew its position in ServisFirst Bancshares by 22.7% during the 1st quarter. SG Americas Securities LLC now owns 2,817 shares of the financial services provider’s stock worth $154,000 after purchasing an additional 522 shares during the last quarter. Point72 Hong Kong Ltd grew its position in ServisFirst Bancshares by 1,043.6% during the 2nd quarter. Point72 Hong Kong Ltd now owns 2,230 shares of the financial services provider’s stock worth $176,000 after purchasing an additional 2,035 shares during the last quarter. Finally, Jane Street Group LLC grew its position in ServisFirst Bancshares by 17.8% during the 2nd quarter. Jane Street Group LLC now owns 2,973 shares of the financial services provider’s stock worth $235,000 after purchasing an additional 449 shares during the last quarter. 66.48% of the stock is owned by hedge funds and other institutional investors.

ServisFirst Bancshares Stock Up 0.4 %

SFBS stock opened at $58.36 on Friday. ServisFirst Bancshares, Inc. has a one year low of $39.27 and a one year high of $92.91. The stock has a market capitalization of $3.18 billion, a PE ratio of 13.07 and a beta of 0.90. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.92 and a current ratio of 0.92. The company has a fifty day moving average of $49.85 and a 200-day moving average of $53.91.

ServisFirst Bancshares (NASDAQ:SFBS – Get Free Report) last released its earnings results on Thursday, July 20th. The financial services provider reported $0.98 EPS for the quarter, topping the consensus estimate of $0.89 by $0.09. ServisFirst Bancshares had a net margin of 33.71% and a return on equity of 18.55%. The company had revenue of $109.83 million during the quarter, compared to analysts’ expectations of $105.50 million. As a group, analysts expect that ServisFirst Bancshares, Inc. will post 3.9 EPS for the current year.

ServisFirst Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 10th. Investors of record on Monday, July 3rd were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 1.92%. The ex-dividend date of this dividend was Friday, June 30th. ServisFirst Bancshares’s dividend payout ratio (DPR) is 25.17%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. TheStreet raised shares of ServisFirst Bancshares from a “c+” rating to a “b-” rating in a research report on Wednesday, August 9th. Piper Sandler raised their target price on shares of ServisFirst Bancshares from $46.00 to $49.00 in a research note on Friday, July 21st. Finally, StockNews.com upgraded shares of ServisFirst Bancshares to a “sell” rating in a research note on Monday, June 26th.

Read Our Latest Stock Analysis on SFBS

ServisFirst Bancshares Company Profile

(Free Report)

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.