Rhumbline Advisers Has $7.73 Million Stake in ServisFirst Bancshares, Inc. (NASDAQ:SFBS)

Posted by Defense World Staff on Sep 6th, 2023

Rhumbline Advisers increased its holdings in shares of ServisFirst Bancshares, Inc. (NASDAQ:SFBS – Free Report) by 5.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 141,554 shares of the financial services provider’s stock after purchasing an additional 7,806 shares during the quarter. Rhumbline Advisers owned approximately 0.26% of ServisFirst Bancshares worth $7,733,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in ServisFirst Bancshares by 1.0% during the third quarter. Vanguard Group Inc. now owns 5,314,624 shares of the financial services provider’s stock worth $425,170,000 after purchasing an additional 55,172 shares during the last quarter. State Street Corp lifted its stake in ServisFirst Bancshares by 12.9% in the second quarter. State Street Corp now owns 2,146,142 shares of the financial services provider’s stock valued at $169,867,000 after acquiring an additional 245,142 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in ServisFirst Bancshares by 17.3% in the fourth quarter. JPMorgan Chase & Co. now owns 1,310,688 shares of the financial services provider’s stock valued at $90,320,000 after acquiring an additional 193,042 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in ServisFirst Bancshares by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,135,409 shares of the financial services provider’s stock valued at $78,242,000 after acquiring an additional 9,301 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in ServisFirst Bancshares by 14.3% in the first quarter. Principal Financial Group Inc. now owns 901,200 shares of the financial services provider’s stock valued at $49,232,000 after acquiring an additional 113,013 shares during the last quarter. Institutional investors and hedge funds own 69.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. TheStreet upgraded shares of ServisFirst Bancshares from a “c+” rating to a “b-” rating in a research note on Wednesday, August 9th. StockNews.com upgraded shares of ServisFirst Bancshares to a “sell” rating in a research note on Friday, August 25th. Finally, Piper Sandler increased their price objective on shares of ServisFirst Bancshares from $46.00 to $49.00 in a research report on Friday, July 21st.

Check Out Our Latest Analysis on SFBS

ServisFirst Bancshares Price Performance

Shares of SFBS opened at $54.62 on Wednesday. The firm has a market capitalization of $2.97 billion, a PE ratio of 12.27 and a beta of 0.91. The company’s 50-day moving average is $52.68 and its 200-day moving average is $52.28. ServisFirst Bancshares, Inc. has a fifty-two week low of $39.27 and a fifty-two week high of $89.07. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.92 and a quick ratio of 0.92.

ServisFirst Bancshares (NASDAQ:SFBS – Get Free Report) last issued its quarterly earnings data on Thursday, July 20th. The financial services provider reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.09. The company had revenue of $109.83 million for the quarter, compared to analyst estimates of $105.50 million. ServisFirst Bancshares had a net margin of 33.71% and a return on equity of 18.55%. Equities analysts forecast that ServisFirst Bancshares, Inc. will post 3.9 EPS for the current year.

ServisFirst Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 10th. Investors of record on Monday, July 3rd were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date of this dividend was Friday, June 30th. ServisFirst Bancshares’s dividend payout ratio is 25.17%.

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.