The Texas Permanent School Fund reduced its stake in ServisFirst Bancshares, Inc. (NASDAQ:SFBS – Get Rating) by 1.6% during the first quarter, according to its latest communication with the Securities and Exchange Commission (SEC). The fund held 34,600 shares of the financial services provider after selling 567 shares during the quarter. The Texas Permanent School Fund held approximately 0.06% of ServisFirst Banc shares worth $3,297,000 at the end of the last quarter.
Other big investors have also been buying and selling shares of the company recently. Spire Wealth Management acquired a new position in ServisFirst Bancshares in the first quarter worth approximately $88,000. Advisor Group Holdings Inc. increased its position in ServisFirst Bancshares by 29.6% in the fourth quarter. Advisor Group Holdings Inc. now owns 1,169 shares of the financial services provider valued at $99,000 after buying 267 additional shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in ServisFirst Bancshares in the fourth quarter worth approximately $133,000. Nisa Investment Advisors LLC increased its position in ServisFirst Bancshares by 153.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,650 shares of the financial services provider valued at $140,000 after buying an additional 1,000 shares in the last quarter. Finally, Gotham Asset Management LLC acquired a new position in ServisFirst Bancshares in the fourth quarter worth approximately $208,000. Institutional investors and hedge funds hold 62.48% of the company’s shares.
Analysts set new price targets
Separately, DA Davidson reduced its price target on ServisFirst Bancshares shares from $97.00 to $94.00 in a Tuesday, April 19 research note.
Insider Activity at ServisFirst Bancshares
Separately, director J. Richard Cashio sold 1,454 shares of the company in a transaction that took place on Monday, June 6. The stock was sold at an average price of $82.13, for a total value of $119,417.02. Following completion of the transaction, the administrator now directly owns 448,045 shares of the company, valued at $36,797,935.85. The sale was disclosed in a filing with the Securities & Exchange Commission, accessible via the SEC’s website. Separately, director Irma Loya Tuder acquired 2,000 shares of the company in a transaction dated Friday, June 10. The shares were acquired at an average cost of $76.60 per share, with a total value of $153,200.00. Following the completion of the acquisition, the director now owns 42,215 shares of the company, valued at $3,233,669. The acquisition was disclosed in a legal filing with the SEC, which is available via this link. Additionally, director J. Richard Cashio sold 1,454 shares in a trade that took place on Monday, June 6. The shares were sold at an average price of $82.13, for a total value of $119,417.02. Following the completion of the sale, the director now directly owns 448,045 shares of the company, valued at $36,797,935.85. The disclosure of this sale can be found here. 8.31% of the shares are currently held by company insiders.
ServisFirst Banc shares down 0.4%
SFBS stock opened at $86.63 on Tuesday. The company’s 50-day moving average price is $80.46 and its 200-day moving average price is $83.70. The company has a debt ratio of 0.05, a quick ratio of 0.93 and a current ratio of 0.93. ServisFirst Bancshares, Inc. has a fifty-two week minimum of $69.52 and a fifty-two week maximum of $97.25. The company has a market capitalization of $4.70 billion, a price-earnings ratio of 20.87 and a beta of 1.03.
ServisFirst Bancshares (NASDAQ:SFBS – Get Rating) last released its results on Monday, July 18. The financial services provider reported earnings per share of $1.14 for the quarter, beating analyst consensus estimates of $1.13 by $0.01. ServisFirst Bancshares posted a net margin of 46.52% and a return on equity of 19.30%. In the same quarter last year, the company achieved EPS of $0.92. On average, equity research analysts expect ServisFirst Bancshares, Inc. to post an EPS of 4.63 for the current fiscal year.
ServisFirst Bancshares announces a dividend
The company also recently announced a quarterly dividend, which was paid on Friday, July 8. Investors of record on Friday July 1 received a dividend of $0.23 per share. The ex-dividend date was Thursday, June 30. This represents a dividend of $0.92 on an annualized basis and a dividend yield of 1.06%. The distribution rate of ServisFirst Bancshares is 22.17%.
About ServisFirst Bancshares
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ServisFirst Bancshares, Inc operates as a bank holding company for ServisFirst Bank which provides various retail and corporate banking services. 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 loan products, such as seasonal, bridging and term loans for working capital, business expansion, acquisition of property, 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, deposit-backed loans, and secured and unsecured personal loans.
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