ServisFirst Bancshares (NYSE:SFBS) Price Target Cut to $84.00 by Analysts at Piper Sandler

ServisFirst Bancshares (NYSE:SFBS) had its price objective dropped by equities researchers at Piper Sandler from $96.00 to $84.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s target price would indicate a potential upside of 19.79% from the company’s current price.

Separately, StockNews.com upgraded shares of ServisFirst Bancshares from a “sell” rating to a “hold” rating in a research report on Sunday, January 5th.

ServisFirst Bancshares Stock Performance

Shares of NYSE:SFBS traded up $0.62 during trading on Tuesday, reaching $70.12. 167,452 shares of the stock were exchanged, compared to its average volume of 224,653. The firm has a market cap of $3.83 billion, a PE ratio of 16.92 and a beta of 0.89. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.04. ServisFirst Bancshares has a 12 month low of $58.43 and a 12 month high of $101.37. The stock has a 50-day moving average price of $80.87 and a 200-day moving average price of $86.20.

ServisFirst Bancshares (NYSE:SFBS) last posted its quarterly earnings data on Monday, April 21st. The financial services provider reported $1.16 earnings per share for the quarter, missing the consensus estimate of $1.18 by ($0.02). The firm had revenue of $131.83 million for the quarter, compared to the consensus estimate of $134.13 million. ServisFirst Bancshares had a return on equity of 14.81% and a net margin of 23.16%. During the same quarter in the previous year, the business earned $0.94 EPS. Research analysts expect that ServisFirst Bancshares will post 5.17 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Christopher J. Mettler sold 18,000 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $88.68, for a total transaction of $1,596,240.00. Following the completion of the sale, the director now owns 17,436 shares of the company’s stock, valued at approximately $1,546,224.48. This represents a 50.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 7.40% of the company’s stock.

Institutional Investors Weigh In On ServisFirst Bancshares

Several institutional investors and hedge funds have recently added to or reduced their stakes in SFBS. Norges Bank bought a new position in shares of ServisFirst Bancshares in the fourth quarter worth about $47,456,000. Victory Capital Management Inc. grew its stake in shares of ServisFirst Bancshares by 106.4% during the fourth quarter. Victory Capital Management Inc. now owns 857,735 shares of the financial services provider’s stock worth $72,684,000 after buying an additional 442,225 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of ServisFirst Bancshares during the fourth quarter worth $19,639,000. GAMMA Investing LLC lifted its stake in shares of ServisFirst Bancshares by 2,878.9% in the 1st quarter. GAMMA Investing LLC now owns 140,337 shares of the financial services provider’s stock valued at $11,592,000 after acquiring an additional 135,626 shares during the last quarter. Finally, Stonegate Investment Group LLC boosted its holdings in shares of ServisFirst Bancshares by 13.5% during the 4th quarter. Stonegate Investment Group LLC now owns 947,367 shares of the financial services provider’s stock valued at $80,280,000 after acquiring an additional 112,521 shares in the last quarter. 67.31% of the stock is currently owned by institutional investors.

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.