Piper Sandler Lowers ServisFirst Bancshares (NYSE:SFBS) Price Target to $80.00

ServisFirst Bancshares (NYSE:SFBS) had its price target decreased by investment analysts at Piper Sandler from $90.00 to $80.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s price objective indicates a potential upside of 13.41% from the company’s previous close.

Other analysts have also recently issued reports about the company. Zacks Research cut ServisFirst Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 22nd. Hovde Group lowered their target price on shares of ServisFirst Bancshares from $92.00 to $85.00 and set a “market perform” rating on the stock in a research note on Tuesday. Weiss Ratings reiterated a “hold (c+)” rating on shares of ServisFirst Bancshares in a research report on Wednesday, October 8th. Finally, Raymond James Financial raised shares of ServisFirst Bancshares from a “market perform” rating to an “outperform” rating and set a $95.00 price target on the stock in a research note on Tuesday, October 7th. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $86.67.

ServisFirst Bancshares Stock Down 0.8%

SFBS stock opened at $70.54 on Tuesday. ServisFirst Bancshares has a 52 week low of $66.48 and a 52 week high of $101.37. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.04. The firm has a 50-day simple moving average of $82.71 and a 200-day simple moving average of $78.27. The stock has a market capitalization of $3.85 billion, a P/E ratio of 15.11 and a beta of 0.85.

ServisFirst Bancshares (NYSE:SFBS) last issued its quarterly earnings results on Tuesday, August 10th. The financial services provider reported $1.07 earnings per share for the quarter. ServisFirst Bancshares had a net margin of 25.24% and a return on equity of 15.93%. The firm had revenue of $104.27 million for the quarter. Equities analysts forecast that ServisFirst Bancshares will post 5.17 earnings per share for the current fiscal year.

Insider Buying and Selling at ServisFirst Bancshares

In other news, CEO Thomas A. Broughton sold 22,206 shares of the business’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $87.99, for a total transaction of $1,953,905.94. Following the transaction, the chief executive officer owned 592,588 shares of the company’s stock, valued at approximately $52,141,818.12. The trade was a 3.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 6.70% of the company’s stock.

Hedge Funds Weigh In On ServisFirst Bancshares

Institutional investors have recently bought and sold shares of the company. State of Wyoming purchased a new stake in shares of ServisFirst Bancshares in the 2nd quarter valued at approximately $29,000. Ameritas Advisory Services LLC acquired a new position in ServisFirst Bancshares in the second quarter valued at approximately $30,000. Quarry LP lifted its holdings in ServisFirst Bancshares by 52.8% in the first quarter. Quarry LP now owns 544 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 188 shares during the last quarter. GAMMA Investing LLC grew its position in ServisFirst Bancshares by 20.3% in the third quarter. GAMMA Investing LLC now owns 1,356 shares of the financial services provider’s stock worth $109,000 after acquiring an additional 229 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its stake in ServisFirst Bancshares by 6.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,094 shares of the financial services provider’s stock worth $162,000 after acquiring an additional 125 shares during the last quarter. 67.31% of the stock is owned by hedge funds and other 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.