Rodney Eldon Rushing Sells 12,000 Shares of ServisFirst Bancshares, Inc. (NYSE:SFBS) Stock

ServisFirst Bancshares, Inc. (NYSE:SFBS) COO Rodney Eldon Rushing sold 12,000 shares of the company’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $80.58, for a total transaction of $966,960.00. Following the completion of the sale, the chief operating officer now directly owns 307,837 shares of the company’s stock, valued at $24,805,505.46. The sale was disclosed in a filing with the SEC, which is accessible through this link.

ServisFirst Bancshares Stock Down 2.0 %

SFBS opened at $84.50 on Friday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.04. The stock has a market cap of $4.61 billion, a price-to-earnings ratio of 23.15 and a beta of 0.87. ServisFirst Bancshares, Inc. has a twelve month low of $45.21 and a twelve month high of $86.46. The company’s 50-day moving average price is $78.06 and its two-hundred day moving average price is $67.81.

ServisFirst Bancshares (NYSE:SFBS) last released its earnings results on Monday, July 15th. The financial services provider reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.04. The firm had revenue of $114.77 million for the quarter, compared to analysts’ expectations of $114.80 million. ServisFirst Bancshares had a net margin of 21.25% and a return on equity of 14.19%. As a group, equities analysts expect that ServisFirst Bancshares, Inc. will post 3.82 earnings per share for the current year.

ServisFirst Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 8th. Shareholders of record on Tuesday, October 1st will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend is Tuesday, October 1st. ServisFirst Bancshares’s payout ratio is 32.88%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Hovde Group upped their price objective on shares of ServisFirst Bancshares from $68.00 to $76.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 16th. Piper Sandler upped their price objective on shares of ServisFirst Bancshares from $63.00 to $70.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 16th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SFBS. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of ServisFirst Bancshares during the 2nd quarter valued at approximately $84,000. Sanctuary Advisors LLC purchased a new stake in shares of ServisFirst Bancshares during the 2nd quarter valued at approximately $7,181,000. Cetera Investment Advisers lifted its stake in shares of ServisFirst Bancshares by 0.6% during the 2nd quarter. Cetera Investment Advisers now owns 32,215 shares of the financial services provider’s stock valued at $2,036,000 after buying an additional 196 shares in the last quarter. Wallace Advisory Group LLC purchased a new stake in shares of ServisFirst Bancshares during the 2nd quarter valued at approximately $250,000. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of ServisFirst Bancshares by 8.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 7,292 shares of the financial services provider’s stock valued at $461,000 after buying an additional 540 shares in the last quarter. 67.31% of the stock is currently owned by hedge funds and other institutional investors.

ServisFirst Bancshares Company Profile

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.