Point72 DIFC Ltd Purchases Shares of 403 ServisFirst Bancshares, Inc. (NYSE:SFBS)

Point72 DIFC Ltd acquired a new position in ServisFirst Bancshares, Inc. (NYSE:SFBS) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 403 shares of the financial services provider’s stock, valued at approximately $32,000.

A number of other hedge funds have also made changes to their positions in SFBS. Quest Partners LLC raised its holdings in shares of ServisFirst Bancshares by 4,880.0% during the 2nd quarter. Quest Partners LLC now owns 996 shares of the financial services provider’s stock valued at $63,000 after buying an additional 976 shares during the period. GAMMA Investing LLC raised its stake in shares of ServisFirst Bancshares by 138.6% during the third quarter. GAMMA Investing LLC now owns 921 shares of the financial services provider’s stock valued at $74,000 after purchasing an additional 535 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of ServisFirst Bancshares during the second quarter valued at approximately $84,000. LMR Partners LLP acquired a new position in shares of ServisFirst Bancshares during the third quarter worth $203,000. Finally, Verition Fund Management LLC purchased a new position in shares of ServisFirst Bancshares in the third quarter valued at $208,000. Hedge funds and other institutional investors own 67.31% of the company’s stock.

Insider Activity

In related news, SVP Henry Fulbrook Abbott sold 1,000 shares of the business’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $85.20, for a total transaction of $85,200.00. Following the completion of the sale, the senior vice president now owns 8,501 shares of the company’s stock, valued at $724,285.20. This represents a 10.53 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Rodney Eldon Rushing sold 12,000 shares of the firm’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 transaction, the chief operating officer now directly owns 307,837 shares in the company, valued at $24,805,505.46. This represents a 3.75 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 7.40% of the company’s stock.

ServisFirst Bancshares Trading Up 0.2 %

SFBS opened at $94.61 on Wednesday. The stock has a market capitalization of $5.16 billion, a PE ratio of 25.30 and a beta of 0.88. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.95 and a quick ratio of 0.95. ServisFirst Bancshares, Inc. has a 12-month low of $55.83 and a 12-month high of $101.37. The firm’s fifty day moving average price is $89.18 and its 200 day moving average price is $77.88.

ServisFirst Bancshares (NYSE:SFBS) last issued its quarterly earnings results on Monday, October 21st. The financial services provider reported $1.10 EPS for the quarter, topping the consensus estimate of $0.97 by $0.13. The business had revenue of $256.53 million for the quarter, compared to analysts’ expectations of $120.70 million. ServisFirst Bancshares had a net margin of 21.16% and a return on equity of 14.23%. During the same quarter last year, the company posted $0.98 earnings per share. As a group, research analysts expect that ServisFirst Bancshares, Inc. will post 4.09 EPS for the current fiscal year.

ServisFirst Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Tuesday, October 1st were issued a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.27%. ServisFirst Bancshares’s dividend payout ratio (DPR) is 32.09%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Hovde Group boosted their price objective on shares of ServisFirst Bancshares from $80.00 to $91.00 and gave the stock a “market perform” rating in a report on Tuesday, October 22nd. StockNews.com cut ServisFirst Bancshares from a “hold” rating to a “sell” rating in a research note on Sunday, November 24th. Finally, Piper Sandler increased their price target on ServisFirst Bancshares from $76.00 to $79.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd.

ServisFirst Bancshares 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.