M&T Bank Corp Buys 698 Shares of ServisFirst Bancshares, Inc. (NYSE:SFBS)

M&T Bank Corp grew its stake in ServisFirst Bancshares, Inc. (NYSE:SFBS) by 2.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,313 shares of the financial services provider’s stock after purchasing an additional 698 shares during the period. M&T Bank Corp owned about 0.06% of ServisFirst Bancshares worth $2,680,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Point72 DIFC Ltd bought a new position in ServisFirst Bancshares during the third quarter valued at about $32,000. Quest Partners LLC lifted 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 worth $63,000 after acquiring an additional 976 shares during the period. GAMMA Investing LLC boosted its position in shares of ServisFirst Bancshares by 138.6% during the 3rd quarter. GAMMA Investing LLC now owns 921 shares of the financial services provider’s stock valued at $74,000 after acquiring an additional 535 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in ServisFirst Bancshares in the second quarter valued at about $84,000. Finally, LMR Partners LLP acquired a new position in ServisFirst Bancshares in the third quarter worth about $203,000. Institutional investors own 67.31% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Piper Sandler upped their price objective on ServisFirst Bancshares from $76.00 to $79.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. StockNews.com cut ServisFirst Bancshares from a “hold” rating to a “sell” rating in a research report on Sunday, November 24th. Finally, Hovde Group lifted their price objective on ServisFirst Bancshares from $80.00 to $91.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd.

ServisFirst Bancshares Stock Performance

NYSE SFBS opened at $93.00 on Friday. ServisFirst Bancshares, Inc. has a 1-year low of $58.05 and a 1-year high of $101.37. The company has a 50 day moving average of $90.11 and a 200-day moving average of $78.32. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.04. The firm has a market cap of $5.07 billion, a price-to-earnings ratio of 24.87 and a beta of 0.88.

ServisFirst Bancshares (NYSE:SFBS) last issued its quarterly earnings data on Monday, October 21st. The financial services provider reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.13. The firm had revenue of $256.53 million during the quarter, compared to the consensus estimate of $120.70 million. ServisFirst Bancshares had a return on equity of 14.23% and a net margin of 21.16%. During the same quarter in the previous year, the company posted $0.98 EPS. On average, equities analysts forecast that ServisFirst Bancshares, Inc. will post 4.09 earnings per share for the current fiscal year.

ServisFirst Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Tuesday, October 1st were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date was Tuesday, October 1st. ServisFirst Bancshares’s dividend payout ratio is currently 32.09%.

Insider Buying and Selling at ServisFirst Bancshares

In other news, SVP Henry Fulbrook Abbott sold 1,000 shares of the company’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $85.20, for a total transaction of $85,200.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Rodney Eldon Rushing sold 12,000 shares of ServisFirst Bancshares stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $80.58, for a total value of $966,960.00. Following the completion of the sale, the chief operating officer now owns 307,837 shares of the company’s stock, valued at approximately $24,805,505.46. The trade was a 3.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 7.40% of the company’s stock.

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.