Today, Hovde Group Raises ServisFirst Bancshares Inc. (SFBS) Price Target to $55.50

Today, Hovde Group Raises ServisFirst Bancshares Inc. (SFBS) Price Target to $55.50

ServisFirst Bancshares Inc. (NASDAQ:SFBS) had its price target lifted by equities researchers at Hovde Group from $55.00 to $55.50 in a report issued on Tuesday. The firm presently has a “market perform” rating on the financial services provider’s stock. Hovde Group’s price target points to a potential upside of 7.14% from the stock’s current price.

Several other brokerages also recently commented on SFBS. Raymond James Financial Inc. raised shares of ServisFirst Bancshares from an “outperform” rating to a “strong-buy” rating and set a $43.00 target price on the stock in a research note on Thursday, August 25th. Zacks Investment Research downgraded shares of ServisFirst Bancshares from a “buy” rating to a “hold” rating in a research report on Wednesday, June 22nd.

Shares of ServisFirst Bancshares (NASDAQ:SFBS) opened at 51.80 on Tuesday. The stock has a 50 day moving average of $51.97 and a 200 day moving average of $50.28. The stock has a market cap of $1.36 billion, a P/E ratio of 18.44 and a beta of 1.20. ServisFirst Bancshares has a one year low of $34.12 and a one year high of $53.58.

ServisFirst Bancshares (NASDAQ:SFBS) last issued its earnings results on Monday, October 17th. The financial services provider reported $0.78 EPS for the quarter, topping the consensus estimate of $0.72 by $0.06. ServisFirst Bancshares had a net margin of 34.23% and a return on equity of 15.77%. On average, analysts forecast that ServisFirst Bancshares will post $2.79 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 14th. Shareholders of record on Tuesday, October 4th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date was Friday, September 30th. ServisFirst Bancshares’s payout ratio is currently 11.76%.

In other ServisFirst Bancshares news, EVP Andrew N. Kattos sold 11,741 shares of the business’s stock in a transaction on Friday, September 23rd. The shares were sold at an average price of $52.39, for a total transaction of $615,110.99. Following the transaction, the executive vice president now directly owns 128,259 shares of the company’s stock, valued at approximately $6,719,489.01. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Andrew N. Kattos sold 4,259 shares of the business’s stock in a transaction on Wednesday, October 5th. The shares were sold at an average price of $52.46, for a total transaction of $223,427.14. Following the transaction, the executive vice president now directly owns 127,597 shares in the company, valued at $6,693,738.62. The disclosure for this sale can be found here. Company insiders own 14.28% of the company’s stock.

Several hedge funds have recently made changes to their positions in SFBS. Huntington National Bank acquired a new stake in shares of ServisFirst Bancshares during the second quarter worth approximately $120,000. Victory Capital Management Inc. boosted its stake in shares of ServisFirst Bancshares by 77.7% in the second quarter. Victory Capital Management Inc. now owns 2,433 shares of the financial services provider’s stock worth $120,000 after buying an additional 1,064 shares during the period. US Bancorp DE acquired a new stake in shares of ServisFirst Bancshares during the second quarter worth approximately $132,000. PineBridge Investments L.P. acquired a new stake in shares of ServisFirst Bancshares during the second quarter worth approximately $137,000. Finally, Teacher Retirement System of Texas boosted its stake in shares of ServisFirst Bancshares by 14.0% in the second quarter. Teacher Retirement System of Texas now owns 3,083 shares of the financial services provider’s stock worth $152,000 after buying an additional 379 shares during the period. Hedge funds and other institutional investors own 33.94% of the company’s stock.

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