Today: Today, ServisFirst Bancshares Inc. (SFBS) Sees Strong Trading Volume After Better-Than-Expected Earnings

Today, ServisFirst Bancshares Inc. (SFBS) Sees Strong Trading Volume After Better-Than-Expected Earnings

ServisFirst Bancshares Inc. (NASDAQ:SFBS) saw an uptick in trading volume on Tuesday after the company announced better than expected quarterly earnings. 79,903 shares traded hands during trading, an increase of 25% from the previous session’s volume of 63,958 shares.The stock last traded at $51.60 and had previously closed at $51.80.

The financial services provider reported $0.78 earnings per share (EPS) for the quarter, beating 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%.

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

SFBS has been the subject of several recent research reports. Zacks Investment Research lowered shares of ServisFirst Bancshares from a “buy” rating to a “hold” rating in a research note on Wednesday, June 22nd. Raymond James Financial Inc. reiterated a “market perform” rating on shares of ServisFirst Bancshares in a research note on Tuesday. Finally, Hovde Group boosted their target price on shares of ServisFirst Bancshares from $55.00 to $55.50 and gave the company a “market perform” rating in a research note on Tuesday.

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

Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Fund Advisors raised its position in ServisFirst Bancshares by 147.9% in the second quarter. BlackRock Fund Advisors now owns 1,403,955 shares of the financial services provider’s stock valued at $69,341,000 after buying an additional 837,607 shares in the last quarter. Royal Bank of Canada raised its position in ServisFirst Bancshares by 569.9% in the second quarter. Royal Bank of Canada now owns 368,850 shares of the financial services provider’s stock valued at $18,217,000 after buying an additional 313,789 shares in the last quarter. Vanguard Group Inc. raised its position in ServisFirst Bancshares by 28.2% in the second quarter. Vanguard Group Inc. now owns 1,007,306 shares of the financial services provider’s stock valued at $49,751,000 after buying an additional 221,357 shares in the last quarter. Principal Financial Group Inc. purchased a new position in ServisFirst Bancshares during the second quarter valued at approximately $7,561,000. Finally, Bank of New York Mellon Corp raised its position in ServisFirst Bancshares by 154.7% in the second quarter. Bank of New York Mellon Corp now owns 242,965 shares of the financial services provider’s stock valued at $11,999,000 after buying an additional 147,586 shares in the last quarter. Institutional investors and hedge funds own 33.94% of the company’s stock.

The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of 18.37 and a beta of 1.20. The company has a 50-day moving average of $51.97 and a 200-day moving average of $50.28.

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