ServisFirst Bancshares (NYSE:SFBS) Announces Quarterly Earnings Results

ServisFirst Bancshares (NYSE:SFBS) issued its quarterly earnings data on Monday. The financial services provider reported $1.10 EPS for the quarter, beating the consensus estimate of $0.97 by $0.13, Yahoo Finance reports. ServisFirst Bancshares had a return on equity of 14.19% and a net margin of 21.25%. The company had revenue of $256.53 million for the quarter, compared to analyst estimates of $120.70 million. During the same period last year, the company earned $0.98 earnings per share.

ServisFirst Bancshares Stock Performance

Shares of NYSE:SFBS opened at $84.18 on Thursday. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.94 and a quick ratio of 0.94. The business’s 50 day moving average price is $80.20 and its 200-day moving average price is $70.61. The firm has a market capitalization of $4.59 billion, a PE ratio of 23.25 and a beta of 0.86. ServisFirst Bancshares has a 1 year low of $45.21 and a 1 year high of $88.86.

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 paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date of this dividend was Tuesday, October 1st. ServisFirst Bancshares’s dividend payout ratio is presently 33.15%.

Analyst Ratings Changes

Several analysts have commented on SFBS shares. Piper Sandler raised their price objective on ServisFirst Bancshares from $76.00 to $79.00 and gave the company a “neutral” rating in a report on Tuesday. Hovde Group raised 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.

Insider Buying and Selling

In other ServisFirst Bancshares news, COO Rodney Eldon Rushing sold 12,000 shares of ServisFirst Bancshares stock in a transaction dated Wednesday, September 18th. The shares were 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 in the company, valued at $24,805,505.46. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 7.40% of the stock is currently owned by company insiders.

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.