ServisFirst Bancshares, Inc. (NYSE:SFBS) to Issue Quarterly Dividend of $0.34

ServisFirst Bancshares, Inc. (NYSE:SFBS) announced a quarterly dividend on Tuesday, June 17th, RTT News reports. Stockholders of record on Tuesday, July 1st will be given a dividend of 0.335 per share by the financial services provider on Wednesday, July 9th. This represents a $1.34 dividend on an annualized basis and a dividend yield of 1.87%.

ServisFirst Bancshares has a dividend payout ratio of 22.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect ServisFirst Bancshares to earn $6.14 per share next year, which means the company should continue to be able to cover its $1.34 annual dividend with an expected future payout ratio of 21.8%.

ServisFirst Bancshares Trading Down 0.9%

ServisFirst Bancshares stock opened at $71.75 on Wednesday. ServisFirst Bancshares has a 52 week low of $58.51 and a 52 week high of $101.37. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market capitalization of $3.92 billion, a price-to-earnings ratio of 16.31 and a beta of 0.85. The company has a 50 day moving average price of $73.26 and a 200 day moving average price of $81.96.

ServisFirst Bancshares (NYSE:SFBS) last released its earnings results on Monday, April 21st. The financial services provider reported $1.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.02). The business had revenue of $131.83 million during the quarter, compared to analysts’ expectations of $134.13 million. ServisFirst Bancshares had a net margin of 24.16% and a return on equity of 15.11%. During the same quarter in the previous year, the company earned $0.94 EPS. Research analysts forecast that ServisFirst Bancshares will post 5.17 EPS for the current year.

Institutional Investors Weigh In On ServisFirst Bancshares

A number of institutional investors have recently modified their holdings of SFBS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in ServisFirst Bancshares by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,194 shares of the financial services provider’s stock valued at $2,494,000 after purchasing an additional 1,308 shares in the last quarter. Royal Bank of Canada lifted its holdings in shares of ServisFirst Bancshares by 17.2% during the 1st quarter. Royal Bank of Canada now owns 16,815 shares of the financial services provider’s stock valued at $1,390,000 after buying an additional 2,465 shares during the last quarter. Caxton Associates LLP acquired a new stake in shares of ServisFirst Bancshares during the 1st quarter valued at about $204,000. United Services Automobile Association bought a new stake in shares of ServisFirst Bancshares in the 1st quarter valued at approximately $260,000. Finally, AQR Capital Management LLC increased its holdings in ServisFirst Bancshares by 70.9% in the first quarter. AQR Capital Management LLC now owns 8,989 shares of the financial services provider’s stock worth $742,000 after buying an additional 3,730 shares during the last quarter. Institutional investors and hedge funds own 67.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler dropped their target price on ServisFirst Bancshares from $96.00 to $84.00 and set a “neutral” rating on the stock in a report on Tuesday, April 22nd.

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.