Peregrine Capital Management LLC Invests $4.73 Million in ServisFirst Bancshares, Inc. $SFBS

Peregrine Capital Management LLC bought a new position in ServisFirst Bancshares, Inc. (NYSE:SFBS) during the first quarter, according to its most recent filing with the SEC. The firm bought 64,980 shares of the financial services provider’s stock, valued at approximately $4,732,000. Peregrine Capital Management LLC owned approximately 0.12% of ServisFirst Bancshares as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of SFBS. NewEdge Advisors LLC raised its holdings in ServisFirst Bancshares by 307,426.8% during the fourth quarter. NewEdge Advisors LLC now owns 919,505 shares of the financial services provider’s stock worth $66,011,000 after buying an additional 919,206 shares during the last quarter. Norges Bank acquired a new position in shares of ServisFirst Bancshares during the fourth quarter valued at about $47,908,000. First Trust Advisors LP increased its position in shares of ServisFirst Bancshares by 61.6% during the third quarter. First Trust Advisors LP now owns 528,011 shares of the financial services provider’s stock worth $42,521,000 after acquiring an additional 201,309 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of ServisFirst Bancshares by 26.2% during the third quarter. JPMorgan Chase & Co. now owns 962,164 shares of the financial services provider’s stock worth $77,483,000 after acquiring an additional 199,772 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of ServisFirst Bancshares by 3.3% in the 4th quarter. Vanguard Group Inc. now owns 6,081,945 shares of the financial services provider’s stock worth $436,623,000 after acquiring an additional 196,248 shares during the last quarter. Institutional investors and hedge funds own 67.31% of the company’s stock.

Analyst Ratings Changes

SFBS has been the topic of several recent research reports. Weiss Ratings raised shares of ServisFirst Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, June 1st. Wall Street Zen raised ServisFirst Bancshares from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Piper Sandler increased their price objective on ServisFirst Bancshares from $89.00 to $91.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 21st. Finally, Zacks Research lowered ServisFirst Bancshares from a “strong-buy” rating to a “hold” rating in a report on Monday, March 23rd. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $94.33.

ServisFirst Bancshares Stock Performance

Shares of SFBS stock opened at $88.84 on Thursday. The firm has a 50-day moving average of $79.67 and a 200-day moving average of $78.52. The company has a market cap of $4.86 billion, a P/E ratio of 16.39 and a beta of 0.86. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.98 and a quick ratio of 0.98. ServisFirst Bancshares, Inc. has a one year low of $67.20 and a one year high of $90.64.

ServisFirst Bancshares (NYSE:SFBS) last released its quarterly earnings results on Monday, April 20th. The financial services provider reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.53 by $0.01. ServisFirst Bancshares had a net margin of 28.80% and a return on equity of 16.95%. The company had revenue of $158.99 million for the quarter, compared to analyst estimates of $162.07 million. Equities research analysts forecast that ServisFirst Bancshares, Inc. will post 6.4 EPS for the current fiscal year.

ServisFirst Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Wednesday, July 1st will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $1.52 annualized dividend and a dividend yield of 1.7%. ServisFirst Bancshares’s dividend payout ratio (DPR) is currently 28.04%.

ServisFirst Bancshares Profile

ServisFirst Bancshares, Inc is a bank holding company headquartered in Birmingham, Alabama, and the parent of ServisFirst Bank. The company specializes in commercial banking services, catering primarily to small and mid-sized businesses, professionals and entrepreneurs. Its product portfolio encompasses commercial real estate lending, commercial and industrial loans, deposit accounts, treasury management and other ancillary banking products designed to meet the financial needs of its clients.

ServisFirst Bank offers a full suite of deposit products, including interest-bearing checking, money market accounts and certificates of deposit, as well as a variety of loan products.