Davis Capital Partners LLC lifted its stake in shares of ServisFirst Bancshares, Inc. (NASDAQ:SFBS) by 9.7% in the second quarter, HoldingsChannel.com reports. The fund owned 680,000 shares of the financial services provider’s stock after acquiring an additional 60,000 shares during the period. ServisFirst Bancshares makes up approximately 2.6% of Davis Capital Partners LLC’s holdings, making the stock its 17th largest holding. Davis Capital Partners LLC’s holdings in ServisFirst Bancshares were worth $28,376,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. Aperio Group LLC lifted its holdings in ServisFirst Bancshares by 20.0% in the 1st quarter. Aperio Group LLC now owns 7,183 shares of the financial services provider’s stock worth $293,000 after purchasing an additional 1,197 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in ServisFirst Bancshares by 15.9% in the 2nd quarter. Victory Capital Management Inc. now owns 8,886 shares of the financial services provider’s stock worth $371,000 after purchasing an additional 1,220 shares in the last quarter. Comerica Bank raised its holdings in shares of ServisFirst Bancshares by 2.7% during the 1st quarter. Comerica Bank now owns 47,484 shares of the financial services provider’s stock worth $2,040,000 after acquiring an additional 1,228 shares in the last quarter. Northern Trust Corp raised its holdings in shares of ServisFirst Bancshares by 0.3% during the 1st quarter. Northern Trust Corp now owns 583,607 shares of the financial services provider’s stock worth $23,822,000 after acquiring an additional 1,488 shares in the last quarter. Finally, Prudential Financial Inc. raised its holdings in shares of ServisFirst Bancshares by 2.3% during the 1st quarter. Prudential Financial Inc. now owns 76,972 shares of the financial services provider’s stock worth $3,142,000 after acquiring an additional 1,700 shares in the last quarter. Institutional investors own 45.35% of the company’s stock.
In related news, CFO William M. Foshee sold 12,034 shares of the stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $42.35, for a total transaction of $509,639.90. Following the sale, the chief financial officer now owns 277,468 shares in the company, valued at approximately $11,750,769.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Andrew N. Kattos sold 25,000 shares of the stock in a transaction on Friday, August 24th. The shares were sold at an average price of $43.27, for a total value of $1,081,750.00. Following the sale, the executive vice president now owns 121,000 shares in the company, valued at approximately $5,235,670. The disclosure for this sale can be found here. Insiders have sold a total of 80,113 shares of company stock worth $3,471,357 over the last ninety days. Insiders own 13.62% of the company’s stock.
Several brokerages have recently issued reports on SFBS. Zacks Investment Research cut ServisFirst Bancshares from a “hold” rating to a “sell” rating in a report on Wednesday, June 20th. BidaskClub cut ServisFirst Bancshares from a “buy” rating to a “hold” rating in a report on Saturday, May 26th. Stephens reaffirmed a “hold” rating and set a $43.00 price objective on shares of ServisFirst Bancshares in a report on Monday, July 23rd. Finally, ValuEngine raised ServisFirst Bancshares from a “hold” rating to a “buy” rating in a report on Tuesday, May 22nd. Six research analysts have rated the stock with a hold rating, ServisFirst Bancshares has a consensus rating of “Hold” and a consensus price target of $44.75.
Shares of SFBS opened at $42.57 on Friday. The company has a market cap of $2.29 billion, a PE ratio of 24.20 and a beta of 1.23. ServisFirst Bancshares, Inc. has a 1 year low of $32.54 and a 1 year high of $44.95. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.98 and a current ratio of 0.98.
ServisFirst Bancshares (NASDAQ:SFBS) last issued its quarterly earnings data on Thursday, July 19th. The financial services provider reported $0.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.03. The business had revenue of $69.98 million for the quarter, compared to analysts’ expectations of $70.70 million. ServisFirst Bancshares had a return on equity of 18.67% and a net margin of 36.06%. equities analysts forecast that ServisFirst Bancshares, Inc. will post 2.49 EPS for the current fiscal year.
About ServisFirst Bancshares
ServisFirst Bancshares, Inc operates as the bank holding company for ServisFirst Bank that provides banking services to individual and corporate customers in the United States. It offers demand, time, savings, and other deposits; checking, money market, and IRA accounts; and various certificates of deposit.
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