Short Rate Update from ServisFirst Bancshares, Inc. (NASDAQ: SFBS)
ServisFirst Bancshares, Inc. (NASDAQ: SFBS) benefited from strong growth in short interest during the month of June. As of June 30, there was overdraft interest totaling 2,060,000 shares, an increase of 23.4% from the total of 1,670,000 shares as of June 15. Based on an average trading volume of 187,200 shares, the short-term interest ratio is currently 11.0 days. Currently 4.6% of the company’s shares are sold short.
NASDAQ SFBS shares opened at $ 65.53 on Tuesday. The fifty-day moving average share price is $ 67.98. The company has a market cap of $ 3.55 billion, a PE ratio of 19.05 and a beta of 1.16. ServisFirst Bancshares has a twelve month low of $ 31.93 and a twelve month high of $ 71.81. The company has a current ratio of 0.98, a quick ratio of 0.98, and a debt ratio of 0.06.
ServisFirst Bancshares (NASDAQ: SFBS) last released its quarterly earnings data on Monday, July 19. The financial services provider reported EPS of $ 0.92 for the quarter, reaching the consensus estimate of $ 0.92. ServisFirst Bancshares has a net margin of 43.87% and a return on equity of 19.16%. As a group, analysts predict ServisFirst Bancshares will post 3.58 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 9. Investors registered on Thursday, July 1 received a dividend of $ 0.20. The ex-dividend date of this dividend was Wednesday June 30. This represents an annualized dividend of $ 0.80 and a return of 1.22%. ServisFirst Bancshares’ dividend payout ratio is currently 25.56%.
A number of equity analysts have weighed on the title recently. Hovde Group downgraded ServisFirst Bancshares shares from an “outperformance” rating to a “market performance” rating in a research report published on Wednesday April 7th. Zacks investment research reduced ServisFirst Bancshares shares from a “buy” rating to a “hold” rating in a research report published on Wednesday, June 23.
In other ServisFirst Bancshares news, CFO William M. Foshee sold 7,000 shares of ServisFirst Bancshares in a trade on Thursday, June 3. The shares were sold at an average price of $ 69.03, for a total trade of $ 483,210.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed via this link. In addition, Director J. Richard Cashio sold 600 shares of ServisFirst Bancshares in a trade on Monday June 14th. The stock was sold for an average price of $ 68.84, for a total trade of $ 41,304.00. Disclosure of this sale can be found here. Insiders have sold a total of 37,000 shares of the company valued at $ 2,359,696 in the past ninety days. Company insiders own 9.93% of the company’s shares.
A number of institutional investors and hedge funds have recently bought and sold shares of SFBS. First Trust Advisors LP increased its position in ServisFirst Bancshares by 15.3% in the 1st quarter. First Trust Advisors LP now owns 80,386 shares of the financial services provider valued at $ 2,714,000 after acquiring an additional 10,667 shares in the last quarter. Citigroup Inc. increased its position in ServisFirst Bancshares by 50.0% during the 4th quarter. Citigroup Inc. now owns 23,920 shares of the financial services provider valued at $ 963,000 after purchasing an additional 7,971 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in ServisFirst Bancshares during the 4th quarter for a value of approximately $ 25,000. M&T Bank Corp increased its position in ServisFirst Bancshares by 125.8% in the 4th quarter. M&T Bank Corp now owns 16,595 shares of the financial services provider valued at $ 668,000 after purchasing an additional 9,245 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in ServisFirst Bancshares during the 4th quarter for a value of approximately $ 70,000. 57.71% of the shares are currently held by institutional investors and hedge funds.
About ServisFirst Bancshares
ServisFirst Bancshares, Inc is the banking holding company of ServisFirst Bank which provides various banking services to individuals and businesses. The company accepts sight, term, savings and other deposits; checking, money market and IRA accounts; and certificates of deposit. Its loan products include commercial loan products, such as seasonal, bridge and term loans for working capital, business expansion, acquisition of property, 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 finance, deposit-backed loans, and secured and unsecured personal loans.
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