ServisFirst Bancshares, Inc. (NASDAQ:SFBS) to Issue $0.18 Quarterly Dividend

ServisFirst Bancshares, Inc. (NASDAQ:SFBS) declared a quarterly dividend on Monday, June 15th, Zacks reports. Shareholders of record on Wednesday, July 1st will be given a dividend of 0.175 per share by the financial services provider on Friday, July 10th. This represents a $0.70 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend is Tuesday, June 30th.

ServisFirst Bancshares has a payout ratio of 26.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect ServisFirst Bancshares to earn $2.48 per share next year, which means the company should continue to be able to cover its $0.70 annual dividend with an expected future payout ratio of 28.2%.

SFBS opened at $33.01 on Monday. The firm has a market cap of $1.78 billion, a P/E ratio of 12.00 and a beta of 1.29. The firm has a 50-day moving average of $34.22 and a 200 day moving average of $34.53. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.98 and a current ratio of 0.98. ServisFirst Bancshares has a fifty-two week low of $21.76 and a fifty-two week high of $40.90.

ServisFirst Bancshares (NASDAQ:SFBS) last issued its quarterly earnings results on Monday, April 20th. The financial services provider reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.01. The business had revenue of $84.31 million for the quarter, compared to analysts’ expectations of $83.10 million. ServisFirst Bancshares had a net margin of 35.51% and a return on equity of 17.83%. Equities research analysts predict that ServisFirst Bancshares will post 2.76 earnings per share for the current fiscal year.

In related news, CEO Andrew N. Kattos sold 13,754 shares of ServisFirst Bancshares stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $36.61, for a total transaction of $503,533.94. Following the transaction, the chief executive officer now owns 106,080 shares in the company, valued at $3,883,588.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO W Bibb Lamar, Jr. sold 10,000 shares of ServisFirst Bancshares stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $36.00, for a total value of $360,000.00. Following the completion of the sale, the chief executive officer now owns 78,808 shares in the company, valued at approximately $2,837,088. The disclosure for this sale can be found here. 10.47% of the stock is owned by company insiders.

A number of research firms have issued reports on SFBS. ValuEngine downgraded ServisFirst Bancshares from a “hold” rating to a “sell” rating in a research note on Friday, May 1st. BidaskClub cut ServisFirst Bancshares from a “hold” rating to a “sell” rating in a report on Friday, June 12th. Finally, Zacks Investment Research raised ServisFirst Bancshares from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a report on Wednesday, June 24th.

ServisFirst Bancshares Company Profile

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 certificates of deposit. The company also provides commercial lending products, such as seasonal loans, bridge loans, and term loans for working capital, expansion of the business, or 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 financing, loans secured by deposits, and secured and unsecured personal loans.

Further Reading: Trade Deficit

Dividend History for ServisFirst Bancshares (NASDAQ:SFBS)

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