Stonegate Investment Group LLC Sells 257 Shares of ServisFirst Bancshares, Inc. (NASDAQ:SFBS)

Stonegate Investment Group LLC lowered its position in ServisFirst Bancshares, Inc. (NASDAQ:SFBS) by 0.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 52,028 shares of the financial services provider’s stock after selling 257 shares during the period. Stonegate Investment Group LLC owned 0.10% of ServisFirst Bancshares worth $3,453,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of ServisFirst Bancshares during the 4th quarter valued at $36,103,000. Norden Group LLC increased its position in ServisFirst Bancshares by 2,663.4% during the first quarter. Norden Group LLC now owns 266,665 shares of the financial services provider’s stock worth $17,696,000 after buying an additional 257,015 shares during the last quarter. American Century Companies Inc. raised its holdings in ServisFirst Bancshares by 68.0% during the third quarter. American Century Companies Inc. now owns 164,914 shares of the financial services provider’s stock valued at $8,604,000 after buying an additional 66,728 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of ServisFirst Bancshares by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 5,478,138 shares of the financial services provider’s stock worth $365,008,000 after buying an additional 47,885 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of ServisFirst Bancshares by 4.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,136,579 shares of the financial services provider’s stock worth $75,736,000 after buying an additional 47,457 shares during the last quarter. Institutional investors own 67.31% of the company’s stock.

ServisFirst Bancshares Stock Performance

Shares of NASDAQ:SFBS traded down $0.28 during midday trading on Tuesday, hitting $59.02. The company’s stock had a trading volume of 174,659 shares, compared to its average volume of 185,521. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.93 and a current ratio of 0.94. The stock’s 50 day simple moving average is $62.57 and its 200 day simple moving average is $59.77. The stock has a market capitalization of $3.22 billion, a price-to-earnings ratio of 16.17 and a beta of 0.88. ServisFirst Bancshares, Inc. has a fifty-two week low of $39.27 and a fifty-two week high of $70.84.

ServisFirst Bancshares (NASDAQ:SFBS) last announced its earnings results on Monday, January 29th. The financial services provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.04. The firm had revenue of $109.07 million during the quarter, compared to the consensus estimate of $107.00 million. ServisFirst Bancshares had a return on equity of 14.65% and a net margin of 22.31%. As a group, research analysts anticipate that ServisFirst Bancshares, Inc. will post 3.75 earnings per share for the current year.

ServisFirst Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 9th. Stockholders of record on Monday, April 1st were given a $0.30 dividend. The ex-dividend date was Thursday, March 28th. This represents a $1.20 annualized dividend and a dividend yield of 2.03%. ServisFirst Bancshares’s dividend payout ratio is 32.88%.

Analyst Ratings Changes

SFBS has been the subject of several analyst reports. StockNews.com upgraded ServisFirst Bancshares to a “sell” rating in a report on Tuesday, January 23rd. Piper Sandler boosted their price objective on shares of ServisFirst Bancshares from $55.00 to $64.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 30th.

ServisFirst Bancshares Company Profile

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.