Metropolitan Life Insurance Co. NY boosted its position in shares of ServisFirst Bancshares, Inc. (NASDAQ:SFBS) by 74.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,780 shares of the financial services provider’s stock after buying an additional 13,121 shares during the period. Metropolitan Life Insurance Co. NY owned approximately 0.06% of ServisFirst Bancshares worth $1,152,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of SFBS. BlackRock Fund Advisors raised its stake in shares of ServisFirst Bancshares by 7.7% in the third quarter. BlackRock Fund Advisors now owns 1,512,625 shares of the financial services provider’s stock worth $78,520,000 after buying an additional 108,670 shares in the last quarter. FMR LLC purchased a new stake in shares of ServisFirst Bancshares during the fourth quarter worth approximately $44,082,000. State Street Corp raised its stake in shares of ServisFirst Bancshares by 127.6% in the fourth quarter. State Street Corp now owns 1,166,500 shares of the financial services provider’s stock worth $43,668,000 after buying an additional 653,980 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of ServisFirst Bancshares by 116.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 800,599 shares of the financial services provider’s stock worth $29,974,000 after buying an additional 430,837 shares in the last quarter. Finally, Peregrine Capital Management LLC purchased a new stake in shares of ServisFirst Bancshares during the third quarter worth approximately $16,567,000. Hedge funds and other institutional investors own 19.15% of the company’s stock.
ServisFirst Bancshares, Inc. (NASDAQ:SFBS) opened at 35.66 on Friday. ServisFirst Bancshares, Inc. has a one year low of $20.45 and a one year high of $42.66. The firm has a 50-day moving average price of $40.43 and a 200-day moving average price of $34.09. The firm has a market capitalization of $1.88 billion, a P/E ratio of 23.46 and a beta of 1.45.
ServisFirst Bancshares (NASDAQ:SFBS) last posted its quarterly earnings results on Monday, January 30th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.03. ServisFirst Bancshares had a return on equity of 15.91% and a net margin of 34.23%. Equities analysts anticipate that ServisFirst Bancshares, Inc. will post $1.66 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, April 14th. Shareholders of record on Tuesday, April 4th will be given a $0.05 dividend. The ex-dividend date is Friday, March 31st. This represents a $0.20 dividend on an annualized basis and a yield of 0.56%. This is a positive change from ServisFirst Bancshares’s previous quarterly dividend of $0.04. ServisFirst Bancshares’s dividend payout ratio (DPR) is currently 10.85%.
A number of equities research analysts recently commented on SFBS shares. Hovde Group upped their target price on ServisFirst Bancshares from $31.50 to $37.00 and gave the company an “underperform” rating in a research report on Tuesday, January 31st. Zacks Investment Research upgraded ServisFirst Bancshares from a “hold” rating to a “buy” rating and set a $81.00 target price on the stock in a research report on Tuesday, December 20th.
In other ServisFirst Bancshares news, CFO William M. Foshee sold 30,000 shares of the stock in a transaction dated Thursday, February 23rd. The stock was sold at an average price of $42.06, for a total value of $1,261,800.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Michael D. Fuller purchased 2,500 shares of ServisFirst Bancshares stock in a transaction on Friday, March 17th. The stock was bought at an average cost of $39.35 per share, for a total transaction of $98,375.00. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 41,268 shares of company stock worth $1,723,826 and sold 102,102 shares worth $4,259,654. 14.28% of the stock is owned by company insiders.
About ServisFirst Bancshares
ServisFirst Bancshares, Inc is a bank holding company. The Company, through its subsidiary, ServisFirst Bank (the Bank), operates approximately 18 banking offices. Through its bank, the Company originates commercial, consumer and other loans and accepts deposits, provides electronic banking services, such as online and mobile banking, including remote deposit capture, delivers treasury and cash management services, and provides correspondent banking services to other financial institutions.
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