ServisFirst Bancshares (NYSE:SFBS) Posts Earnings Results, Beats Estimates By $0.13 EPS

by · The Cerbat Gem

ServisFirst Bancshares (NYSE:SFBS – Get Free Report) announced its quarterly earnings data on Monday. The financial services provider reported $1.10 EPS for the quarter, beating the consensus estimate of $0.97 by $0.13, Yahoo Finance reports. The business had revenue of $256.53 million during the quarter, compared to analyst estimates of $120.70 million. ServisFirst Bancshares had a return on equity of 14.19% and a net margin of 21.25%. During the same quarter last year, the firm posted $0.98 earnings per share.

ServisFirst Bancshares Stock Performance

NYSE:SFBS traded down $0.29 during trading hours on Wednesday, reaching $84.18. The company had a trading volume of 186,415 shares, compared to its average volume of 198,927. The firm has a market cap of $4.59 billion, a price-to-earnings ratio of 23.18 and a beta of 0.86. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.04. The firm’s 50 day moving average price is $79.99 and its 200-day moving average price is $70.51. ServisFirst Bancshares has a 52 week low of $45.21 and a 52 week high of $88.86.

ServisFirst Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Tuesday, October 1st were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $1.20 dividend on an annualized basis and a yield of 1.43%. ServisFirst Bancshares’s dividend payout ratio (DPR) is 33.15%.

Insider Activity

In other ServisFirst Bancshares news, COO Rodney Eldon Rushing sold 12,000 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $80.58, for a total value of $966,960.00. Following the transaction, the chief operating officer now directly owns 307,837 shares of the company’s stock, valued at approximately $24,805,505.46. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 7.40% of the company’s stock.

Analyst Ratings Changes

SFBS has been the subject of a number of recent research reports. Piper Sandler lifted their price target on shares of ServisFirst Bancshares from $76.00 to $79.00 and gave the company a “neutral” rating in a research report on Tuesday. Hovde Group boosted their price objective on shares of ServisFirst Bancshares from $80.00 to $91.00 and gave the stock a “market perform” rating in a report on Tuesday.

Read Our Latest Analysis on SFBS

About ServisFirst Bancshares

(Get Free Report)

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.

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