ServisFirst Bancshares, Inc. (NASDAQ:SFBS) Declares Quarterly Dividend of $0.23
ServisFirst Bancshares, Inc. (NASDAQ:SFBS – Get a rating) announced a quarterly dividend on Thursday, June 23, the wall street journal reports. Shareholders of record on Friday July 1 will receive a dividend of 0.23 per share from the financial services provider on Friday July 8. This represents a dividend of $0.92 on an annualized basis and a yield of 1.22%. The ex-dividend date is Thursday, June 30.
NASDAQ:SFBS shares fell $0.96 on Thursday, hitting $75.59. The company had a trading volume of 140,777 shares, compared to an average volume of 190,576. ServisFirst Bancshares has a 52-week low of $63.28 and a 52-week high of $97.25. The company’s 50-day simple moving average is $80.84 and its 200-day simple moving average is $84.64. The company has a market capitalization of $4.10 billion, a PE ratio of 19.08 and a beta of 1.05. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt ratio of 0.06.
ServisFirst Bancshares (NASDAQ:SFBS – Get a rating) last announced its quarterly results on Monday, April 18. The financial services provider reported earnings per share (EPS) of $0.99 for the quarter, missing analyst consensus estimates of $1.06 per ($0.07). ServisFirst Bancshares posted a net margin of 46.29% and a return on equity of 18.82%. The company posted revenue of $113.67 million in the quarter, compared to $110.86 million expected by analysts. In the same quarter a year earlier, the company posted earnings of $0.95 per share. As a group, equity research analysts expect ServisFirst Bancshares to post 4.38 earnings per share for the current year.
SFBS has been the subject of several research analyst reports. DA Davidson lowered its price target on ServisFirst Bancshares from $97.00 to $94.00 in a Tuesday, April 19 research note. StockNews.com launched coverage on ServisFirst Bancshares in a research note on Thursday, March 31. They have set a “holding” rating on the stock.
In other ServisFirst Bancshares news, Director J. Richard Cashio sold 1,454 shares of the company in a transaction on Monday, June 6. The shares were sold at an average price of $82.13, for a total transaction of $119,417.02. Following completion of the transaction, the administrator now directly owns 448,045 shares of the company, valued at $36,797,935.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, accessible via this hyperlink. Also, CEO Thomas A. Broughton purchased 1,000 shares of the company in a trade dated Friday, June 10. The stock was purchased at an average price of $76.23 per share, for a total transaction of $76,230.00. As a result of the transaction, the CEO now owns 251,530 shares of the company, valued at $19,174,131.90. Disclosure of this purchase can be found here. 8.31% of the shares are held by insiders.
A number of hedge funds have recently changed their positions in the business. State Street Corp increased its stake in ServisFirst Bancshares by 6.9% in the first quarter. State Street Corp now owns 1,901,000 shares of the financial services provider worth $181,578,000 after purchasing an additional 121,916 shares during the period. Vanguard Group Inc. increased its stake in ServisFirst Bancshares shares by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 5,231,794 shares of the financial services provider valued at $498,537,000 after purchasing an additional 40,095 shares during the period. Federated Hermes Inc. increased its stake in ServisFirst Bancshares by 234,035.3% during the 1st quarter. Federated Hermes Inc. now owns 39,803 shares of the financial services provider worth $3,793,000 after acquiring 39,786 additional shares in the last quarter. Neuberger Berman Group LLC increased its stake in ServisFirst Bancshares by 419.1% in the 1st quarter. Neuberger Berman Group LLC now owns 27,176 shares of the financial services provider valued at $2,589,000 after acquiring an additional 21,941 shares during the period. Finally, MetLife Investment Management LLC increased its stake in ServisFirst Bancshares by 54.0% during the first quarter. MetLife Investment Management LLC now owns 26,637 shares of the financial services provider worth $2,538,000 after purchasing an additional 9,335 shares during the period. Institutional investors hold 62.48% of the company’s shares.
About ServisFirst Bancshares (Get a rating)
ServisFirst Bancshares, Inc operates as a bank holding company for ServisFirst Bank which provides various retail and corporate banking services. 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 loan products, such as seasonal, bridging 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 financing, deposit-backed loans, and secured and unsecured personal loans.
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