ServisFirst Bancshares, Inc. (SFBS) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. grew its holdings in shares of ServisFirst Bancshares, Inc. (NASDAQ:SFBS) by 3.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 372,066 shares of the financial services provider’s stock after acquiring an additional 11,805 shares during the quarter. Principal Financial Group Inc. owned 0.70% of ServisFirst Bancshares worth $13,726,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fisher Asset Management LLC raised its stake in ServisFirst Bancshares by 32.0% during the second quarter. Fisher Asset Management LLC now owns 136,074 shares of the financial services provider’s stock worth $5,020,000 after acquiring an additional 32,957 shares in the last quarter. Welch Group LLC raised its stake in ServisFirst Bancshares by 38.4% during the second quarter. Welch Group LLC now owns 207,771 shares of the financial services provider’s stock worth $7,665,000 after acquiring an additional 57,629 shares in the last quarter. LS Investment Advisors LLC raised its stake in ServisFirst Bancshares by 121.6% during the first quarter. LS Investment Advisors LLC now owns 3,700 shares of the financial services provider’s stock worth $135,000 after acquiring an additional 2,030 shares in the last quarter. Bank of Montreal Can raised its stake in ServisFirst Bancshares by 256.0% during the first quarter. Bank of Montreal Can now owns 3,204 shares of the financial services provider’s stock worth $117,000 after acquiring an additional 2,304 shares in the last quarter. Finally, BlackRock Inc. raised its stake in ServisFirst Bancshares by 146,046.5% during the first quarter. BlackRock Inc. now owns 5,451,265 shares of the financial services provider’s stock worth $198,318,000 after acquiring an additional 5,447,535 shares in the last quarter. 42.55% of the stock is owned by hedge funds and other institutional investors.

ServisFirst Bancshares, Inc. (SFBS) opened at 36.25 on Thursday. The stock has a 50 day moving average price of $34.55 and a 200 day moving average price of $36.23. The firm has a market cap of $1.92 billion, a P/E ratio of 21.97 and a beta of 1.40. ServisFirst Bancshares, Inc. has a 1-year low of $25.00 and a 1-year high of $42.66.

ServisFirst Bancshares (NASDAQ:SFBS) last issued its quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.02. The firm had revenue of $60.37 million during the quarter, compared to the consensus estimate of $60.33 million. ServisFirst Bancshares had a return on equity of 16.67% and a net margin of 35.15%. On average, analysts anticipate that ServisFirst Bancshares, Inc. will post $1.80 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Monday, October 2nd will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Friday, September 29th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.55%. ServisFirst Bancshares’s dividend payout ratio (DPR) is presently 12.05%.

TRADEMARK VIOLATION NOTICE: This piece of content was first posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this piece of content on another domain, it was illegally stolen and reposted in violation of international copyright and trademark laws. The original version of this piece of content can be read at https://ledgergazette.com/2017/09/21/servisfirst-bancshares-inc-sfbs-shares-bought-by-principal-financial-group-inc.html.

SFBS has been the subject of several research analyst reports. Zacks Investment Research raised ServisFirst Bancshares from a “sell” rating to a “buy” rating and set a $38.00 target price for the company in a research note on Friday, August 25th. Stephens reissued a “hold” rating and set a $38.00 target price on shares of ServisFirst Bancshares in a research note on Wednesday, July 19th. Finally, BidaskClub downgraded ServisFirst Bancshares from a “sell” rating to a “strong sell” rating in a research note on Wednesday, June 28th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $37.67.

In related news, EVP Rex D. Mckinney sold 75,000 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $33.55, for a total value of $2,516,250.00. Following the completion of the sale, the executive vice president now owns 105,340 shares in the company, valued at approximately $3,534,157. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Bradford Alan Vieira sold 3,750 shares of the business’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $34.38, for a total value of $128,925.00. Following the completion of the sale, the executive vice president now owns 33,750 shares of the company’s stock, valued at approximately $1,160,325. The disclosure for this sale can be found here. Insiders own 14.04% of the company’s stock.

About ServisFirst Bancshares

ServisFirst Bancshares, Inc is a bank holding company whose business is conducted by its subsidiary, ServisFirst Bank (the Bank). The Company’s principal business is to accept deposits from the public and to make loans and other investments. The Company, through its bank, originates commercial, consumer and other loans; accept deposits; provides electronic banking services, such as online and mobile banking, including remote deposit capture, deliver treasury and cash management services, and provides correspondent banking services to other financial institutions.

Institutional Ownership by Quarter for ServisFirst Bancshares (NASDAQ:SFBS)

Receive News & Ratings for ServisFirst Bancshares Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ServisFirst Bancshares Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply