ServisFirst Bancshares (NASDAQ:SFBS) Downgraded by BidaskClub

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BidaskClub cut shares of ServisFirst Bancshares (NASDAQ:SFBS) from a sell rating to a strong sell rating in a report issued on Saturday morning, BidAskClub reports.

Other research analysts have also issued research reports about the company. ValuEngine upgraded ServisFirst Bancshares from a strong sell rating to a sell rating in a report on Monday, August 3rd. Zacks Investment Research upgraded ServisFirst Bancshares from a hold rating to a buy rating and set a $40.00 target price on the stock in a report on Wednesday, June 24th.

Shares of NASDAQ:SFBS opened at $35.72 on Friday. The business’s 50 day simple moving average is $37.31 and its two-hundred day simple moving average is $33.78. The firm has a market cap of $1.92 billion, a P/E ratio of 12.58 and a beta of 1.26. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.98 and a current ratio of 0.98. ServisFirst Bancshares has a 52-week low of $21.76 and a 52-week high of $40.90.

ServisFirst Bancshares (NASDAQ:SFBS) last announced its quarterly earnings results on Monday, July 20th. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.05. The business had revenue of $90.27 million for the quarter, compared to analyst estimates of $100.51 million. ServisFirst Bancshares had a return on equity of 17.69% and a net margin of 36.79%. On average, equities analysts forecast that ServisFirst Bancshares will post 2.81 earnings per share for the current fiscal year.

In related news, Director J. Richard Cashio sold 3,600 shares of ServisFirst Bancshares stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $39.18, for a total transaction of $141,048.00. Also, CFO William M. Foshee sold 6,700 shares of ServisFirst Bancshares stock in a transaction on Thursday, July 23rd. The stock was sold at an average price of $37.49, for a total value of $251,183.00. Following the sale, the chief financial officer now owns 319,130 shares in the company, valued at $11,964,183.70. The disclosure for this sale can be found here. Insiders sold 20,194 shares of company stock worth $773,794 in the last 90 days. Corporate insiders own 10.47% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Parametric Portfolio Associates LLC lifted its holdings in ServisFirst Bancshares by 85.9% during the first quarter. Parametric Portfolio Associates LLC now owns 87,578 shares of the financial services provider’s stock worth $2,568,000 after acquiring an additional 40,462 shares during the period. Nuveen Asset Management LLC lifted its holdings in ServisFirst Bancshares by 12.3% during the first quarter. Nuveen Asset Management LLC now owns 255,005 shares of the financial services provider’s stock worth $7,477,000 after acquiring an additional 27,895 shares during the period. Comerica Bank lifted its holdings in ServisFirst Bancshares by 21.6% during the second quarter. Comerica Bank now owns 103,955 shares of the financial services provider’s stock worth $3,848,000 after acquiring an additional 18,468 shares during the period. Wells Fargo & Company MN increased its position in ServisFirst Bancshares by 20.5% in the first quarter. Wells Fargo & Company MN now owns 106,250 shares of the financial services provider’s stock worth $3,115,000 after buying an additional 18,051 shares during the last quarter. Finally, Wedge Capital Management L L P NC increased its position in ServisFirst Bancshares by 38.1% in the second quarter. Wedge Capital Management L L P NC now owns 202,686 shares of the financial services provider’s stock worth $7,248,000 after buying an additional 55,880 shares during the last quarter. Institutional investors and hedge funds own 54.72% of the company’s stock.

About ServisFirst Bancshares

ServisFirst Bancshares, Inc operates as the bank holding company for ServisFirst Bank that provides banking services to individual and corporate customers in the United States. It offers demand, time, savings, and other deposits; checking, money market, and IRA accounts; and certificates of deposit. The company also provides commercial lending products, such as seasonal loans, bridge loans, and term loans for working capital, expansion of the business, or 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, loans secured by deposits, and secured and unsecured personal loans.

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