Zacks Investment Research downgrades ServisFirst Bancshares (NASDAQ:SFBS) to hold

ServisFirst Bancshares (NASDAQ:SFBS – Get an assessment) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Friday, Zacks.com reports.

According to Zacks, “ServisFirst Bancshares Inc. is a bank holding company. Through its subsidiary, ServisFirst Bank, it provides financial services to businesses and individuals. It offers various deposit products; commercial lending products; commercial real estate loans, construction and development loans, and residential real estate loans; and consumer loans. ServisFirst Bancshares, Inc. is headquartered in Birmingham, Alabama.”

A number of other equity analysts also commented on SFBS. DA Davidson reduced its price target on ServisFirst Bancshares from $97.00 to $94.00 in a Tuesday, April 19 report. StockNews.com launched coverage on ServisFirst Bancshares in a research report on Thursday, March 31. They issued a “hold” rating on the stock. Five analysts rated the stock with a holding rating. Based on MarketBeat data, ServisFirst Bancshares has an average rating of “Hold” and an average target price of $90.67.

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ServisFirst Bancshares stock opened at $81.93 on Friday. ServisFirst Bancshares has a one-year minimum of $62.78 and a one-year maximum of $97.25. The company has a fifty-day moving average price of $87.98 and a 200-day moving average price of $85.04. The company has a debt ratio of 0.06, a current ratio of 0.94 and a quick ratio of 0.96. The company has a market capitalization of $4.45 billion, a P/E ratio of 20.85 and a beta of 0.99.

ServisFirst Bancshares (NASDAQ:SFBS – Get Rating) released its quarterly results for the last time on Monday, April 18. The financial services provider reported EPS of $1.06 for the quarter, beating the Zacks consensus estimate of $1.05 by $0.01. ServisFirst Bancshares achieved a return on equity of 18.82% and a net margin of 46.29%. During the same period last year, the company earned earnings per share of $0.95. Sell-side analysts expect ServisFirst Bancshares to post earnings per share of 4.51 for the current financial year.

Several hedge funds have recently changed their holdings in SFBS. River Oaks Capital LLC purchased a new equity stake from ServisFirst Bancshares in the fourth quarter valued at $4,723,000. Kayne Anderson Rudnick Investment Management LLC increased its position in ServisFirst Bancshares by 80.5% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,023,527 shares of the financial services provider valued at $157,430,000 after buying an additional 902,170 shares last quarter. Norges Bank purchased a new stake in ServisFirst Bancshares during the fourth quarter worth approximately $33,284,000. BlackRock Inc. increased its position in ServisFirst Bancshares by 2.3% during the fourth quarter. BlackRock Inc. now owns 7,423,879 shares of the financial services provider valued at $630,583,000 after buying an additional 166,071 shares last quarter. Finally, Invesco Ltd. increased its position in ServisFirst Bancshares by 113.8% during the third quarter. Invesco Ltd. now owns 288,123 shares of the financial services provider valued at $22,416,000 after purchasing an additional 153,336 shares last quarter. Institutional investors hold 61.47% of the company’s shares.

About ServisFirst Bancshares (Get an evaluation)

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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