ServisFirst Bancshares, Inc. (NASDAQ:SFBS) announced a quarterly dividend on Monday, June 15th, Zacks reports. Investors of record on Wednesday, July 1st will be paid a dividend of 0.175 per share by the financial services provider on Friday, July 10th. This represents a $0.70 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date of this dividend is Tuesday, June 30th.
ServisFirst Bancshares has a payout ratio of 26.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect ServisFirst Bancshares to earn $2.48 per share next year, which means the company should continue to be able to cover its $0.70 annual dividend with an expected future payout ratio of 28.2%.
Shares of NASDAQ:SFBS opened at $33.01 on Monday. The stock has a market capitalization of $1.78 billion, a PE ratio of 12.00 and a beta of 1.29. ServisFirst Bancshares has a 1 year low of $21.76 and a 1 year high of $40.90. The firm has a fifty day moving average price of $34.22 and a 200 day moving average price of $34.53. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.07.
A number of research analysts have weighed in on the stock. Zacks Investment Research raised shares of ServisFirst Bancshares from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research report on Wednesday, June 24th. ValuEngine lowered shares of ServisFirst Bancshares from a “hold” rating to a “sell” rating in a research report on Friday, May 1st. Finally, BidaskClub lowered shares of ServisFirst Bancshares from a “hold” rating to a “sell” rating in a research report on Friday, June 12th.
In other ServisFirst Bancshares news, CEO W Bibb Lamar, Jr. sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $36.00, for a total value of $360,000.00. Following the transaction, the chief executive officer now directly owns 78,808 shares of the company’s stock, valued at $2,837,088. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Andrew N. Kattos sold 13,754 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $36.61, for a total transaction of $503,533.94. Following the completion of the transaction, the chief executive officer now directly owns 106,080 shares in the company, valued at $3,883,588.80. The disclosure for this sale can be found here. Corporate insiders own 10.47% of the company’s stock.
ServisFirst Bancshares Company Profile
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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