Vestmark Advisory Solutions Increases Its Ownership Of ServisFirst Bancshares And Outperforms Forecasts For Earnings
Vestmark Advisory Solutions Increases Its Ownership Of ServisFirst Bancshares: Vestmark Advisory Solutions Inc., a financial services firm listed on the NASDAQ exchange under the ticker SFBS, has dramatically grown its position in ServisFirst Bancshares, Inc. as of this year’s first quarter.
A recent 13F filing by Vestmark with the Securities and Exchange Commission (SEC) shows that the company currently holds 7,533 shares of SFBS stock, a 40.5% increase from the prior quarter. During this time, 2,170 shares were bought, which is how the extra shares were obtained. Vestmark had $412,000 worth of ServisFirst Bancshares at the conclusion of the first quarter.
In more ServisFirst Bancshares news, the firm reported impressive earnings per share (EPS) of $0.98 for the quarter when it released its quarterly earnings results on July 20. This showed the financial services firm had an excellent performance because it beat analysts’ consensus projections by $0.09.
Also impressive were ServisFirst Bancshares’ 33.71% net margin and 18.55% return on equity. Additionally, the company revealed total sales for the quarter of $109.83 million, exceeding analysts’ predictions of $105.50 million.
According to sell-side analysts’ analysis, ServisFirst Bancshares is expected to have profits per share of about $3.90 for the current year.
For more information on SFBS, investors and market participants should consult our most recent analysis.
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Please be aware that this article was prepared on August 18th and that it contains information that was current at that time regarding the growth in Vestmark Advisory Solutions Inc.’s ownership of ServisFirst Bancshares and the company’s quarterly financial results.
A Potential Investment With Growing Institutional Interest Is ServisFirst Bancshares
In recent months, ServisFirst Bancshares (NASDAQ: SFBS) shares have been actively bought and sold by institutional investors and hedge funds, indicating a level of interest in the financial services company. During the first quarter, Advisor Group Holdings Inc.
significantly expanded its holdings in ServisFirst Bancshares by an astounding 110.2%; it now holds 2,457 shares worth $253,000. As of the first quarter, Citigroup Inc. witnessed an increase in its holdings, with 46,132 shares valued at $4,396,000.
The holdings of Natixis Advisors L.P. and MetLife Investment Management LLC both saw rises of 25.1% and 54.0%, respectively. 14,852 shares owned by Natixis Advisors are valued at $1,415,000, while 26,637 shares owned by MetLife Investment Management are at $2,538,000.
Even Rhumbline Advisers had a slight increase in holdings, adding 6,577 more shares during the most recent quarter, bringing their total to 122,234 shares worth roughly $11,648,000.
It’s interesting to note that institutional investors own a sizable portion of the stock—roughly 66.48%. This shows how much faith and confidence these organizations have in ServisFirst Bancshares.
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On August 18, ServisFirst Bancshares shares began trading on NASDAQ at $58.15 and had a $3.16 billion market cap. Performance levels for the company have ranged from a year low of $39.27 to a year high of $93.18.
The debt-to-equity ratio for ServisFirst Bancshares is 0.05, while the quick and current ratios are both 0.92. These numbers show the company’s financial soundness as it navigates the market.
ServisFirst Bancshares has a price-to-earnings ratio (P/E) of 13.00 and a beta value of 0.90 when it comes to valuation metrics like these. The former indicates that the stock is less volatile than the market as a whole, while the latter indicates that the market values the company’s earnings at this level.
Noteworthy is the recent announcement of a quarterly dividend payment by ServisFirst Bancshares, which speaks well of the company’s financial standing. Investors received a dividend of $0.28 per share on July 10. This equals a yield of 1.93% when the annualized dividend is taken into account. However, it is important to note that the dividend payout ratio for ServisFirst Bancshares is currently 25.17%.
In recent reports, a number of equities research analysts offered their perspectives on ServisFirst Bancshares. In their analysis on July 21st, Piper Sandler increased its target price from $46.00 to $49.00, demonstrating confidence in the stock’s potential growth.
In its analysis on June 26th, StockNews.com upgraded ServisFirst Bancshares to a “sell” rating, expressing confidence in the company’s performance and future.
TheStreet’s decision to raise ServisFirst Bancshares’ rating from “c+” to “b-” on August 9th reflects its decision to be more optimistic about the company’s operations.
Overall, it seems that institutional investors and hedge funds are actively interested in buying shares of ServisFirst Bancshares because they are aware of the company’s potential for stability and growth in the financial services industry. It will be interesting to watch how ServisFirst Bancshares develops going forward with rising holdings and favorable evaluations from respectable analysts.