ServisFirst Bancshares COO Sells More Than $4.6M in Company Shares To Investing.com

Rodney Eldon Rushing, Chief Operating Officer and Executive Vice President of ServisFirst Bancshares, Inc. (NASDAQ:NYSE: ), recently sold a significant amount of the company’s stock, according to the latest filings. The transactions, which took place on September 18th and 19th, amounted to a total value of $4,643,120.

Rushing sold 12,000 shares at an average price of $80.58 in the first day and another 4,500 shares in the next day at an average price of $84.48. The sales didn’t stop there; went on to sell 24,000 and 16,000 shares at average prices of $80.96 and $84.56, respectively. The price range for these trades was between $80.54 and $84.73, with the exact number of shares sold at each price available upon request.

Following these transactions, Rushing still owns a substantial number of shares in the company, with direct ownership of 303,337 shares and indirect ownership of 60,000 shares through a trust benefiting his daughters. It is also noted that the prices reported are weighted averages, as sales were made in several transactions at different prices during the ranges mentioned.

Investors often watch insider trades because they can provide insight into executives’ perspectives on the company’s current valuation and future prospects. Rushing’s recent sales represent a notable shift in its investment position, though the remaining significant stake indicates continued alignment with the company’s success.

ServisFirst Bancshares, Inc., headquartered in Birmingham, Alabama, is a banking services provider known for its commercial banking operations. The company’s stock performance and insider trading are closely monitored by investors who want to understand market trends and the potential impact on their investments.

In other recent news, ServisFirst Bancshares showed robust growth in the second quarter with significant increases in deposits and loans. Piper Sandler raised its price target on the bank to $70.00, up from $63.00 previously, following the bank’s strong Q2 results. The earnings report showed earnings per share of $0.95, beating expectations by $0.06, mainly due to a lower provision for loan losses and lower non-interest expense.

In addition, ServisFirst Bancshares’ net interest margin experienced notable growth, increasing 13 basis points quarter over quarter. The bank’s balance sheet reflected healthy growth, with loans and deposits both up 15.2% and 15.9% respectively on an annualized basis last quarter. The loan/deposit ratio remained relatively stable at 93%.

These developments led Piper Sandler to maintain its neutral position on the bank’s shares. In addition, the bank hired 14 new bankers and expanded its correspondent banking services, pointing to a positive trajectory for the rest of the year. Despite the slowdown in deposit growth, ServisFirst Bancshares remains bullish on its performance for the rest of the year.

InvestingPro Insights

As investors digest news of Rodney Eldon Rushing’s recent share sales at ServisFirst Bancshares, Inc. (NASDAQ:SFBS), it is essential to consider current market data and analysis from InvestingPro to gain a fuller understanding of the company’s financial health and performance.

InvestingPro Data shows that ServisFirst Bancshares has a market cap of $4.62B and trades at a price-to-earnings (P/E) ratio of 23.24, which has slightly increased to 23.79 over the trailing twelve months from 2024Q2. This valuation comes on the back of a 7.06% revenue decline over the same period, contrasted with a quarterly revenue growth of 6.96% in Q2 2024. Despite the revenue decline, the company maintained a robust operating income margin of 61.78%.

InvestingPro Tips highlights two key points for investors to consider:

1. ServisFirst has demonstrated a commitment to shareholder returns by increasing dividends for 10 consecutive years, indicating a reliable income stream for investors.

2. The company has seen a significant return over the past week, with a total price return of 7.85%, which is part of a broader pattern of high returns over the past year, totaling 74.33%.

These metrics and trends underscore the company’s financial strength and potential for continued growth. Investors seeking additional information can find additional advice on ServisFirst Bancshares at https://www.investing.com/pro/SFBS, where 12 other InvestingPro tips are available to help guide investment decisions.

Recent sales may raise questions, but with the company trading near a 52-week high and analysts predicting profitability this year, ServisFirst Bancshares presents a nuanced picture for current and potential shareholders. Continued dividend payouts and positive company performance metrics suggest that, despite internal transactions, ServisFirst remains a compelling consideration for investors’ portfolios.

This article was generated with support from AI and reviewed by an editor. For more information, see T&C.