Servisfirst Bancshares Inc (SFBS)

Shares of Servisfirst Bancshares (SFBS) dropped by 4.82% from $52.87 to $50.32 in the trading on Tuesday, October 17, 2023. The reason why SFBS stock down is due to its mixed Q3 earings released on October 16:

• While SFBS reported earnings of 98 cents per share, beating the analyst consensus estimate of 95 cents, it marked a 19.67% drop from the previous year.
• Quarterly sales of $107.83 million missed the analyst consensus estimate of $109.98 million and represented a 20.33% decrease compared to the same period last year.
• SFBS noted a positive development in its loan portfolio, with loans growing by $362.5 million since Q3 2022, and an improving loan pipeline was highlighted as well.