ServisFirst Bancshares (SFBS) PT Raised to $79 at Piper Sandler

Piper Sandler analyst Stephen Scouten raised the price target on ServisFirst Bancshares (NYSE: SFBS) to $79.00 (from $76.00) while maintaining a Neutral rating.

The analyst commented, "We are increasing our 2024E to $4.05 (from $3.73) on the 3Q beat and expectations of lower expenses with continued NII growth. We are also increasing our 2025E to $4.62 (from $4.43) on the same phenomenon. Our new 2026E is $5.25 and suggests 12% NII growth in 2026 on continued NIM expansion and strong loan growth. We are increasing our PT to $79 - still using the same 16x P/E on our 2025E + $/S credit for excess capital. The shares remain expensive on earnings, but we don't see anything looming to derail the current valuation paradigm."

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