ServisFirst Bancshares soars after strong Q2 loan growth

ServisFirst Bancshares

16/07/2024 19:32

** Shares of lender ServisFirst Bancshares  SFBS.N  jump as
much as 15%, last up 13.6% at $80.50
    ** Late on Monday, SFBS posted Q2 adjusted profit of 95
cents/shr, beating analysts' expectation of 91 cents/shr - LSEG
    ** SFBS saw strong loan and deposit growth in the quarter
    ** Loans grew 6% to $12.33 bln, while deposits shot up 8% to
$13.26 bln compared to last year
    ** Raymond James analysts say the loan growth was stronger
than expected as the loan pipeline continues to improve
    ** They add that SFBS' net interest margin, a key measure of
lending profitability, is likely to continue to expand as
deposits costs stabilize
    ** Including session moves, SFBS up 22% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))