ServisFirst (SFBS) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates

Core Insights - ServisFirst Bancshares reported revenue of $114.77 million for the quarter ended June 2024, reflecting a year-over-year increase of 4.5% [5] - The company achieved an EPS of $0.95, slightly down from $0.98 a year ago, with a surprise of +4.40% compared to the consensus estimate of $0.91 [5][1] - The stock has returned +15.7% over the past month, outperforming the Zacks S&P 500 composite's +3.8% change, but currently holds a Zacks Rank 4 (Sell) indicating potential underperformance in the near term [4] Financial Metrics - Efficiency Ratio stood at 37.3%, better than the average estimate of 40% based on two analysts [3] - Net Interest Margin was reported at 2.8%, slightly above the average estimate of 2.7% [3] - Average Balance of Interest-earning Assets was $15.24 billion, below the average estimate of $15.78 billion [3] - Net Interest Income was $105.88 million, compared to the average estimate of $106.99 million [3] - Total Non-interest income reached $8.89 million, exceeding the average estimate of $7.83 million [3] - Mortgage banking income was $1.38 million, significantly higher than the average estimate of $0.83 million [3] - Service charges on deposit accounts were $2.29 million, slightly above the average estimate of $2.20 million [3] - Credit card income was reported at $2.33 million, marginally higher than the average estimate of $2.29 million [3] - Increase in cash surrender value life insurance income was $2.06 million, surpassing the average estimate of $1.79 million [3]