Piper upgrades ServisFirst to Overweight on Q4 beat, better growth trends

As previously reported, Piper Sandler analyst Stephen Scouten upgraded ServisFirst (SFBS) to Overweight from Neutral with a price target of $89, up from $80, following quarterly results. The firm notes that the strength of the quarter came on the 11.6% EOP loan growth and the 29 bps of net interest margin expansion, aided significantly by lower deposit costs quarter-over-quarter. Piper cites greater upside for this strong profitability, growth, and continued geographic expansion story for the upgrade.