ServisFirst price target raised to $70 from $63 at Piper Sandler

Piper Sandler analyst Graham Dick raised the firm’s price target on ServisFirst to $70 from $63 and keeps a Neutral rating on the shares. The firm notes EPS of 95c beat out estimate by 6c driven by a lower-than-expected provision and lower non-interest expense. The net interest margin rose more than expected, increasing 13 bps quarter-over-quarter while average loans grew more than expected at 11% LQA, Piper adds.