Hovde upgrades ServisFirst Bancshares to 'outperform'

Shares of regional lender ServisFirst Bancshares SFBS.N rise 2.75% to $75.02 in early trading

Hovde Group upgrades SFBS to "outperform" from "market perform" citing its expansion into Texas is a catalyst for stronger loan growth, better long‑term profitability

Brokerage adds SFBS's hiring of a senior commercial‑banking team in Houston positions it to capture growth amid merger‑driven disruption in the Texas market

Hovde also raised PT to $89 from $85, a 21.9% upside from its last close

SFBS's steep underperformance versus the regional‑bank index KRE.P leaves room for performance to normalize, brokerage says

2 of 3 analysts rate the stock "buy", 1 "hold"; median PT $89 - data compiled by LSEG

As of last close, SFBS down 13.84% YTD vs KRE +11.81% YTD