SVB Financial Group (NASDAQ:SIVB) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Sunday.
SIVB has been the subject of several other reports. Barclays PLC increased their price objective on SVB Financial Group from $178.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Friday, April 7th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $195.00 price objective on shares of SVB Financial Group in a research note on Friday, July 14th. Jefferies Group LLC reissued a “buy” rating and issued a $216.00 price objective on shares of SVB Financial Group in a research note on Sunday, June 11th. Morgan Stanley increased their price objective on SVB Financial Group from $208.00 to $210.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 6th. Finally, FIG Partners assumed coverage on SVB Financial Group in a research note on Tuesday, April 11th. They issued an “outperform” rating and a $200.00 price objective for the company. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. SVB Financial Group currently has an average rating of “Buy” and a consensus target price of $200.67.
SVB Financial Group (SIVB) opened at 176.99 on Friday. SVB Financial Group has a 1-year low of $96.87 and a 1-year high of $198.83. The company has a market capitalization of $9.30 billion, a P/E ratio of 21.51 and a beta of 1.60. The firm has a 50-day moving average price of $178.97 and a 200-day moving average price of $180.60.
SVB Financial Group (NASDAQ:SIVB) last issued its quarterly earnings data on Thursday, July 27th. The bank reported $2.32 EPS for the quarter, topping the consensus estimate of $2.05 by $0.27. The firm had revenue of $471.70 million during the quarter, compared to the consensus estimate of $451.96 million. SVB Financial Group had a return on equity of 11.45% and a net margin of 24.36%. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.78 earnings per share. On average, analysts forecast that SVB Financial Group will post $8.66 EPS for the current fiscal year.
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In other news, CFO Michael Descheneaux sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $184.38, for a total value of $1,290,660.00. Following the completion of the transaction, the chief financial officer now directly owns 18,419 shares of the company’s stock, valued at $3,396,095.22. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Bruce Wallace sold 8,790 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $182.58, for a total value of $1,604,878.20. Following the completion of the transaction, the insider now directly owns 14,248 shares of the company’s stock, valued at $2,601,399.84. The disclosure for this sale can be found here. Corporate insiders own 0.73% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its position in shares of SVB Financial Group by 16,192.8% in the first quarter. BlackRock Inc. now owns 4,539,004 shares of the bank’s stock valued at $844,664,000 after buying an additional 4,511,145 shares during the period. Harbour Capital Advisors LLC raised its position in shares of SVB Financial Group by 17,141.0% in the second quarter. Harbour Capital Advisors LLC now owns 1,389,972 shares of the bank’s stock valued at $7,907,000 after buying an additional 1,381,910 shares during the period. Credit Agricole S A raised its position in shares of SVB Financial Group by 924.5% in the first quarter. Credit Agricole S A now owns 1,128,284 shares of the bank’s stock valued at $44,547,000 after buying an additional 1,018,151 shares during the period. Columbus Circle Investors purchased a new position in shares of SVB Financial Group during the first quarter valued at $51,840,000. Finally, Vanguard Group Inc. raised its position in shares of SVB Financial Group by 7.0% in the first quarter. Vanguard Group Inc. now owns 4,205,626 shares of the bank’s stock valued at $782,624,000 after buying an additional 275,274 shares during the period. 95.24% of the stock is owned by institutional investors and hedge funds.
About SVB Financial Group
SVB Financial Group is a financial services company, as well as a bank holding and a financial holding company. The Company’s segments include Global Commercial Bank, SVB Private Bank and SVB Capital. The Global Commercial Bank segment consists of the operations of its Commercial Bank, and of SVB Wine, SVB Analytics and its Debt Fund Investments.
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