SVB Financial Group (NASDAQ:SIVB) has received an average recommendation of “Buy” from the fifteen brokerages that are currently covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $200.60.
Several equities research analysts have commented on SIVB shares. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $214.00 price target (up from $202.00) on shares of SVB Financial Group in a report on Friday, April 14th. Wedbush reissued a “neutral” rating and set a $192.00 target price on shares of SVB Financial Group in a research note on Tuesday, June 27th. Barclays PLC reissued a “hold” rating and set a $188.00 target price on shares of SVB Financial Group in a research note on Monday, May 1st. Zacks Investment Research upgraded shares of SVB Financial Group from a “hold” rating to a “buy” rating and set a $204.00 price target for the company in a research report on Wednesday, March 29th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $216.00 price objective on shares of SVB Financial Group in a report on Tuesday, April 4th.
Shares of SVB Financial Group (NASDAQ SIVB) opened at 180.57 on Tuesday. SVB Financial Group has a 52 week low of $96.86 and a 52 week high of $198.83. The company has a market capitalization of $9.48 billion, a price-to-earnings ratio of 23.46 and a beta of 1.60. The firm has a 50 day moving average price of $176.72 and a 200 day moving average price of $179.51.
SVB Financial Group (NASDAQ:SIVB) last posted its quarterly earnings results on Thursday, April 27th. The bank reported $1.91 EPS for the quarter, beating the consensus estimate of $1.86 by $0.05. SVB Financial Group had a net margin of 23.67% and a return on equity of 10.77%. The company had revenue of $427.65 million for the quarter, compared to analyst estimates of $429.13 million. During the same period in the prior year, the company earned $1.52 earnings per share. The firm’s revenue was up 16.4% on a year-over-year basis. Equities analysts forecast that SVB Financial Group will post $8.66 EPS for the current year.
In other news, CFO Michael Descheneaux sold 7,000 shares of SVB Financial Group stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $184.38, for a total value of $1,290,660.00. Following the sale, the chief financial officer now owns 18,419 shares of the company’s stock, valued at $3,396,095.22. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Bruce Wallace sold 8,790 shares of SVB Financial Group stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $182.58, for a total transaction of $1,604,878.20. Following the completion of the sale, the insider now directly owns 14,248 shares in the company, valued at approximately $2,601,399.84. The disclosure for this sale can be found here. 0.73% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in SIVB. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. bought a new stake in SVB Financial Group during the first quarter worth approximately $117,000. Exane Derivatives acquired a new position in shares of SVB Financial Group during the second quarter worth about $119,000. Nomura Asset Management Co. Ltd. boosted its position in shares of SVB Financial Group by 11.7% in the first quarter. Nomura Asset Management Co. Ltd. now owns 860 shares of the bank’s stock worth $160,000 after buying an additional 90 shares during the last quarter. State of Alaska Department of Revenue purchased a new position in SVB Financial Group during the first quarter worth $171,000. Finally, Livforsakringsbolaget Skandia Omsesidigt purchased a new position in SVB Financial Group during the second quarter worth $176,000. 95.38% of the stock is currently owned by hedge funds and other institutional investors.
SVB Financial Group Company Profile
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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