Morgan Stanley Reiterates Overweight Rating for SVB Financial Group (SIVB)

Morgan Stanley restated their overweight rating on shares of SVB Financial Group (NASDAQ:SIVB) in a research note released on Wednesday. The firm currently has a $213.00 target price on the bank’s stock, up from their previous target price of $210.00.

Other analysts have also issued research reports about the company. Jefferies Group LLC reaffirmed a buy rating and issued a $216.00 target price on shares of SVB Financial Group in a report on Sunday, June 11th. Maxim Group raised their target price on SVB Financial Group from $200.00 to $220.00 and gave the company a buy rating in a report on Monday, July 31st. BidaskClub lowered SVB Financial Group from a strong-buy rating to a buy rating in a report on Friday, June 23rd. Zacks Investment Research raised SVB Financial Group from a hold rating to a buy rating and set a $197.00 target price on the stock in a report on Tuesday, July 4th. Finally, Stephens reaffirmed a buy rating and issued a $205.00 target price on shares of SVB Financial Group in a report on Friday, July 28th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company. SVB Financial Group has a consensus rating of Buy and a consensus target price of $203.00.

SVB Financial Group (SIVB) traded up 0.98% during trading on Wednesday, reaching $189.10. The company’s stock had a trading volume of 427,711 shares. SVB Financial Group has a 52-week low of $112.00 and a 52-week high of $198.83. The stock’s 50-day moving average is $174.20 and its 200 day moving average is $178.00. The firm has a market capitalization of $9.96 billion, a price-to-earnings ratio of 22.98 and a beta of 1.63.

SVB Financial Group (NASDAQ:SIVB) last issued its quarterly earnings data on Thursday, July 27th. The bank reported $2.32 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.05 by $0.27. SVB Financial Group had a return on equity of 11.27% and a net margin of 24.36%. The business had revenue of $471.70 million for the quarter, compared to the consensus estimate of $451.96 million. During the same period last year, the business earned $1.78 EPS. The firm’s revenue was up 10.2% compared to the same quarter last year. On average, analysts predict that SVB Financial Group will post $8.99 EPS for the current fiscal year.

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In other news, Director Eric Benhamou sold 2,000 shares of SVB Financial Group stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $172.01, for a total transaction of $344,020.00. Following the sale, the director now owns 6,672 shares of the company’s stock, valued at approximately $1,147,650.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Philip C. Cox sold 3,024 shares of SVB Financial Group stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $182.80, for a total value of $552,787.20. Following the sale, the insider now directly owns 2,872 shares in the company, valued at approximately $525,001.60. The disclosure for this sale can be found here. Insiders have sold a total of 8,524 shares of company stock worth $1,534,052 in the last three months. 0.73% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in the company. Fulton Bank N.A. grew its holdings in shares of SVB Financial Group by 7.7% during the 3rd quarter. Fulton Bank N.A. now owns 6,194 shares of the bank’s stock worth $1,158,000 after purchasing an additional 445 shares in the last quarter. Ashford Capital Management Inc. grew its holdings in shares of SVB Financial Group by 1.2% during the 2nd quarter. Ashford Capital Management Inc. now owns 103,280 shares of the bank’s stock worth $18,156,000 after purchasing an additional 1,204 shares in the last quarter. Toronto Dominion Bank grew its holdings in shares of SVB Financial Group by 525.6% during the 2nd quarter. Toronto Dominion Bank now owns 782 shares of the bank’s stock worth $137,000 after purchasing an additional 657 shares in the last quarter. Cookson Peirce & Co. Inc. grew its holdings in shares of SVB Financial Group by 275.7% during the 2nd quarter. Cookson Peirce & Co. Inc. now owns 9,430 shares of the bank’s stock worth $1,658,000 after purchasing an additional 6,920 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of SVB Financial Group during the 2nd quarter worth approximately $636,000. 92.12% of the stock is currently owned by institutional investors.

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.

Analyst Recommendations for SVB Financial Group (NASDAQ:SIVB)

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