Royal Bank of Canada set a $265.00 target price on SVB Financial Group (NASDAQ:SIVB) in a research note released on Friday morning, TipRanks reports. The firm currently has a buy rating on the bank’s stock.
A number of other equities research analysts also recently weighed in on SIVB. Wedbush lifted their price objective on SVB Financial Group from $222.00 to $230.00 and gave the company a neutral rating in a report on Friday. JPMorgan Chase & Co. decreased their price objective on SVB Financial Group from $285.00 to $250.00 and set an overweight rating on the stock in a report on Tuesday, July 2nd. Stephens reaffirmed a buy rating and set a $250.00 price objective on shares of SVB Financial Group in a report on Tuesday, September 17th. Barclays decreased their price objective on SVB Financial Group from $300.00 to $275.00 and set an overweight rating on the stock in a report on Thursday, September 12th. Finally, SunTrust Banks set a $250.00 price objective on SVB Financial Group and gave the company a buy rating in a report on Wednesday, September 18th. Nine analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $260.06.
SIVB traded up $7.49 on Friday, hitting $227.28. 646,640 shares of the stock traded hands, compared to its average volume of 510,968. SVB Financial Group has a 52 week low of $177.70 and a 52 week high of $263.16. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $10.71 billion, a PE ratio of 12.47, a P/E/G ratio of 1.23 and a beta of 2.16. The business has a fifty day moving average price of $207.17 and a two-hundred day moving average price of $217.61.
SVB Financial Group (NASDAQ:SIVB) last issued its quarterly earnings results on Thursday, October 24th. The bank reported $5.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.99 by $0.16. SVB Financial Group had a return on equity of 21.44% and a net margin of 35.83%. The firm had revenue of $814.65 million for the quarter, compared to analyst estimates of $805.27 million. During the same period in the previous year, the company posted $5.10 earnings per share. The company’s quarterly revenue was up 15.8% compared to the same quarter last year. On average, equities research analysts forecast that SVB Financial Group will post 21.17 EPS for the current fiscal year.
In other news, insider Michael Descheneaux sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $201.19, for a total value of $603,570.00. Following the transaction, the insider now directly owns 21,438 shares of the company’s stock, valued at approximately $4,313,111.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Philip C. Cox sold 350 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $230.80, for a total value of $80,780.00. Following the completion of the transaction, the chief operating officer now directly owns 7,909 shares in the company, valued at $1,825,397.20. The disclosure for this sale can be found here. Insiders sold a total of 6,198 shares of company stock worth $1,335,030 over the last three months. 0.73% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Great West Life Assurance Co. Can boosted its holdings in SVB Financial Group by 0.8% during the third quarter. Great West Life Assurance Co. Can now owns 40,331 shares of the bank’s stock worth $8,431,000 after purchasing an additional 319 shares during the last quarter. New York State Teachers Retirement System increased its position in shares of SVB Financial Group by 1.3% during the third quarter. New York State Teachers Retirement System now owns 80,951 shares of the bank’s stock worth $16,915,000 after acquiring an additional 1,051 shares in the last quarter. Convergence Investment Partners LLC bought a new stake in shares of SVB Financial Group during the third quarter worth about $128,000. EagleClaw Capital Managment LLC bought a new stake in shares of SVB Financial Group during the third quarter worth about $1,031,000. Finally, Handelsinvest Investeringsforvaltning increased its position in shares of SVB Financial Group by 254.7% during the third quarter. Handelsinvest Investeringsforvaltning now owns 6,963 shares of the bank’s stock worth $1,455,000 after acquiring an additional 5,000 shares in the last quarter. 91.21% of the stock is currently owned by institutional investors and hedge funds.
About SVB Financial Group
SVB Financial Group, a diversified financial services company, provides various banking and financial products and services. The company operates through three segments: Global Commercial Bank, SVB Private Bank, and SVB Capital. The Global Commercial Bank segment offers deposit products, such as business and analysis checking, money market, multi-currency, in-country bank, and sweep accounts, as well as merchant, remote capture, lockbox, electronic deposit capture, and fraud control services; credit products and services comprising term loans, equipment loans, asset-based loans, revolving lines of credit, accounts-receivable-based lines of credit, capital call lines of credit, and credit cards; and payment and cash management products and services, including wire transfer and automated clearing house payment, bill pay, debit and credit cards, account analysis, and disbursement, as well as online and mobile banking services.
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