SVB Financial Group (NASDAQ:SIVB) had its target price boosted by analysts at JMP Securities from $345.00 to $385.00 in a report issued on Friday, July 27th. The firm presently has a “market outperform” rating on the bank’s stock. JMP Securities’ price target indicates a potential upside of 21.55% from the stock’s previous close.
A number of other equities analysts also recently weighed in on SIVB. Zacks Investment Research downgraded shares of SVB Financial Group from a “buy” rating to a “hold” rating in a research note on Friday, July 20th. BidaskClub cut shares of SVB Financial Group from a “buy” rating to a “hold” rating in a report on Tuesday, June 26th. Royal Bank of Canada reiterated a “buy” rating and issued a $355.00 price objective on shares of SVB Financial Group in a report on Friday, July 27th. JPMorgan Chase & Co. upped their price objective on shares of SVB Financial Group from $345.00 to $375.00 and gave the stock an “overweight” rating in a report on Monday, June 11th. They noted that the move was a valuation call. Finally, ValuEngine upgraded shares of SVB Financial Group from a “hold” rating to a “buy” rating in a report on Friday, April 27th. Four equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $352.94.
NASDAQ:SIVB traded down $2.25 during trading hours on Friday, hitting $316.75. 297,135 shares of the stock traded hands, compared to its average volume of 485,919. The company has a quick ratio of 0.59, a current ratio of 0.60 and a debt-to-equity ratio of 0.14. SVB Financial Group has a fifty-two week low of $159.44 and a fifty-two week high of $333.74. The company has a market cap of $16.98 billion, a P/E ratio of 31.96, a price-to-earnings-growth ratio of 1.69 and a beta of 1.49.
SVB Financial Group (NASDAQ:SIVB) last announced its earnings results on Thursday, July 26th. The bank reported $4.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.86 by $0.56. SVB Financial Group had a net margin of 29.56% and a return on equity of 16.47%. The company had revenue of $659.10 million for the quarter, compared to the consensus estimate of $612.75 million. During the same period in the previous year, the business earned $2.32 EPS. The company’s revenue was up 39.9% on a year-over-year basis. equities research analysts anticipate that SVB Financial Group will post 17.19 earnings per share for the current year.
In related news, insider Gregory W. Becker sold 7,000 shares of the stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $325.40, for a total value of $2,277,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kate Mitchell sold 737 shares of the stock in a transaction dated Wednesday, May 30th. The shares were sold at an average price of $314.78, for a total transaction of $231,992.86. Following the completion of the sale, the director now owns 7,949 shares of the company’s stock, valued at approximately $2,502,186.22. The disclosure for this sale can be found here. Insiders have sold 21,109 shares of company stock valued at $6,664,724 over the last 90 days. Corporate insiders own 0.74% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dai Ichi Life Insurance Company Ltd bought a new stake in shares of SVB Financial Group in the second quarter valued at about $232,000. AGF Investments Inc. bought a new stake in shares of SVB Financial Group in the second quarter valued at about $2,888,000. Northwestern Mutual Wealth Management Co. lifted its stake in shares of SVB Financial Group by 458.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,129 shares of the bank’s stock valued at $326,000 after buying an additional 927 shares during the period. ClariVest Asset Management LLC bought a new stake in shares of SVB Financial Group in the second quarter valued at about $2,137,000. Finally, Employees Retirement System of Texas lifted its stake in shares of SVB Financial Group by 22.6% in the second quarter. Employees Retirement System of Texas now owns 38,000 shares of the bank’s stock valued at $10,973,000 after buying an additional 7,000 shares during the period. Institutional investors and hedge funds own 89.87% of the company’s stock.
About SVB Financial Group
SVB Financial Group, a diversified financial services company, provides various banking and financial products and services. Its 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 card account analysis, and disbursement, as well as online and mobile banking services.
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