Shares of SVB Financial Group (NASDAQ:SIVB) have earned a consensus rating of “Buy” from the twenty-two research firms that are covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, three have given a hold recommendation, sixteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $321.25.
A number of brokerages recently issued reports on SIVB. Morgan Stanley lowered their price target on shares of SVB Financial Group from $320.00 to $310.00 and set an “overweight” rating for the company in a research report on Tuesday, January 8th. Piper Jaffray Companies reduced their price objective on shares of SVB Financial Group to $285.00 and set an “overweight” rating for the company in a research note on Thursday, January 3rd. ValuEngine upgraded shares of SVB Financial Group from a “strong sell” rating to a “sell” rating in a research note on Wednesday, January 2nd. Stephens restated a “buy” rating and set a $290.00 price objective on shares of SVB Financial Group in a research note on Wednesday, December 19th. Finally, Royal Bank of Canada set a $320.00 price objective on shares of SVB Financial Group and gave the company a “buy” rating in a research note on Thursday, December 6th.
In other news, insider Michael Descheneaux sold 1,750 shares of SVB Financial Group stock in a transaction that occurred on Thursday, November 1st. The shares were sold at an average price of $239.73, for a total value of $419,527.50. Following the completion of the sale, the insider now directly owns 18,289 shares in the company, valued at $4,384,421.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Philip C. Cox sold 620 shares of SVB Financial Group stock in a transaction that occurred on Wednesday, November 28th. The stock was sold at an average price of $238.96, for a total transaction of $148,155.20. Following the completion of the sale, the insider now owns 6,511 shares of the company’s stock, valued at $1,555,868.56. The disclosure for this sale can be found here. Insiders own 0.74% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. First Hawaiian Bank purchased a new position in shares of SVB Financial Group in the third quarter worth approximately $2,039,000. KAMES CAPITAL plc boosted its holdings in shares of SVB Financial Group by 1.0% in the third quarter. KAMES CAPITAL plc now owns 234,147 shares of the bank’s stock worth $72,768,000 after buying an additional 2,259 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of SVB Financial Group by 16.8% in the third quarter. Bank of New York Mellon Corp now owns 1,525,038 shares of the bank’s stock worth $474,028,000 after buying an additional 219,000 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of SVB Financial Group by 1.0% in the third quarter. Legal & General Group Plc now owns 222,871 shares of the bank’s stock worth $69,275,000 after buying an additional 2,209 shares during the last quarter. Finally, Sumitomo Life Insurance Co. purchased a new position in SVB Financial Group during the third quarter valued at approximately $1,481,000. Hedge funds and other institutional investors own 88.14% of the company’s stock.
NASDAQ SIVB traded up $0.04 during trading hours on Friday, reaching $215.31. 45,179 shares of the company’s stock traded hands, compared to its average volume of 642,585. SVB Financial Group has a 52-week low of $177.70 and a 52-week high of $333.74. The stock has a market cap of $11.22 billion, a P/E ratio of 21.73, a price-to-earnings-growth ratio of 1.02 and a beta of 1.87. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.63 and a quick ratio of 0.63.
SVB Financial Group (NASDAQ:SIVB) last issued its quarterly earnings results on Thursday, October 25th. The bank reported $5.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.44 by $0.66. SVB Financial Group had a net margin of 32.44% and a return on equity of 18.39%. The company had revenue of $703.29 million during the quarter, compared to analysts’ expectations of $664.51 million. Research analysts expect that SVB Financial Group will post 17.91 earnings per share for the current fiscal year.
SVB Financial Group announced that its Board of Directors has approved a share repurchase program on Tuesday, November 13th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the bank to repurchase up to 3.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
SVB Financial Group Company Profile
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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