SVB Financial Group Stock Rating Reaffirmed by Zacks (SIVB)
SVB Financial Group (NASDAQ:SIVB)‘s stock had its “neutral” rating reiterated by Zacks in a research note issued to investors on Wednesday, Stock Ratings Network reports. They currently have a $108.00 price objective on the stock. Zacks‘ target price would indicate a potential upside of 4.07% from the company’s current price.
Zacks‘ analyst wrote, “SVB Financial’s third-quarter 2013 results were well ahead of the Zacks Consensus Estimate. Results were aided by rise in revenues, partially offset by higher operating expenses. Further, profitability ratios improved, while asset quality deteriorated. However, steady capital ratios as well as growth in loans and deposits were among the positives. These, along with a decline in long-term debt, will likely aid the company’s bottom-line growth. However, a still low interest rate environment, sluggish economic recovery and stringent regulations are expected to slightly dampen profitability in the near term.”
Several other analysts have also recently commented on the stock. Analysts at Jefferies Group raised their price target on shares of SVB Financial Group from $85.00 to $93.00 in a research note to investors on Tuesday, October 29th. They now have a “hold” rating on the stock. Separately, analysts at Keefe, Bruyette & Woods raised their price target on shares of SVB Financial Group from $100.00 to $110.00 in a research note to investors on Monday, October 28th. Finally, analysts at Sandler O’Neill raised their price target on shares of SVB Financial Group from $92.00 to $96.00 in a research note to investors on Friday, October 25th. They now have a “hold” rating on the stock. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $96.33.
Shares of SVB Financial Group (NASDAQ:SIVB) traded up 0.49% on Wednesday, hitting $103.78. 181,101 shares of the company’s stock traded hands. SVB Financial Group has a 52 week low of $59.90 and a 52 week high of $106.99. The stock has a 50-day moving average of $102.6 and a 200-day moving average of $92.86. The company has a market cap of $4.739 billion and a P/E ratio of 22.70.
SVB Financial Group (NASDAQ:SIVB) last issued its quarterly earnings data on Thursday, October 24th. The company reported $1.46 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.44 by $0.02. During the same quarter last year, the company posted $0.94 earnings per share. Analysts expect that SVB Financial Group will post $4.52 EPS for the current fiscal year.
SVB Financial Group (NASDAQ:SIVB) is a diversified financial services company, as well as a bank holding company and financial holding company.
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