SVB Financial Group Upgraded by Raymond James to Strong-Buy (SIVB)
SVB Financial Group (NASDAQ:SIVB) was upgraded by analysts at Raymond James from an “outperform” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday, TheFlyOnTheWall.com reports. The firm currently has a $135.00 price objective on the stock, up from their previous price objective of $129.00. Raymond James’ price target would indicate a potential upside of 15.45% from the company’s current price.
The analysts wrote, “We are raising our rating on SIVB shares to Strong Buy from Outperform. Strong QTD C&I growth (Federal Reserve’s H.8 data) and accelerating venture capital activity (National Venture Capital Association) bode well for SVB’s loan growth and gains, which we believe will lead to positive EPS revisions. Subsequently, we believe strong loan growth and rising EPS estimates, combined with SVB’s asset sensitivity, will lead to attractive stock price appreciation. We believe SVB’s peer-best growth profile deserves a premium valuation.”
A number of other firms have also recently commented on SIVB. Analysts at Jefferies Group raised their price target on shares of SVB Financial Group from $102.00 to $126.00 in a research note on Friday, January 31st. Separately, analysts at Keefe, Bruyette & Woods raised their price target on shares of SVB Financial Group from $110.00 to $130.00 in a research note on Tuesday, January 28th. Finally, analysts at Barclays raised their price target on shares of SVB Financial Group from $96.00 to $105.00 in a research note on Friday, January 24th. They now have an “equal weight” rating on the stock. Five equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $107.40.
SVB Financial Group (NASDAQ:SIVB) traded up 2.39% during mid-day trading on Tuesday, hitting $119.73. 41,251 shares of the company’s stock traded hands. SVB Financial Group has a 52-week low of $65.45 and a 52-week high of $121.92. The stock has a 50-day moving average of $108.2 and a 200-day moving average of $96.35. The company has a market cap of $5.484 billion and a price-to-earnings ratio of 24.88.
SVB Financial Group (NASDAQ:SIVB) last posted its quarterly earnings results on Thursday, January 23rd. The company reported $1.27 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.10 by $0.17. During the same quarter last year, the company posted $1.12 earnings per share. Analysts expect that SVB Financial Group will post $5.25 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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