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SVB Financial Group (NASDAQ:SIVB) was upgraded by equities researchers at RBC Capital from a “sector perform” rating to an “outperform” rating in a research report issued on Thursday, reports. The firm currently has a $135.00 price objective on the stock, up from their previous price objective of $115.00. RBC Capital’s price objective suggests a potential upside of 20.59% from the stock’s previous close.

SVB Financial Group (NASDAQ:SIVB) traded up 2.79% during mid-day trading on Thursday, hitting $115.078. 87,731 shares of the company’s stock traded hands. SVB Financial Group has a 52 week low of $74.43 and a 52 week high of $135.00. The stock has a 50-day moving average of $106.9 and a 200-day moving average of $111.7. The company has a market cap of $5.298 billion and a P/E ratio of 19.46. SVB Financial Group also was the recipient of a significant growth in short interest in May. As of May 30th, there was short interest totalling 838,028 shares, a growth of 27.9% from the May 15th total of 655,108 shares. Approximately 1.7% of the company’s stock are short sold. Based on an average trading volume of 683,391 shares, the days-to-cover ratio is currently 1.2 days.

SVB Financial Group (NASDAQ:SIVB) last announced its earnings results on Thursday, April 24th. The company reported $1.95 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.57 by $0.38. During the same quarter in the prior year, the company posted $0.90 earnings per share. On average, analysts predict that SVB Financial Group will post $5.40 earnings per share for the current fiscal year.

Several other analysts have also recently commented on the stock. Analysts at Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of SVB Financial Group in a research note on Friday, May 16th. They now have a $120.00 price target on the stock, down previously from $130.00. Separately, analysts at Evercore Partners cut their price target on shares of SVB Financial Group from $145.00 to $130.00 in a research note on Thursday, May 15th. Finally, analysts at Raymond James cut their price target on shares of SVB Financial Group from $146.00 to $130.00 in a research note on Tuesday, May 13th. They now have a “strong-buy” rating on the stock. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $120.86.

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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