SVB Financial Group (SIVB) Rating Lowered to Buy at BidaskClub
SVB Financial Group (NASDAQ:SIVB) was downgraded by stock analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued on Friday.
Several other analysts have also recently commented on the company. Jefferies Group LLC reaffirmed a “buy” rating and issued a $216.00 target price on shares of SVB Financial Group in a research report on Sunday, June 11th. Morgan Stanley raised their target price on SVB Financial Group from $208.00 to $210.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 6th. Zacks Investment Research cut SVB Financial Group from a “buy” rating to a “hold” rating in a research report on Monday, May 1st. Barclays PLC reaffirmed a “hold” rating and issued a $188.00 target price on shares of SVB Financial Group in a research report on Monday, May 1st. Finally, Stephens reaffirmed a “buy” rating on shares of SVB Financial Group in a research report on Thursday, April 27th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $182.45.
SVB Financial Group (NASDAQ SIVB) traded down 1.96% during trading on Friday, reaching $170.84. The company had a trading volume of 574,324 shares. SVB Financial Group has a 52-week low of $82.90 and a 52-week high of $198.83. The stock has a market cap of $8.97 billion, a PE ratio of 22.19 and a beta of 1.55. The company has a 50-day moving average price of $178.46 and a 200 day moving average price of $179.38.
SVB Financial Group (NASDAQ:SIVB) last issued its earnings results on Thursday, April 27th. The bank reported $1.91 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.86 by $0.05. The business had revenue of $427.65 million during the quarter, compared to analysts’ expectations of $429.13 million. SVB Financial Group had a return on equity of 10.77% and a net margin of 23.67%. SVB Financial Group’s revenue was up 16.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.52 earnings per share. On average, analysts anticipate that SVB Financial Group will post $8.67 earnings per share for the current year.
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In related news, insider Bruce Wallace sold 8,790 shares of the stock in a transaction on Monday, May 15th. The stock was sold at an average price of $182.58, for a total transaction of $1,604,878.20. Following the completion of the sale, the insider now directly owns 14,248 shares in the company, valued at $2,601,399.84. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Michael Descheneaux sold 7,000 shares of the stock in a transaction on Monday, May 15th. The stock was sold at an average price of $184.38, for a total value of $1,290,660.00. Following the sale, the chief financial officer now owns 18,419 shares of the company’s stock, valued at $3,396,095.22. The disclosure for this sale can be found here. 0.73% of the stock is currently owned by company insiders.
Several hedge funds have recently made changes to their positions in SIVB. Clearbridge Investments LLC raised its stake in shares of SVB Financial Group by 15.0% in the first quarter. Clearbridge Investments LLC now owns 404,152 shares of the bank’s stock valued at $75,209,000 after buying an additional 52,731 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its position in SVB Financial Group by 195.0% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 35,994 shares of the bank’s stock valued at $6,699,000 after buying an additional 23,794 shares during the period. Cambridge Trust Co. raised its position in SVB Financial Group by 1.6% in the first quarter. Cambridge Trust Co. now owns 110,301 shares of the bank’s stock valued at $20,526,000 after buying an additional 1,756 shares during the period. Green Square Capital LLC bought a new position in SVB Financial Group during the first quarter valued at $205,000. Finally, Janus Capital Management LLC raised its position in SVB Financial Group by 15.5% in the first quarter. Janus Capital Management LLC now owns 977,034 shares of the bank’s stock valued at $181,816,000 after buying an additional 131,207 shares during the period. Institutional investors and hedge funds own 95.82% of the company’s stock.
About SVB Financial Group
SVB Financial Group is a financial services company, as well as a bank holding and a financial holding company. The Company’s segments include Global Commercial Bank, SVB Private Bank and SVB Capital. The Global Commercial Bank segment consists of the operations of its Commercial Bank, and of SVB Wine, SVB Analytics and its Debt Fund Investments.
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