SVB Financial Group (NASDAQ:SIVB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Friday.

According to Zacks, “SVB Financial’s shares have outperformed the Zacks categorized Banks-West industry so far this year. The company remains well positioned to capitalize on future opportunities on the back of its strong capital position, improved rate scenario, passage of the Financial Choice Act and consistent growth in loans and deposits. Further, its efforts to focus on improving non-interest income are expected to support top-line growth. However, mounting expenses are likely to hurt its profitability in the near term. Also, lack of geographic diversification remains a major concern for the company.”

A number of other brokerages also recently issued reports on SIVB. Stephens reissued a “buy” rating on shares of SVB Financial Group in a research report on Thursday, April 27th. Keefe, Bruyette & Woods set a $191.00 price objective on shares of SVB Financial Group and gave the company a “buy” rating in a research report on Monday, April 3rd. Jefferies Group LLC reissued a “buy” rating and set a $216.00 price objective on shares of SVB Financial Group in a research report on Tuesday, April 4th. BidaskClub raised shares of SVB Financial Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 14th. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $195.00 price objective on shares of SVB Financial Group in a research report on Tuesday, April 4th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $182.67.

Shares of SVB Financial Group (NASDAQ SIVB) traded up 2.60% on Friday, reaching $181.72. 423,907 shares of the company traded hands. SVB Financial Group has a one year low of $87.28 and a one year high of $198.83. The stock has a market capitalization of $9.54 billion, a P/E ratio of 23.61 and a beta of 1.60. The stock’s 50 day moving average price is $176.72 and its 200-day moving average price is $179.51.

SVB Financial Group (NASDAQ:SIVB) last issued its quarterly earnings data on Thursday, April 27th. The bank reported $1.91 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.86 by $0.05. The business had revenue of $427.65 million for the quarter, compared to the consensus estimate of $429.13 million. SVB Financial Group had a net margin of 23.67% and a return on equity of 10.77%. The company’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.52 EPS. Equities analysts forecast that SVB Financial Group will post $8.66 earnings per share for the current fiscal year.

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In other news, CFO Michael Descheneaux sold 7,000 shares of the company’s stock in a transaction dated Monday, May 15th. The shares were 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 directly owns 18,419 shares of the company’s stock, valued at approximately $3,396,095.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Bruce Wallace sold 8,790 shares of the company’s stock in a transaction dated 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 disclosure for this sale can be found here. 0.73% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in SIVB. BlackRock Inc. boosted its position in shares of SVB Financial Group by 16,192.8% in the first quarter. BlackRock Inc. now owns 4,539,004 shares of the bank’s stock worth $844,664,000 after buying an additional 4,511,145 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of SVB Financial Group by 7.0% in the first quarter. Vanguard Group Inc. now owns 4,205,626 shares of the bank’s stock worth $782,624,000 after buying an additional 275,274 shares during the last quarter. Credit Agricole S A boosted its position in shares of SVB Financial Group by 924.5% in the first quarter. Credit Agricole S A now owns 1,128,284 shares of the bank’s stock worth $44,547,000 after buying an additional 1,018,151 shares during the last quarter. Janus Capital Management LLC boosted its position in shares of SVB Financial Group by 15.5% in the first quarter. Janus Capital Management LLC now owns 977,034 shares of the bank’s stock worth $181,816,000 after buying an additional 131,207 shares during the last quarter. Finally, FMR LLC boosted its position in shares of SVB Financial Group by 12.6% in the first quarter. FMR LLC now owns 862,554 shares of the bank’s stock worth $160,513,000 after buying an additional 96,425 shares during the last quarter. Institutional investors 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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Analyst Recommendations for SVB Financial Group (NASDAQ:SIVB)

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