SVB Financial Group (SIVB) Earns “Buy” Rating from Keefe, Bruyette & Woods
SVB Financial Group (NASDAQ:SIVB)‘s stock had its “buy” rating reiterated by equities research analysts at Keefe, Bruyette & Woods in a research note issued to investors on Friday. They currently have a $195.00 price objective on the bank’s stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 7.32% from the stock’s current price.
A number of other analysts also recently issued reports on SIVB. Jefferies Group LLC reaffirmed a “buy” rating and set a $216.00 price objective on shares of SVB Financial Group in a report on Tuesday, April 4th. Royal Bank Of Canada restated a “buy” rating and issued a $195.00 price objective on shares of SVB Financial Group in a research report on Tuesday, April 4th. Zacks Investment Research cut shares of SVB Financial Group from a “buy” rating to a “hold” rating in a research report on Monday, May 1st. BidaskClub cut shares of SVB Financial Group from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 23rd. Finally, Piper Jaffray Companies reiterated an “overweight” rating and set a $214.00 price target (up previously from $202.00) on shares of SVB Financial Group in a research report on Friday, April 14th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $200.27.
Shares of SVB Financial Group (NASDAQ SIVB) traded down 0.75% during mid-day trading on Friday, hitting $181.70. The stock had a trading volume of 396,967 shares. The company has a market cap of $9.54 billion, a P/E ratio of 23.60 and a beta of 1.60. SVB Financial Group has a 1-year low of $87.28 and a 1-year high of $198.83. The firm’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 results on Thursday, April 27th. The bank reported $1.91 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.86 by $0.05. SVB Financial Group had a net margin of 23.67% and a return on equity of 10.77%. The company had revenue of $427.65 million during the quarter, compared to analyst estimates of $429.13 million. During the same quarter last year, the business posted $1.52 EPS. SVB Financial Group’s quarterly revenue was up 16.4% compared to the same quarter last year. Analysts predict that SVB Financial Group will post $8.66 earnings per share for the current fiscal year.
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In other SVB Financial Group news, CFO Michael Descheneaux sold 7,000 shares of the firm’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $184.38, for a total transaction of $1,290,660.00. Following the transaction, the chief financial officer now 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 is available at the SEC website. Also, insider Bruce Wallace sold 8,790 shares of the firm’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $182.58, for a total transaction of $1,604,878.20. Following the transaction, the insider now directly owns 14,248 shares in the company, valued at approximately $2,601,399.84. The disclosure for this sale can be found here. Company insiders own 0.73% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. increased 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. Credit Agricole S A boosted its stake in 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 period. TimesSquare Capital Management LLC boosted its stake in SVB Financial Group by 161.0% in the second quarter. TimesSquare Capital Management LLC now owns 1,250,100 shares of the bank’s stock worth $118,960,000 after buying an additional 771,200 shares during the period. The Manufacturers Life Insurance Company bought a new stake in SVB Financial Group during the third quarter worth approximately $76,418,000. Finally, Janus Capital Management LLC boosted its stake in SVB Financial Group by 174.8% in the fourth quarter. Janus Capital Management LLC now owns 845,827 shares of the bank’s stock worth $145,194,000 after buying an additional 538,044 shares during the period. 95.82% of the stock is currently owned by hedge funds and other institutional investors.
SVB Financial Group Company Profile
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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