SVB Financial Group (SIVB) Given Average Recommendation of “Buy” by Brokerages
Shares of SVB Financial Group (NASDAQ:SIVB) have received a consensus recommendation of “Buy” from the fourteen research firms that are currently covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $203.27.
A number of research firms recently commented on SIVB. Zacks Investment Research cut SVB Financial Group from a “buy” rating to a “hold” rating in a research note on Friday, July 7th. Wedbush reissued a “neutral” rating and issued a $192.00 target price on shares of SVB Financial Group in a research note on Tuesday, June 27th. BidaskClub cut SVB Financial Group from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 23rd. Barclays PLC reissued an “equal weight” rating and issued a $191.00 target price (up previously from $188.00) on shares of SVB Financial Group in a research note on Wednesday, July 12th. Finally, Piper Jaffray Companies reissued a “buy” rating and issued a $212.00 target price on shares of SVB Financial Group in a research note on Friday, July 14th.
In other SVB Financial Group news, insider Michael Descheneaux sold 3,500 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $182.07, for a total transaction of $637,245.00. Following the completion of the sale, the insider now directly owns 14,064 shares in the company, valued at $2,560,632.48. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Philip C. Cox sold 3,024 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $182.80, for a total transaction of $552,787.20. Following the sale, the insider now owns 2,872 shares of the company’s stock, valued at $525,001.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,524 shares of company stock valued at $1,534,052. Company insiders own 0.73% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of SIVB. BlackRock Inc. boosted its position in SVB Financial Group by 16,192.8% during the first quarter. BlackRock Inc. now owns 4,539,004 shares of the bank’s stock valued at $844,664,000 after buying an additional 4,511,145 shares during the period. Harbour Capital Advisors LLC boosted its position in SVB Financial Group by 17,141.0% during the second quarter. Harbour Capital Advisors LLC now owns 1,389,972 shares of the bank’s stock valued at $7,907,000 after buying an additional 1,381,910 shares during the period. Credit Agricole S A boosted its position in SVB Financial Group by 924.5% during the first quarter. Credit Agricole S A now owns 1,128,284 shares of the bank’s stock valued at $44,547,000 after buying an additional 1,018,151 shares during the period. Janus Henderson Group PLC purchased a new stake in SVB Financial Group during the second quarter valued at about $173,726,000. Finally, JPMorgan Chase & Co. boosted its position in SVB Financial Group by 41.9% during the second quarter. JPMorgan Chase & Co. now owns 2,134,833 shares of the bank’s stock valued at $375,282,000 after buying an additional 629,917 shares during the period. Institutional investors and hedge funds own 92.10% of the company’s stock.
Shares of SVB Financial Group (SIVB) opened at 179.82 on Friday. The company’s 50 day moving average price is $172.02 and its 200 day moving average price is $178.69. SVB Financial Group has a 12-month low of $104.84 and a 12-month high of $198.83. The firm has a market cap of $9.48 billion, a P/E ratio of 21.85 and a beta of 1.61.
SVB Financial Group (NASDAQ:SIVB) last released its quarterly earnings results on Thursday, July 27th. The bank reported $2.32 earnings per share for the quarter, topping the consensus estimate of $2.05 by $0.27. The firm had revenue of $471.70 million for the quarter, compared to analysts’ expectations of $451.96 million. SVB Financial Group had a net margin of 24.36% and a return on equity of 11.27%. The business’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.78 earnings per share. Equities research analysts forecast that SVB Financial Group will post $8.99 EPS for the current year.
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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