SVB Financial Group (SIVB) Given “Overweight” Rating at Morgan Stanley
SVB Financial Group (NASDAQ:SIVB)‘s stock had its “overweight” rating reissued by stock analysts at Morgan Stanley in a report issued on Wednesday. They presently have a $213.00 target price on the bank’s stock, up from their previous target price of $210.00. Morgan Stanley’s target price would indicate a potential upside of 16.59% from the stock’s current price.
Other equities research analysts have also issued research reports about the company. Zacks Investment Research lowered SVB Financial Group from a “hold” rating to a “sell” rating in a research report on Tuesday. ValuEngine lowered SVB Financial Group from a “buy” rating to a “hold” rating in a research report on Monday. Jefferies Group LLC reiterated a “buy” rating and issued a $216.00 price objective on shares of SVB Financial Group in a research report on Friday, August 11th. Maxim Group boosted their price objective on SVB Financial Group from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Monday, July 31st. Finally, BidaskClub cut SVB Financial Group from a “buy” rating to a “hold” rating in a research note on Sunday, July 30th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $203.00.
SVB Financial Group (SIVB) traded down 1.85% during mid-day trading on Wednesday, hitting $182.69. 299,759 shares of the company traded hands. SVB Financial Group has a one year low of $112.00 and a one year high of $198.83. The company has a market capitalization of $9.63 billion, a price-to-earnings ratio of 22.20 and a beta of 1.63. The company’s 50-day moving average price is $172.95 and its 200 day moving average price is $177.90.
SVB Financial Group (NASDAQ:SIVB) last posted its earnings results on Thursday, July 27th. The bank reported $2.32 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.05 by $0.27. SVB Financial Group had a return on equity of 11.27% and a net margin of 24.36%. The firm had revenue of $471.70 million for the quarter, compared to analyst estimates of $451.96 million. During the same period in the previous year, the company posted $1.78 earnings per share. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. On average, analysts anticipate that SVB Financial Group will post $8.99 earnings per share for the current fiscal year.
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In related news, Director Eric Benhamou sold 2,000 shares of the company’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $172.01, for a total transaction of $344,020.00. Following the sale, the director now owns 6,672 shares in the company, valued at $1,147,650.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Philip C. Cox sold 3,024 shares of the company’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $182.80, for a total value of $552,787.20. Following the sale, the insider now owns 2,872 shares in the company, valued at approximately $525,001.60. The disclosure for this sale can be found here. Insiders have sold a total of 8,524 shares of company stock valued at $1,534,052 over the last ninety days. Company insiders own 0.73% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. BDO Wealth Advisors LLC acquired a new position in shares of SVB Financial Group during the 2nd quarter worth approximately $109,000. Exane Derivatives acquired a new stake in shares of SVB Financial Group in the 2nd quarter valued at approximately $119,000. Peddock Capital Advisors LLC acquired a new stake in shares of SVB Financial Group in the 2nd quarter valued at approximately $130,000. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of SVB Financial Group by 79.6% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 774 shares of the bank’s stock valued at $136,000 after buying an additional 343 shares during the last quarter. Finally, Global X Management Co. LLC boosted its holdings in shares of SVB Financial Group by 58.6% in the 2nd quarter. Global X Management Co. LLC now owns 782 shares of the bank’s stock valued at $137,000 after buying an additional 289 shares during the last quarter. Hedge funds and other institutional investors own 92.12% of the company’s stock.
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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