SVB Financial Group (SIVB) Earns Buy Rating from SunTrust Banks, Inc.
SVB Financial Group (NASDAQ:SIVB)‘s stock had its “buy” rating restated by stock analysts at SunTrust Banks, Inc. in a research report issued to clients and investors on Friday. They presently have a $245.00 target price on the bank’s stock. SunTrust Banks, Inc.’s price target indicates a potential upside of 13.84% from the stock’s previous close.
Several other research firms have also issued reports on SIVB. Zacks Investment Research lowered shares of SVB Financial Group from a “buy” rating to a “hold” rating in a report on Monday, November 13th. Wells Fargo & Company reissued an “outperform” rating and issued a $240.00 target price (up from $215.00) on shares of SVB Financial Group in a report on Thursday, November 9th. Barclays PLC set a $217.00 target price on shares of SVB Financial Group and gave the stock a “hold” rating in a report on Monday, October 30th. Maxim Group reissued a “buy” rating and issued a $250.00 target price (up from $220.00) on shares of SVB Financial Group in a report on Monday, October 30th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $213.00 target price (up from $210.00) on shares of SVB Financial Group in a report on Wednesday, October 4th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $216.21.
SVB Financial Group (NASDAQ:SIVB) traded up $0.99 during midday trading on Friday, hitting $215.22. 261,074 shares of the stock traded hands, compared to its average volume of 492,112. SVB Financial Group has a 12-month low of $149.01 and a 12-month high of $223.82. The stock has a market cap of $11,300.00, a price-to-earnings ratio of 23.94, a P/E/G ratio of 2.04 and a beta of 1.63. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.18.
SVB Financial Group (NASDAQ:SIVB) last released its quarterly earnings results on Thursday, October 26th. The bank reported $2.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.29 by $0.50. SVB Financial Group had a net margin of 25.07% and a return on equity of 11.88%. The firm had revenue of $533.40 million during the quarter, compared to analyst estimates of $490.56 million. During the same quarter in the prior year, the firm earned $2.12 EPS. The business’s revenue for the quarter was up 23.0% compared to the same quarter last year. analysts forecast that SVB Financial Group will post 9.5 EPS for the current fiscal year.
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In related news, insider Kamran F. Husain sold 2,890 shares of the stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $220.20, for a total transaction of $636,378.00. Following the sale, the insider now owns 890 shares in the company, valued at approximately $195,978. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Christopher Edmonds-Waters sold 3,630 shares of the stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $209.86, for a total value of $761,791.80. Following the sale, the insider now owns 5,918 shares in the company, valued at approximately $1,241,951.48. The disclosure for this sale can be found here. Insiders have sold a total of 10,780 shares of company stock valued at $2,237,898 over the last quarter. Corporate insiders own 0.73% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in SIVB. Harding Loevner LP raised its holdings in SVB Financial Group by 209.0% during the 3rd quarter. Harding Loevner LP now owns 4,817,712 shares of the bank’s stock valued at $284,617,000 after buying an additional 3,258,700 shares during the period. Harbour Capital Advisors LLC raised its holdings in SVB Financial Group by 17,141.0% during the 2nd 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. Janus Henderson Group PLC purchased a new stake in SVB Financial Group during the 2nd quarter valued at $173,726,000. BlackRock Inc. raised its holdings in SVB Financial Group by 16.5% during the 2nd quarter. BlackRock Inc. now owns 5,287,595 shares of the bank’s stock valued at $929,507,000 after buying an additional 748,591 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in SVB Financial Group by 41.9% during the 2nd 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 own 94.52% 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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