SVB Financial Group (NASDAQ:SIVB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “Shares of SVB Financial have significantly outperformed the industry over the past six months. The performance was supported by impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in each the trailing four quarters. Its fourth-quarter 2017 results depict revenue growth. The company remains well positioned to capitalize on future opportunities driven by sturdy capital position, an improved rate scenario, global expansion efforts and consistent growth in loans and deposits. However, mounting operating expenses owing to the company’s efforts to expand globally will likely weigh on its financials in the near term. Also, deteriorating asset quality and stretched valuation limit the stock’s upside potential.”
A number of other research firms have also issued reports on SIVB. SunTrust Banks boosted their price objective on SVB Financial Group to $300.00 and gave the company a “buy” rating in a research report on Friday, January 26th. Jefferies Group restated a “buy” rating on shares of SVB Financial Group in a research report on Friday, January 26th. Stephens restated a “buy” rating on shares of SVB Financial Group in a research report on Friday, January 26th. Barclays restated a “hold” rating and set a $273.00 price objective on shares of SVB Financial Group in a research report on Sunday, January 28th. Finally, FIG Partners lowered SVB Financial Group from an “outperform” rating to a “market perform” rating in a research report on Friday, January 26th. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $239.92.
SVB Financial Group (NASDAQ:SIVB) last released its quarterly earnings data on Thursday, January 25th. The bank reported $2.19 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.60 by ($0.41). SVB Financial Group had a net margin of 24.25% and a return on equity of 12.83%. The company had revenue of $545.97 million for the quarter, compared to analyst estimates of $523.45 million. During the same quarter in the prior year, the firm earned $1.89 EPS. sell-side analysts forecast that SVB Financial Group will post 13.85 EPS for the current fiscal year.
In other news, insider Gregory W. Becker sold 4,500 shares of the business’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $243.49, for a total value of $1,095,705.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Christopher Edmonds-Waters sold 3,630 shares of the business’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $209.86, for a total value of $761,791.80. Following the completion of the sale, the insider now directly 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 20,816 shares of company stock valued at $4,819,541 in the last quarter. 0.73% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the company. Oakbrook Investments LLC raised its stake in shares of SVB Financial Group by 84.3% in the 3rd quarter. Oakbrook Investments LLC now owns 4,100 shares of the bank’s stock worth $767,000 after buying an additional 1,875 shares in the last quarter. Strs Ohio raised its stake in shares of SVB Financial Group by 4.3% in the 3rd quarter. Strs Ohio now owns 407,764 shares of the bank’s stock worth $76,288,000 after buying an additional 16,811 shares in the last quarter. California Public Employees Retirement System raised its stake in shares of SVB Financial Group by 3.8% in the 3rd quarter. California Public Employees Retirement System now owns 139,055 shares of the bank’s stock worth $26,016,000 after buying an additional 5,155 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of SVB Financial Group by 37.7% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 42,877 shares of the bank’s stock worth $8,022,000 after buying an additional 11,740 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in shares of SVB Financial Group by 7.8% in the 3rd quarter. Wells Fargo & Company MN now owns 107,473 shares of the bank’s stock worth $20,107,000 after buying an additional 7,783 shares in the last quarter. 90.11% of the stock is currently owned by institutional investors.
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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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