SVB Financial Group (NASDAQ:SIVB) had its target price reduced by equities researchers at Barclays from $300.00 to $275.00 in a note issued to investors on Thursday, BenzingaRatingsTable reports. The firm currently has an “overweight” rating on the bank’s stock. Barclays‘s price target suggests a potential upside of 23.83% from the company’s previous close.
A number of other equities research analysts also recently weighed in on the company. ValuEngine downgraded SVB Financial Group from a “hold” rating to a “sell” rating in a research report on Tuesday, August 6th. SunTrust Banks decreased their target price on SVB Financial Group to $260.00 and set a “buy” rating on the stock in a research report on Monday, July 29th. Morgan Stanley decreased their target price on SVB Financial Group from $310.00 to $280.00 and set an “overweight” rating on the stock in a research report on Monday, July 1st. BidaskClub raised SVB Financial Group from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, Raymond James downgraded SVB Financial Group from a “strong-buy” rating to a “market perform” rating in a research report on Monday, July 8th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $272.09.
SVB Financial Group stock opened at $222.08 on Thursday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.71 and a current ratio of 0.71. The business’s 50-day simple moving average is $203.50 and its 200-day simple moving average is $224.01. The firm has a market capitalization of $11.13 billion, a PE ratio of 12.18, a PEG ratio of 1.33 and a beta of 2.14. SVB Financial Group has a 52 week low of $177.70 and a 52 week high of $330.50.
SVB Financial Group (NASDAQ:SIVB) last posted its quarterly earnings data on Thursday, July 25th. The bank reported $6.08 EPS for the quarter, topping analysts’ consensus estimates of $4.98 by $1.10. The business had revenue of $863.15 million for the quarter, compared to analyst estimates of $787.38 million. SVB Financial Group had a return on equity of 21.44% and a net margin of 35.83%. During the same period in the previous year, the company posted $4.42 earnings per share. Research analysts forecast that SVB Financial Group will post 21.25 earnings per share for the current year.
In other SVB Financial Group news, insider Marc C. Cadieux sold 2,000 shares of SVB Financial Group stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $229.94, for a total transaction of $459,880.00. Following the sale, the insider now directly owns 14,147 shares of the company’s stock, valued at $3,252,961.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael Descheneaux sold 3,000 shares of SVB Financial Group stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $201.19, for a total value of $603,570.00. Following the sale, the insider now directly owns 21,438 shares in the company, valued at $4,313,111.22. The disclosure for this sale can be found here. Insiders have sold 5,547 shares of company stock worth $1,189,038 over the last ninety days. Company insiders own 0.73% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Patriot Financial Group Insurance Agency LLC boosted its holdings in shares of SVB Financial Group by 3,733.3% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 115 shares of the bank’s stock worth $25,000 after acquiring an additional 112 shares in the last quarter. Griffin Asset Management Inc. acquired a new position in shares of SVB Financial Group in the 2nd quarter worth approximately $28,000. Pearl River Capital LLC acquired a new position in shares of SVB Financial Group in the 2nd quarter worth approximately $30,000. NEXT Financial Group Inc acquired a new position in shares of SVB Financial Group in the 2nd quarter worth approximately $33,000. Finally, Bronfman E.L. Rothschild L.P. boosted its holdings in shares of SVB Financial Group by 135.4% in the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 193 shares of the bank’s stock worth $37,000 after acquiring an additional 111 shares in the last quarter. 92.12% of the stock is currently owned by institutional investors.
About SVB Financial Group
SVB Financial Group, a diversified financial services company, provides various banking and financial products and services. The company operates through three segments: Global Commercial Bank, SVB Private Bank, and SVB Capital. The Global Commercial Bank segment offers deposit products, such as business and analysis checking, money market, multi-currency, in-country bank, and sweep accounts, as well as merchant, remote capture, lockbox, electronic deposit capture, and fraud control services; credit products and services comprising term loans, equipment loans, asset-based loans, revolving lines of credit, accounts-receivable-based lines of credit, capital call lines of credit, and credit cards; and payment and cash management products and services, including wire transfer and automated clearing house payment, bill pay, debit and credit cards, account analysis, and disbursement, as well as online and mobile banking services.
Featured Article: How do CD ladders protect against rising interest rates?
Receive News & Ratings for SVB Financial Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SVB Financial Group and related companies with MarketBeat.com's FREE daily email newsletter.