SVB Financial Group (NASDAQ:SIVB) had its target price lifted by investment analysts at SunTrust Banks to $300.00 in a research note issued to investors on Friday. The firm presently has a “buy” rating on the bank’s stock. SunTrust Banks’ price target suggests a potential upside of 16.36% from the company’s previous close. SunTrust Banks also issued estimates for SVB Financial Group’s Q1 2018 earnings at $2.93 EPS, Q2 2018 earnings at $3.14 EPS, Q3 2018 earnings at $3.39 EPS, Q4 2018 earnings at $3.54 EPS, FY2018 earnings at $13.00 EPS and FY2019 earnings at $15.00 EPS.
Several other analysts have also recently issued reports on the stock. Maxim Group reissued a “buy” rating and set a $300.00 price target (up previously from $250.00) on shares of SVB Financial Group in a research report on Wednesday, January 10th. Wells Fargo & Co reissued an “outperform” rating and set a $280.00 price target (up previously from $240.00) on shares of SVB Financial Group in a research report on Tuesday, January 9th. Barclays increased their price target on shares of SVB Financial Group from $217.00 to $251.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 2nd. Zacks Investment Research raised shares of SVB Financial Group from a “hold” rating to a “buy” rating and set a $271.00 price target on the stock in a research report on Wednesday, December 27th. Finally, ValuEngine cut shares of SVB Financial Group from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $230.71.
SVB Financial Group (SIVB) traded down $3.30 during midday trading on Friday, reaching $257.83. 755,015 shares of the company’s stock were exchanged, compared to its average volume of 337,830. SVB Financial Group has a 52 week low of $159.44 and a 52 week high of $263.09. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.59 and a quick ratio of 0.59. The firm has a market capitalization of $13,772.19, a PE ratio of 27.99, a P/E/G ratio of 1.75 and a beta of 1.62.
In related news, insider Kamran F. Husain sold 2,890 shares of the firm’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $220.20, for a total value of $636,378.00. Following the sale, the insider now owns 890 shares of the company’s stock, valued at $195,978. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Eric Benhamou sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $226.01, for a total transaction of $452,020.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,291 shares of company stock worth $4,558,918. 0.73% of the stock is owned by corporate insiders.
Institutional investors have recently made changes to their positions in the business. Oakbrook Investments LLC increased its stake in SVB Financial Group by 84.3% in the third quarter. Oakbrook Investments LLC now owns 4,100 shares of the bank’s stock valued at $767,000 after purchasing an additional 1,875 shares during the last quarter. Strs Ohio increased its stake in SVB Financial Group by 4.3% in the third quarter. Strs Ohio now owns 407,764 shares of the bank’s stock valued at $76,288,000 after purchasing an additional 16,811 shares during the last quarter. California Public Employees Retirement System increased its stake in SVB Financial Group by 3.8% in the third quarter. California Public Employees Retirement System now owns 139,055 shares of the bank’s stock valued at $26,016,000 after purchasing an additional 5,155 shares during the last quarter. Clinton Group Inc. purchased a new position in SVB Financial Group in the second quarter valued at approximately $393,000. Finally, BNP Paribas Arbitrage SA increased its stake in SVB Financial Group by 37.7% in the third quarter. BNP Paribas Arbitrage SA now owns 42,877 shares of the bank’s stock valued at $8,022,000 after purchasing an additional 11,740 shares during the last quarter. Institutional investors own 91.90% of the company’s stock.
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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.
