SVB Financial Group (NASDAQ:SIVB) had its price objective lowered by equities researchers at Piper Jaffray Companies from $99.00 to $96.00 in a note issued to investors on Monday, April 17th, StockTargetPrices.com reports. The brokerage presently has a “buy” rating on the bank’s stock. Piper Jaffray Companies’ target price indicates a potential downside of 45.36% from the company’s previous close.
Several other analysts have also recently commented on the stock. FIG Partners began coverage on shares of SVB Financial Group in a research report on Tuesday, April 11th. They set an “outperform” rating and a $200.00 target price for the company. Barclays PLC boosted their price target on shares of SVB Financial Group from $178.00 to $190.00 and gave the company an “equal weight” rating in a report on Friday, April 7th. Royal Bank of Canada reissued a “buy” rating and issued a $195.00 price target on shares of SVB Financial Group in a report on Tuesday, April 4th. Jefferies Group LLC reissued a “buy” rating and issued a $216.00 price target on shares of SVB Financial Group in a report on Tuesday, April 4th. Finally, Keefe, Bruyette & Woods set a $191.00 target price on shares of SVB Financial Group and gave the stock a “buy” rating in a research note on Monday, April 3rd. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. SVB Financial Group has an average rating of “Buy” and an average price target of $179.70.
Shares of SVB Financial Group (NASDAQ:SIVB) traded up 0.87% during mid-day trading on Monday, hitting $175.69. The stock had a trading volume of 474,848 shares. The company has a 50 day moving average price of $181.96 and a 200 day moving average price of $173.83. SVB Financial Group has a 12-month low of $82.90 and a 12-month high of $198.83. The firm has a market cap of $9.22 billion, a P/E ratio of 22.82 and a beta of 1.47.
SVB Financial Group (NASDAQ:SIVB) last posted its quarterly earnings data on Thursday, April 27th. The bank reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.86 by $0.05. SVB Financial Group had a net margin of 23.19% and a return on equity of 10.45%. The firm had revenue of $427.65 million during the quarter, compared to analysts’ expectations of $429.13 million. During the same quarter in the previous year, the company posted $1.52 EPS. SVB Financial Group’s revenue was up 16.4% on a year-over-year basis. Equities analysts forecast that SVB Financial Group will post $8.67 earnings per share for the current fiscal year.
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In related news, insider Bruce Wallace sold 8,790 shares of the stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $182.58, for a total transaction of $1,604,878.20. Following the sale, the insider now owns 14,248 shares in the company, valued at approximately $2,601,399.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Michael Descheneaux sold 7,000 shares of the stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $184.38, for a total transaction of $1,290,660.00. Following the sale, the chief financial officer now owns 18,419 shares in the company, valued at approximately $3,396,095.22. The disclosure for this sale can be found here. 0.78% of the stock is owned by corporate insiders.
Hedge funds have recently modified their holdings of the stock. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. bought a new stake in shares of SVB Financial Group during the first quarter worth $117,000. State of Alaska Department of Revenue bought a new stake in shares of SVB Financial Group during the first quarter worth $171,000. Mitchell Mcleod Pugh & Williams Inc. bought a new stake in shares of SVB Financial Group during the first quarter worth $201,000. Green Square Capital LLC bought a new stake in shares of SVB Financial Group during the first quarter worth $205,000. Finally, Commerzbank Aktiengesellschaft FI acquired a new position in SVB Financial Group during the fourth quarter valued at about $201,000. Hedge funds and other institutional investors own 91.77% 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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