SVB Financial Group (NASDAQ:SIVB)‘s stock had its “equal weight” rating restated by equities research analysts at Barclays PLC in a research report issued to clients and investors on Wednesday, July 12th. They currently have a $191.00 price objective on the bank’s stock, up from their prior price objective of $188.00. Barclays PLC’s target price points to a potential upside of 11.01% from the company’s current price.
Other equities analysts have also recently issued reports about the company. BidaskClub cut SVB Financial Group from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 23rd. Jefferies Group LLC reiterated a “buy” rating and issued a $216.00 price target on shares of SVB Financial Group in a research report on Sunday, June 11th. Royal Bank Of Canada reiterated a “buy” rating and issued a $195.00 price target on shares of SVB Financial Group in a research report on Tuesday, April 4th. Keefe, Bruyette & Woods set a $191.00 target price on SVB Financial Group and gave the stock a “buy” rating in a research report on Monday, April 3rd. Finally, Zacks Investment Research upgraded SVB Financial Group from a “hold” rating to a “buy” rating and set a $204.00 target price for the company in a research report on Wednesday, March 29th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. SVB Financial Group has a consensus rating of “Buy” and an average target price of $202.75.
SVB Financial Group (NASDAQ:SIVB) traded down 0.46% during midday trading on Wednesday, reaching $172.03. 513,125 shares of the company’s stock traded hands. SVB Financial Group has a 52 week low of $103.05 and a 52 week high of $198.83. The company’s 50-day moving average price is $179.24 and its 200 day moving average price is $181.13. The stock has a market capitalization of $9.06 billion, a price-to-earnings ratio of 20.91 and a beta of 1.59.
SVB Financial Group (NASDAQ:SIVB) last announced its quarterly earnings results on Thursday, July 27th. The bank reported $2.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.05 by $0.27. The company had revenue of $471.70 million during the quarter, compared to analysts’ expectations of $451.96 million. SVB Financial Group had a return on equity of 12.90% and a net margin of 28.12%. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.78 earnings per share. On average, equities research analysts expect that SVB Financial Group will post $8.98 earnings per share for the current year.
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In other SVB Financial Group news, insider Bruce Wallace sold 8,790 shares of SVB Financial Group stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $182.58, for a total transaction of $1,604,878.20. Following the completion of the sale, the insider now owns 14,248 shares of the company’s stock, valued at $2,601,399.84. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Michael Descheneaux sold 7,000 shares of SVB Financial Group stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $184.38, for a total value of $1,290,660.00. Following the sale, the chief financial officer now directly owns 18,419 shares of the company’s stock, valued at approximately $3,396,095.22. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,314 shares of company stock valued at $4,085,570. Corporate insiders own 0.73% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC raised its stake in SVB Financial Group by 12.3% in the fourth quarter. AQR Capital Management LLC now owns 26,600 shares of the bank’s stock worth $4,566,000 after buying an additional 2,920 shares during the period. Norges Bank bought a new stake in SVB Financial Group during the fourth quarter worth $67,877,000. Teachers Advisors LLC raised its stake in SVB Financial Group by 14.0% in the fourth quarter. Teachers Advisors LLC now owns 128,661 shares of the bank’s stock worth $22,086,000 after buying an additional 15,814 shares during the period. Swarthmore Group Inc. bought a new stake in SVB Financial Group during the first quarter worth $14,683,000. Finally, Fulton Bank N.A. raised its stake in SVB Financial Group by 1.7% in the first quarter. Fulton Bank N.A. now owns 5,836 shares of the bank’s stock worth $1,086,000 after buying an additional 96 shares during the period. 95.12% of the stock is owned by institutional investors.
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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