SVB Financial Group (SIVB) Upgraded by ValuEngine to “Buy”

ValuEngine upgraded shares of SVB Financial Group (NASDAQ:SIVB) from a hold rating to a buy rating in a research note released on Thursday.

Several other research firms have also issued reports on SIVB. Stephens reaffirmed a buy rating on shares of SVB Financial Group in a research report on Thursday, April 27th. BidaskClub raised shares of SVB Financial Group from a buy rating to a strong-buy rating in a research report on Wednesday, June 14th. Barclays PLC reaffirmed an equal weight rating and set a $191.00 price target (up from $188.00) on shares of SVB Financial Group in a research report on Wednesday, July 12th. Keefe, Bruyette & Woods reaffirmed a buy rating and set a $195.00 price target on shares of SVB Financial Group in a research report on Friday, July 14th. Finally, Piper Jaffray Companies reaffirmed a buy rating and set a $212.00 price target on shares of SVB Financial Group in a research report on Friday, July 14th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock has an average rating of Buy and an average target price of $202.75.

SVB Financial Group (SIVB) traded up 0.54% on Thursday, hitting $167.19. 263,220 shares of the stock were exchanged. The company has a 50 day moving average of $179.10 and a 200 day moving average of $181.04. The stock has a market capitalization of $8.81 billion, a P/E ratio of 20.32 and a beta of 1.59. SVB Financial Group has a one year low of $103.12 and a one year high of $198.83.

SVB Financial Group (NASDAQ:SIVB) last posted its quarterly earnings results on Thursday, July 27th. The bank reported $2.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.05 by $0.27. SVB Financial Group had a net margin of 24.36% and a return on equity of 11.27%. The firm had revenue of $471.70 million for the quarter, compared to analyst estimates of $451.96 million. During the same period in the prior year, the firm posted $1.78 earnings per share. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. On average, equities research analysts forecast that SVB Financial Group will post $8.99 earnings per share for the current fiscal year.

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In related news, insider Michael Descheneaux sold 3,500 shares of the firm’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $182.07, for a total transaction of $637,245.00. Following the transaction, the insider now directly owns 14,064 shares of the company’s stock, valued at $2,560,632.48. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Philip C. Cox sold 3,024 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $182.80, for a total transaction of $552,787.20. Following the transaction, the insider now directly owns 2,872 shares in the company, valued at $525,001.60. The disclosure for this sale can be found here. 0.73% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the company. Credit Agricole S A raised its position in SVB Financial Group by 924.5% in the first quarter. Credit Agricole S A now owns 1,128,284 shares of the bank’s stock worth $44,547,000 after buying an additional 1,018,151 shares in the last quarter. Columbus Circle Investors acquired a new position in SVB Financial Group during the first quarter worth approximately $51,840,000. Karp Capital Management Corp acquired a new position in SVB Financial Group during the first quarter worth approximately $2,853,000. American International Group Inc. raised its position in SVB Financial Group by 4.1% in the first quarter. American International Group Inc. now owns 104,418 shares of the bank’s stock worth $19,431,000 after buying an additional 4,133 shares in the last quarter. Finally, First Manhattan Co. raised its position in SVB Financial Group by 23.7% in the first quarter. First Manhattan Co. now owns 3,000 shares of the bank’s stock worth $331,000 after buying an additional 575 shares in the last quarter. 95.52% of the stock is currently owned by institutional investors and hedge funds.

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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