SVB Financial Group (NASDAQ:SIVB) Rating Lowered to Buy at BidaskClub

BidaskClub cut shares of SVB Financial Group (NASDAQ:SIVB) from a strong-buy rating to a buy rating in a report published on Monday, July 24th.

A number of other research analysts have also commented on SIVB. Keefe, Bruyette & Woods reaffirmed a buy rating and set a $195.00 price objective on shares of SVB Financial Group in a research report on Friday, July 14th. Morgan Stanley raised their price objective on shares of SVB Financial Group from $208.00 to $210.00 and gave the stock an overweight rating in a report on Tuesday, June 6th. Zacks Investment Research upgraded shares of SVB Financial Group from a hold rating to a buy rating and set a $197.00 price target on the stock in a research note on Tuesday, July 4th. Jefferies Group LLC reiterated a buy rating and issued a $216.00 price target on shares of SVB Financial Group in a research note on Sunday, June 11th. Finally, Barclays PLC lifted 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 research note on Friday, April 7th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $202.75.

Shares of SVB Financial Group (NASDAQ:SIVB) opened at 166.59 on Monday. SVB Financial Group has a 52-week low of $103.12 and a 52-week high of $198.83. The stock has a market capitalization of $8.78 billion, a PE ratio of 20.25 and a beta of 1.59. The stock has a 50 day moving average price of $178.79 and a 200-day moving average price of $180.98.

SVB Financial Group (NASDAQ:SIVB) last released its quarterly earnings results on Thursday, July 27th. The bank reported $2.32 earnings per share (EPS) for the quarter, beating the Zacks’ 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 company had revenue of $471.70 million during the quarter, compared to analysts’ expectations of $451.96 million. During the same period in the prior year, the company earned $1.78 earnings per share. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. On average, equities research analysts anticipate that SVB Financial Group will post $8.99 EPS for the current fiscal year.

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In other news, insider Philip C. Cox sold 3,024 shares of the company’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $182.80, for a total value of $552,787.20. Following the sale, the insider now directly owns 2,872 shares of the company’s stock, valued at approximately $525,001.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Michael Descheneaux sold 3,500 shares of the stock in a transaction on Wednesday, August 2nd. The stock was 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 in the company, valued at $2,560,632.48. The disclosure for this sale can be found here. Corporate insiders own 0.73% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Teachers Advisors LLC increased its stake in shares of SVB Financial Group by 14.0% in the fourth quarter. Teachers Advisors LLC now owns 128,661 shares of the bank’s stock valued at $22,086,000 after buying an additional 15,814 shares in the last quarter. Swarthmore Group Inc. purchased a new stake in shares of SVB Financial Group during the first quarter valued at approximately $14,683,000. Fulton Bank N.A. increased its stake in shares of SVB Financial Group by 1.7% in the first quarter. Fulton Bank N.A. now owns 5,836 shares of the bank’s stock valued at $1,086,000 after buying an additional 96 shares in the last quarter. Peregrine Capital Management LLC increased its stake in shares of SVB Financial Group by 7.3% in the first quarter. Peregrine Capital Management LLC now owns 195,467 shares of the bank’s stock valued at $35,340,000 after buying an additional 13,251 shares in the last quarter. Finally, Raymond James Trust N.A. purchased a new stake in shares of SVB Financial Group during the first quarter valued at approximately $273,000. Hedge funds and other institutional investors own 95.52% of the company’s stock.

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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