Zacks Investment Research upgraded shares of SVB Financial Group (NASDAQ:SIVB) from a hold rating to a buy rating in a report published on Tuesday morning. They currently have $247.00 price objective on the bank’s stock.
According to Zacks, “Shares of SVB Financial have significantly outperformed the industry over the past six months. The performance was supported by impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in all the trailing four quarters. The company’s third quarter 2017 results benefited from higher revenues, while increase expenses and credit costs were the headwinds. The company remains well positioned to capitalize on future opportunities driven by sturdy capital position and consistent growth in loans and deposits. Also, its focus on improving non-interest income is expected to support top-line growth. While mounting expenses and deteriorating asset quality remain major concerns, the bank remains well positioned to benefit from an improved rate scenario and global expansion efforts.”
SIVB has been the topic of several other research reports. Barclays PLC set a $217.00 price target on shares of SVB Financial Group and gave the stock a hold rating in a report on Monday, October 30th. ValuEngine upgraded shares of SVB Financial Group from a hold rating to a buy rating in a research report on Thursday, August 17th. Maxim Group reiterated a buy rating and set a $250.00 target price (up from $220.00) on shares of SVB Financial Group in a report on Monday, October 30th. Stephens reiterated a buy rating and set a $205.00 target price on shares of SVB Financial Group in a report on Friday, July 28th. Finally, Piper Jaffray Companies reiterated a buy rating and set a $212.00 target price on shares of SVB Financial Group in a report on Friday, July 14th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. SVB Financial Group presently has an average rating of Buy and an average price target of $211.83.
SVB Financial Group (NASDAQ:SIVB) traded up $0.60 during midday trading on Tuesday, hitting $219.52. 363,871 shares of the company traded hands, compared to its average volume of 430,218. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.60 and a current ratio of 0.59. The company has a market cap of $11,570.00, a price-to-earnings ratio of 24.57, a PEG ratio of 2.09 and a beta of 1.63. SVB Financial Group has a 1 year low of $116.59 and a 1 year high of $223.82.
SVB Financial Group (NASDAQ:SIVB) last released its quarterly earnings results on Thursday, October 26th. The bank reported $2.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.50. SVB Financial Group had a return on equity of 11.88% and a net margin of 25.07%. The business had revenue of $533.40 million during the quarter, compared to the consensus estimate of $490.56 million. During the same quarter in the previous year, the business earned $2.12 EPS. The company’s quarterly revenue was up 23.0% on a year-over-year basis. analysts anticipate that SVB Financial Group will post 9.5 EPS for the current year.
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In other news, Director Eric Benhamou sold 2,000 shares of the stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $172.01, for a total value of $344,020.00. Following the completion of the sale, the director now directly owns 6,672 shares in the company, valued at $1,147,650.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Kamran F. Husain sold 2,890 shares of the firm’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $220.20, for a total transaction of $636,378.00. Following the sale, the insider now owns 890 shares of the company’s stock, valued at $195,978. The disclosure for this sale can be found here. Corporate insiders own 0.73% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. BDO Wealth Advisors LLC acquired a new position in SVB Financial Group in the 2nd quarter valued at $109,000. Exane Derivatives purchased a new stake in shares of SVB Financial Group during the 2nd quarter worth $119,000. Peddock Capital Advisors LLC purchased a new stake in shares of SVB Financial Group in the 2nd quarter worth about $130,000. Whittier Trust Co. of Nevada Inc. boosted its position in shares of SVB Financial Group by 79.6% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 774 shares of the bank’s stock worth $136,000 after buying an additional 343 shares in the last quarter. Finally, Global X Management Co. LLC raised its stake in SVB Financial Group by 58.6% in the 2nd quarter. Global X Management Co. LLC now owns 782 shares of the bank’s stock valued at $137,000 after purchasing an additional 289 shares during the last quarter. Institutional investors own 92.08% 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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