SVB Financial Group (SIVB) Upgraded to Buy at Zacks Investment Research

SVB Financial Group (NASDAQ:SIVB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday. The firm presently has a $271.00 price objective on the bank’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 14.75% from the company’s previous close.

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 remains well positioned to capitalize on future opportunities driven by sturdy capital position, an improved rate scenario, global expansion efforts and consistent growth in loans and deposits. Also, its focus on improving non-interest income is expected to support top-line growth. However, mounting operating expenses and domestic concentration will likely weigh on its performance in the near-term.”

A number of other equities analysts have also weighed in on SIVB. ValuEngine lowered SVB Financial Group from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Morgan Stanley reissued an “overweight” rating and set a $213.00 target price (up from $210.00) on shares of SVB Financial Group in a research note on Wednesday, October 4th. Maxim Group reissued a “buy” rating and set a $250.00 target price (up from $220.00) on shares of SVB Financial Group in a research note on Monday, October 30th. Barclays set a $217.00 target price on SVB Financial Group and gave the stock a “hold” rating in a research note on Monday, October 30th. Finally, Wells Fargo & Co reissued an “outperform” rating and set a $240.00 target price (up from $215.00) on shares of SVB Financial Group in a research note on Thursday, November 9th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $217.93.

Shares of SVB Financial Group (SIVB) traded down $5.53 on Wednesday, hitting $236.17. The stock had a trading volume of 304,800 shares, compared to its average volume of 489,612. The stock has a market cap of $12,460.00, a PE ratio of 26.54, a price-to-earnings-growth ratio of 2.30 and a beta of 1.62. SVB Financial Group has a twelve month low of $159.44 and a twelve month high of $242.92. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.18.

SVB Financial Group (NASDAQ:SIVB) last issued its quarterly earnings data on Thursday, October 26th. The bank reported $2.79 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.29 by $0.50. The business had revenue of $533.40 million for the quarter, compared to analysts’ expectations of $490.56 million. SVB Financial Group had a return on equity of 11.88% and a net margin of 25.07%. The company’s revenue for the quarter was up 23.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.12 EPS. analysts expect that SVB Financial Group will post 9.57 earnings per share for the current year.

In other SVB Financial Group news, insider Marc C. Cadieux sold 2,260 shares of the stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $219.34, for a total transaction of $495,708.40. Following the sale, the insider now owns 15,971 shares in the company, valued at approximately $3,503,079.14. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Eric Benhamou sold 2,000 shares of the stock in a transaction on Friday, December 1st. The shares were sold at an average price of $226.01, for a total value of $452,020.00. The disclosure for this sale can be found here. Insiders sold a total of 20,291 shares of company stock valued at $4,558,918 over the last ninety days. 0.73% of the stock is currently owned by company insiders.

Several hedge funds have recently bought and sold shares of SIVB. Toronto Dominion Bank boosted its stake in SVB Financial Group by 525.6% in the second quarter. Toronto Dominion Bank now owns 782 shares of the bank’s stock valued at $137,000 after acquiring an additional 657 shares during the period. Tredje AP fonden bought a new position in shares of SVB Financial Group in the second quarter valued at $144,000. TLP Group LLC increased its holdings in shares of SVB Financial Group by 2,930.3% in the second quarter. TLP Group LLC now owns 1,000 shares of the bank’s stock valued at $176,000 after buying an additional 967 shares in the last quarter. Pacer Advisors Inc. increased its holdings in shares of SVB Financial Group by 9.2% in the second quarter. Pacer Advisors Inc. now owns 1,031 shares of the bank’s stock valued at $181,000 after buying an additional 87 shares in the last quarter. Finally, Green Square Capital LLC bought a new position in shares of SVB Financial Group in the third quarter valued at $206,000. Institutional investors and hedge funds own 91.45% of the company’s stock.

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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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