SVB Financial Group (SIVB) Rating Reiterated by Wells Fargo & Co

Wells Fargo & Co reissued their outperform rating on shares of SVB Financial Group (NASDAQ:SIVB) in a research report report published on Tuesday morning, The Fly reports. They currently have a $280.00 price target on the bank’s stock, up from their previous price target of $240.00.

Several other equities research analysts have also recently commented on SIVB. ValuEngine cut SVB Financial Group from a buy rating to a hold rating in a research note on Monday, October 2nd. Zacks Investment Research cut SVB Financial Group from a hold rating to a sell rating in a research note on Tuesday, October 3rd. Morgan Stanley reissued an overweight rating and issued a $213.00 price target (up previously from $210.00) on shares of SVB Financial Group in a research note on Wednesday, October 4th. Maxim Group reissued a buy rating and issued a $250.00 price target (up previously from $220.00) on shares of SVB Financial Group in a research note on Monday, October 30th. Finally, Barclays set a $217.00 price target on SVB Financial Group and gave the company a hold rating in a research note on Monday, October 30th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $229.29.

Shares of SVB Financial Group (NASDAQ:SIVB) traded up $2.76 during midday trading on Tuesday, hitting $249.65. The company had a trading volume of 299,849 shares, compared to its average volume of 410,071. The company has a market cap of $13,170.00, a PE ratio of 28.05, a price-to-earnings-growth ratio of 1.82 and a beta of 1.62. SVB Financial Group has a 1-year low of $159.44 and a 1-year high of $254.10. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.18.

SVB Financial Group (NASDAQ:SIVB) last announced its quarterly earnings results on Thursday, October 26th. The bank reported $2.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.29 by $0.50. The business had revenue of $533.40 million during 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 firm’s quarterly revenue was up 23.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.12 EPS. analysts predict that SVB Financial Group will post 9.64 EPS for the current fiscal year.

In related news, Director Eric Benhamou sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $226.01, for a total value of $452,020.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gregory W. Becker sold 9,511 shares of the business’s stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $232.68, for a total value of $2,213,019.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,291 shares of company stock valued at $4,558,918. Corporate insiders own 0.73% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of SIVB. Oakbrook Investments LLC lifted its holdings in shares of SVB Financial Group by 84.3% during the third quarter. Oakbrook Investments LLC now owns 4,100 shares of the bank’s stock worth $767,000 after buying an additional 1,875 shares during the last quarter. Strs Ohio lifted its holdings in shares of SVB Financial Group by 4.3% during the third quarter. Strs Ohio now owns 407,764 shares of the bank’s stock worth $76,288,000 after buying an additional 16,811 shares during the last quarter. Icon Advisers Inc. Co. lifted its holdings in shares of SVB Financial Group by 56.6% during the second quarter. Icon Advisers Inc. Co. now owns 42,880 shares of the bank’s stock worth $7,538,000 after buying an additional 15,500 shares during the last quarter. Clinton Group Inc. acquired a new position in shares of SVB Financial Group during the second quarter worth approximately $393,000. Finally, Nationwide Fund Advisors lifted its holdings in shares of SVB Financial Group by 1.2% during the second quarter. Nationwide Fund Advisors now owns 118,787 shares of the bank’s stock worth $20,882,000 after buying an additional 1,450 shares during the last quarter. Hedge funds and other institutional investors 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.

The Fly

Analyst Recommendations for SVB Financial Group (NASDAQ:SIVB)

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