SVB Financial Group (NASDAQ:SIVB) – Equities research analysts at Jefferies Financial Group lifted their FY2018 earnings per share estimates for shares of SVB Financial Group in a research report issued on Tuesday, January 8th. Jefferies Financial Group analyst C. Haire now anticipates that the bank will post earnings per share of $17.81 for the year, up from their prior forecast of $17.79. Jefferies Financial Group has a “Buy” rating and a $278.00 price objective on the stock. Jefferies Financial Group also issued estimates for SVB Financial Group’s Q4 2018 earnings at $4.66 EPS, Q1 2019 earnings at $4.77 EPS and FY2020 earnings at $21.65 EPS.
Several other brokerages have also recently weighed in on SIVB. ValuEngine raised SVB Financial Group from a “strong sell” rating to a “sell” rating in a report on Wednesday, January 2nd. BidaskClub cut SVB Financial Group from a “hold” rating to a “sell” rating in a report on Tuesday, October 16th. Royal Bank of Canada set a $320.00 price objective on SVB Financial Group and gave the company a “buy” rating in a report on Thursday, December 6th. Barclays raised SVB Financial Group from an “equal weight” rating to an “overweight” rating and set a $236.25 price objective for the company in a report on Wednesday, November 28th. Finally, DA Davidson raised SVB Financial Group from a “neutral” rating to a “buy” rating and set a $345.00 price objective for the company in a report on Friday, October 26th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $323.24.
SVB Financial Group (NASDAQ:SIVB) last released its quarterly earnings results on Thursday, October 25th. The bank reported $5.10 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $4.44 by $0.66. The business had revenue of $703.29 million during the quarter, compared to analysts’ expectations of $664.51 million. SVB Financial Group had a return on equity of 18.39% and a net margin of 32.44%.
Several institutional investors and hedge funds have recently modified their holdings of the company. Park National Corp OH grew its position in SVB Financial Group by 3.9% during the 4th quarter. Park National Corp OH now owns 2,275 shares of the bank’s stock worth $432,000 after acquiring an additional 85 shares during the last quarter. Nelson Roberts Investment Advisors LLC grew its position in SVB Financial Group by 0.7% during the 3rd quarter. Nelson Roberts Investment Advisors LLC now owns 24,518 shares of the bank’s stock worth $7,621,000 after acquiring an additional 171 shares during the last quarter. Morse Asset Management Inc grew its position in SVB Financial Group by 4.1% during the 2nd quarter. Morse Asset Management Inc now owns 5,284 shares of the bank’s stock worth $1,526,000 after acquiring an additional 209 shares during the last quarter. Steward Partners Investment Advisory LLC grew its position in SVB Financial Group by 25.4% during the 3rd quarter. Steward Partners Investment Advisory LLC now owns 1,063 shares of the bank’s stock worth $330,000 after acquiring an additional 215 shares during the last quarter. Finally, EP Wealth Advisors LLC grew its position in SVB Financial Group by 15.2% during the 3rd quarter. EP Wealth Advisors LLC now owns 1,701 shares of the bank’s stock worth $529,000 after acquiring an additional 224 shares during the last quarter. Institutional investors own 88.14% of the company’s stock.
In other news, insider Philip C. Cox sold 620 shares of SVB Financial Group stock in a transaction on Wednesday, November 28th. The stock was sold at an average price of $238.96, for a total value of $148,155.20. Following the transaction, the insider now owns 6,511 shares in the company, valued at approximately $1,555,868.56. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Michael Descheneaux sold 1,750 shares of SVB Financial Group stock in a transaction on Thursday, November 1st. The shares were sold at an average price of $239.73, for a total value of $419,527.50. Following the completion of the transaction, the insider now owns 18,289 shares in the company, valued at approximately $4,384,421.97. The disclosure for this sale can be found here. Company insiders own 0.74% of the company’s stock.
SVB Financial Group announced that its Board of Directors has authorized a share repurchase program on Tuesday, November 13th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the bank to reacquire up to 3.9% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.
SVB Financial Group Company Profile
SVB Financial Group, a diversified financial services company, provides various banking and financial products and services. Its Global Commercial Bank segment offers deposit products, such as business and analysis checking, money market, multi-currency, in-country bank, and sweep accounts, as well as merchant, remote capture, lockbox, electronic deposit capture, and fraud control services; credit products and services comprising term loans, equipment loans, asset-based loans, revolving lines of credit, accounts-receivable-based lines of credit, capital call lines of credit, and credit cards; and payment and cash management products and services, including wire transfer and automated clearing house payment, bill pay, debit card account analysis, and disbursement, as well as online and mobile banking services.
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