SVB Financial Group (NASDAQ:SIVB) has been assigned a consensus rating of “Buy” from the twenty-two ratings firms that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $321.25.
SIVB has been the topic of a number of recent research reports. SunTrust Banks cut their price target on shares of SVB Financial Group from $350.00 to $270.00 and set an “average” rating on the stock in a research note on Monday, October 29th. They noted that the move was a valuation call. Bank of America lowered their price target on SVB Financial Group from $400.00 to $350.00 and set a “buy” rating for the company in a report on Friday, October 26th. Royal Bank of Canada set a $330.00 price objective on SVB Financial Group and gave the company a “buy” rating in a research note on Friday, October 26th. DA Davidson upgraded SVB Financial Group from a “neutral” rating to a “buy” rating and set a $345.00 price objective for the company in a research note on Friday, October 26th. Finally, Zacks Investment Research upgraded SVB Financial Group from a “hold” rating to a “buy” rating and set a $357.00 price target for the company in a research note on Tuesday, October 9th.
SVB Financial Group stock traded up $7.29 during trading on Friday, reaching $226.00. The company had a trading volume of 29,985 shares, compared to its average volume of 620,142. SVB Financial Group has a 1-year low of $177.70 and a 1-year high of $333.74. The stock has a market capitalization of $11.49 billion, a P/E ratio of 22.83, a P/E/G ratio of 1.05 and a beta of 1.87. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.63 and a current ratio of 0.63.
SVB Financial Group declared that its Board of Directors has approved a share repurchase plan on Tuesday, November 13th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the bank to reacquire up to 3.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
In related news, insider Michael Descheneaux sold 1,750 shares of the business’s stock in a transaction dated Thursday, November 1st. The stock was sold at an average price of $239.73, for a total transaction of $419,527.50. Following the completion of the transaction, the insider now owns 18,289 shares of the company’s stock, valued at approximately $4,384,421.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Philip C. Cox sold 620 shares of the business’s stock in a transaction dated 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 directly owns 6,511 shares of the company’s stock, valued at approximately $1,555,868.56. The disclosure for this sale can be found here. 0.74% of the stock is owned by insiders.
Hedge funds have recently added to or reduced their stakes in the company. First Hawaiian Bank bought a new stake in SVB Financial Group during the 3rd quarter worth approximately $2,039,000. KAMES CAPITAL plc raised its stake in SVB Financial Group by 1.0% during the 3rd quarter. KAMES CAPITAL plc now owns 234,147 shares of the bank’s stock worth $72,768,000 after buying an additional 2,259 shares during the period. Bank of New York Mellon Corp raised its stake in SVB Financial Group by 16.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,525,038 shares of the bank’s stock worth $474,028,000 after buying an additional 219,000 shares during the period. Legal & General Group Plc raised its stake in SVB Financial Group by 1.0% during the 3rd quarter. Legal & General Group Plc now owns 222,871 shares of the bank’s stock worth $69,275,000 after buying an additional 2,209 shares during the period. Finally, Sumitomo Life Insurance Co. bought a new position in SVB Financial Group during the 3rd quarter worth about $1,481,000. Institutional investors own 88.13% of the company’s stock.
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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