SVB Financial Group (NASDAQ:SIVB)‘s stock had its “outperform” rating reiterated by analysts at Wells Fargo & Company in a note issued to investors on Thursday. They currently have a $240.00 price target on the bank’s stock, up from their prior price target of $215.00. Wells Fargo & Company’s target price suggests a potential upside of 14.90% from the stock’s previous close.
Several other equities research analysts have also recently weighed in on the stock. Zacks Investment Research upgraded shares of SVB Financial Group from a “hold” rating to a “buy” rating and set a $247.00 price objective for the company in a research report on Tuesday, October 31st. Barclays PLC set a $217.00 price target on shares of SVB Financial Group and gave the stock a “hold” rating in a research report on Monday, October 30th. Maxim Group reiterated a “buy” rating and set a $250.00 price target (up previously from $220.00) on shares of SVB Financial Group in a research report on Monday, October 30th. Morgan Stanley reiterated an “overweight” rating and set a $213.00 price target (up previously from $210.00) on shares of SVB Financial Group in a research report on Wednesday, October 4th. Finally, ValuEngine cut shares of SVB Financial Group from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $214.00.
Shares of SVB Financial Group (NASDAQ:SIVB) traded up $0.65 during mid-day trading on Thursday, reaching $208.88. 278,700 shares of the company traded hands, compared to its average volume of 494,969. SVB Financial Group has a 12-month low of $138.16 and a 12-month high of $223.82. The company has a market cap of $10,982.20, a P/E ratio of 23.37, a P/E/G ratio of 1.99 and a beta of 1.64. The company has a quick ratio of 0.60, a current ratio of 0.59 and a debt-to-equity ratio of 0.18.
SVB Financial Group (NASDAQ:SIVB) last posted its quarterly earnings data on Thursday, October 26th. The bank reported $2.79 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.50. The firm had revenue of $533.40 million during the quarter, compared to analysts’ expectations of $490.56 million. SVB Financial Group had a net margin of 25.07% and a return on equity of 11.88%. The company’s quarterly revenue was up 23.0% compared to the same quarter last year. During the same quarter last year, the company posted $2.12 EPS. equities research analysts predict that SVB Financial Group will post 9.5 earnings per share for the current year.
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In other news, insider Marc C. Cadieux sold 2,260 shares of the business’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $219.34, for a total value of $495,708.40. Following the sale, the insider now owns 15,971 shares of the company’s stock, valued at $3,503,079.14. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Eric Benhamou sold 2,000 shares of the business’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $172.01, for a total transaction of $344,020.00. Following the completion of the sale, the director now directly owns 6,672 shares in the company, valued at approximately $1,147,650.72. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,150 shares of company stock worth $1,476,106. Insiders own 0.73% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. BDO Wealth Advisors LLC bought a new stake in shares of SVB Financial Group in the second quarter worth $109,000. Exane Derivatives acquired a new position in SVB Financial Group during the second quarter worth $119,000. Peddock Capital Advisors LLC acquired a new position in SVB Financial Group during the second quarter worth $130,000. Whittier Trust Co. of Nevada Inc. increased its holdings in SVB Financial Group by 79.6% during the second 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 during the last quarter. Finally, Global X Management Co. LLC increased its holdings in SVB Financial Group by 58.6% during the second quarter. Global X Management Co. LLC now owns 782 shares of the bank’s stock worth $137,000 after buying an additional 289 shares during the last quarter. 92.13% of the stock is currently owned by institutional investors and hedge funds.
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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