Wells Fargo & Co reissued their outperform rating on shares of SVB Financial Group (NASDAQ:SIVB) in a research note released on Tuesday, January 9th, The Fly reports. They currently have a $280.00 target price on the bank’s stock, up from their prior target price of $240.00.
A number of other research firms have also commented on SIVB. SunTrust Banks restated a buy rating and set a $280.00 price target on shares of SVB Financial Group in a research report on Wednesday, January 3rd. Zacks Investment Research upgraded SVB Financial Group from a hold rating to a buy rating and set a $271.00 price target on the stock in a research report on Wednesday, December 27th. Barclays increased their price target on SVB Financial Group from $217.00 to $251.00 and gave the stock an equal weight rating in a research report on Tuesday, January 2nd. ValuEngine lowered SVB Financial Group from a buy rating to a hold rating in a research report on Friday, December 1st. Finally, Maxim Group restated a buy rating and set a $250.00 price target (up from $220.00) on shares of SVB Financial Group in a research report on Monday, October 30th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $239.92.
Shares of SVB Financial Group (NASDAQ SIVB) traded down $0.47 on Tuesday, reaching $246.55. The company had a trading volume of 373,700 shares, compared to its average volume of 447,002. SVB Financial Group has a 1 year low of $159.44 and a 1 year high of $263.09. The company has a market capitalization of $13,000.00, a price-to-earnings ratio of 26.80, a price-to-earnings-growth ratio of 1.64 and a beta of 1.62. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.16.
SVB Financial Group (NASDAQ:SIVB) last released its quarterly earnings data on Thursday, January 25th. The bank reported $2.19 earnings per share for the quarter, missing the consensus estimate of $2.60 by ($0.41). SVB Financial Group had a net margin of 24.25% and a return on equity of 12.83%. The company had revenue of $545.97 million during the quarter, compared to the consensus estimate of $523.45 million. During the same quarter in the prior year, the company posted $1.89 earnings per share. equities research analysts expect that SVB Financial Group will post 13.85 earnings per share for the current fiscal year.
In other news, Director Eric Benhamou sold 2,000 shares of SVB Financial Group stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $226.01, for a total value of $452,020.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gregory W. Becker sold 9,511 shares of SVB Financial Group stock in a transaction that occurred on Tuesday, December 5th. The shares were sold at an average price of $232.68, for a total transaction of $2,213,019.48. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,401 shares of company stock valued at $3,922,540. Corporate insiders own 0.73% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of SIVB. Toronto Dominion Bank lifted its holdings in shares of SVB Financial Group by 525.6% during the second quarter. Toronto Dominion Bank now owns 782 shares of the bank’s stock worth $137,000 after purchasing an additional 657 shares during the period. Tredje AP fonden acquired a new position in shares of SVB Financial Group during the second quarter worth $144,000. TLP Group LLC lifted its holdings in shares of SVB Financial Group by 2,930.3% during the second quarter. TLP Group LLC now owns 1,000 shares of the bank’s stock worth $176,000 after purchasing an additional 967 shares during the period. Pacer Advisors Inc. lifted its holdings in shares of SVB Financial Group by 9.2% during the second quarter. Pacer Advisors Inc. now owns 1,031 shares of the bank’s stock worth $181,000 after purchasing an additional 87 shares during the period. Finally, Green Square Capital LLC acquired a new position in shares of SVB Financial Group during the third quarter worth $206,000. 91.72% of the stock is currently owned by hedge funds and other institutional investors.
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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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