SVB Financial Group (NASDAQ:SIVB) was the target of a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 1,125,100 shares, an increase of 11.5% from the July 31st total of 1,009,100 shares. Based on an average daily trading volume, of 534,800 shares, the short-interest ratio is currently 2.1 days. Approximately 2.2% of the shares of the company are short sold.
A number of equities analysts have issued reports on the stock. Maxim Group reaffirmed a “buy” rating and issued a $300.00 price objective (down from $325.00) on shares of SVB Financial Group in a research note on Monday, July 29th. SunTrust Banks dropped their price objective on shares of SVB Financial Group to $260.00 and set a “buy” rating on the stock in a report on Monday, July 29th. BidaskClub upgraded shares of SVB Financial Group from a “sell” rating to a “hold” rating in a research note on Tuesday, September 10th. Morgan Stanley lowered their price target on shares of SVB Financial Group from $310.00 to $280.00 and set an “overweight” rating on the stock in a research note on Monday, July 1st. Finally, Royal Bank of Canada set a $280.00 price objective on shares of SVB Financial Group and gave the stock a “buy” rating in a research note on Friday, July 26th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $272.09.
In other news, insider Michael Descheneaux sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $201.19, for a total transaction of $603,570.00. Following the completion of the sale, the insider now owns 21,438 shares of the company’s stock, valued at $4,313,111.22. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Philip C. Cox sold 197 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $227.45, for a total transaction of $44,807.65. Following the sale, the chief operating officer now directly owns 8,185 shares of the company’s stock, valued at approximately $1,861,678.25. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,547 shares of company stock valued at $1,189,038. 0.73% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of SIVB. Invesco Ltd. increased its position in SVB Financial Group by 122.0% during the 2nd quarter. Invesco Ltd. now owns 1,425,010 shares of the bank’s stock valued at $320,042,000 after purchasing an additional 783,083 shares during the period. Royal Bank of Canada lifted its stake in SVB Financial Group by 20.4% during the 2nd quarter. Royal Bank of Canada now owns 1,038,148 shares of the bank’s stock valued at $233,157,000 after acquiring an additional 175,687 shares during the period. Fisher Asset Management LLC lifted its stake in SVB Financial Group by 0.7% during the 2nd quarter. Fisher Asset Management LLC now owns 1,017,094 shares of the bank’s stock valued at $228,429,000 after acquiring an additional 7,245 shares during the period. Neuberger Berman Group LLC increased its position in shares of SVB Financial Group by 1.8% during the 1st quarter. Neuberger Berman Group LLC now owns 855,182 shares of the bank’s stock valued at $190,159,000 after purchasing an additional 15,374 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of SVB Financial Group by 5.0% during the 4th quarter. Geode Capital Management LLC now owns 713,667 shares of the bank’s stock valued at $135,307,000 after purchasing an additional 33,689 shares during the last quarter. 92.12% of the stock is currently owned by institutional investors.
Shares of SIVB stock traded up $6.25 during trading hours on Friday, reaching $224.01. The stock had a trading volume of 583,498 shares, compared to its average volume of 438,454. The stock’s fifty day simple moving average is $203.53 and its 200 day simple moving average is $223.91. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.12. SVB Financial Group has a 12 month low of $177.70 and a 12 month high of $330.50. The firm has a market capitalization of $11.22 billion, a PE ratio of 12.29, a PEG ratio of 1.37 and a beta of 2.14.
SVB Financial Group (NASDAQ:SIVB) last announced its earnings results on Thursday, July 25th. The bank reported $6.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.98 by $1.10. SVB Financial Group had a net margin of 35.83% and a return on equity of 21.44%. The business had revenue of $863.15 million during the quarter, compared to analyst estimates of $787.38 million. During the same period in the previous year, the business posted $4.42 earnings per share. As a group, equities research analysts anticipate that SVB Financial Group will post 21.25 EPS for the current fiscal year.
About SVB Financial Group
SVB Financial Group, a diversified financial services company, provides various banking and financial products and services. The company operates through three segments: Global Commercial Bank, SVB Private Bank, and SVB Capital. The 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 and credit cards, account analysis, and disbursement, as well as online and mobile banking services.
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