SVB Financial Group (NASDAQ:SIVB) Cut to Market Perform at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods lowered shares of SVB Financial Group (NASDAQ:SIVBGet Rating) from an outperform rating to a market perform rating in a research note published on Wednesday morning. The firm currently has $450.00 target price on the bank’s stock, down from their prior target price of $600.00.

A number of other research firms have also recently commented on SIVB. Morgan Stanley dropped their target price on shares of SVB Financial Group from $523.00 to $493.00 and set an overweight rating for the company in a report on Friday, July 22nd. Argus upgraded shares of SVB Financial Group from a hold rating to a buy rating and set a $550.00 price objective for the company in a report on Wednesday, May 4th. They noted that the move was a valuation call. Raymond James dropped their price objective on shares of SVB Financial Group from $565.00 to $480.00 in a report on Friday, July 22nd. The Goldman Sachs Group dropped their price objective on shares of SVB Financial Group from $674.00 to $554.50 and set a buy rating for the company in a report on Tuesday, May 31st. Finally, Stephens dropped their price objective on shares of SVB Financial Group from $540.00 to $480.00 in a report on Friday, July 22nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, SVB Financial Group currently has a consensus rating of Moderate Buy and an average target price of $574.73.

SVB Financial Group Stock Down 0.7 %

SIVB stock opened at $413.21 on Wednesday. The stock has a market capitalization of $24.32 billion, a P/E ratio of 15.90, a price-to-earnings-growth ratio of 1.70 and a beta of 1.75. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 0.27. SVB Financial Group has a 12 month low of $355.37 and a 12 month high of $763.22. The firm has a 50-day moving average price of $419.74 and a 200-day moving average price of $502.14.

SVB Financial Group (NASDAQ:SIVBGet Rating) last posted its earnings results on Thursday, July 21st. The bank reported $5.60 EPS for the quarter, missing analysts’ consensus estimates of $7.76 by ($2.16). SVB Financial Group had a return on equity of 13.43% and a net margin of 25.58%. During the same quarter in the prior year, the firm posted $9.09 earnings per share. As a group, equities research analysts anticipate that SVB Financial Group will post 30.59 EPS for the current fiscal year.

Insider Transactions at SVB Financial Group

In related news, Director Garen K. Staglin sold 500 shares of SVB Financial Group stock in a transaction on Tuesday, June 7th. The shares were sold at an average price of $484.41, for a total value of $242,205.00. Following the completion of the sale, the director now owns 13,680 shares of the company’s stock, valued at approximately $6,626,728.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.62% of the company’s stock.

Institutional Trading of SVB Financial Group

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in SVB Financial Group by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 6,346,725 shares of the bank’s stock valued at $3,550,675,000 after acquiring an additional 92,553 shares in the last quarter. BlackRock Inc. lifted its stake in SVB Financial Group by 3.0% during the 1st quarter. BlackRock Inc. now owns 5,302,020 shares of the bank’s stock valued at $2,966,216,000 after acquiring an additional 154,048 shares in the last quarter. State Street Corp lifted its stake in SVB Financial Group by 0.7% during the 1st quarter. State Street Corp now owns 2,932,895 shares of the bank’s stock valued at $1,640,808,000 after acquiring an additional 20,340 shares in the last quarter. Capital International Investors lifted its stake in SVB Financial Group by 28.0% during the 1st quarter. Capital International Investors now owns 2,449,195 shares of the bank’s stock valued at $1,370,224,000 after acquiring an additional 535,924 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in SVB Financial Group by 3.6% during the 1st quarter. JPMorgan Chase & Co. now owns 2,364,708 shares of the bank’s stock valued at $1,322,935,000 after acquiring an additional 81,377 shares in the last quarter. Institutional investors and hedge funds own 88.80% of the company’s stock.

About SVB Financial Group

(Get Rating)

SVB Financial Group, a diversified financial services company, offers various banking and financial products and services. It operates through four segments: Global Commercial Bank, SVB Private Bank, SVB Capital, and SVB Securities. The Global Commercial Bank segment provides commercial banking products and services, including credit, treasury management, foreign exchange, trade finance, and other financial products and services.

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Analyst Recommendations for SVB Financial Group (NASDAQ:SIVB)

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