SVB Financial Group (SIVB) Upgraded to Top Pick by Barclays PLC
Barclays PLC upgraded shares of SVB Financial Group (NASDAQ:SIVB) from an overweight rating to a top pick rating in a report published on Wednesday. They currently have $150.00 target price on the stock, up from their previous target price of $139.00.
“well about average.”There is potential for Signature’s provision and expenses to “favorably surprise.”Related Link: John Stumpf’s Decision To Forgo $41 Million In Pay Is A “Good First Effort”Keating said he sees Signature’s loan growth at 15 percent in 2017 and 13 percent in 2018, while Barclay’s median forecast growth is 8 percent and 7 percent respectively. “We look for SBNY’s asset and deposit growth to similarly outperform peers,,” the firm’s analyst wrote.
Other research analysts also recently issued reports about the stock. JMP Securities started coverage on shares of SVB Financial Group in a research report on Friday, September 16th. They set an outperform rating and a $130.00 price objective on the stock. Raymond James Financial Inc. reaffirmed a strong-buy rating on shares of SVB Financial Group in a research report on Friday, June 3rd. Morgan Stanley reissued a buy rating on shares of SVB Financial Group in a research report on Tuesday, August 2nd. JPMorgan Chase & Co. decreased their target price on shares of SVB Financial Group from $126.00 to $112.00 and set an overweight rating for the company in a research report on Thursday, July 7th. Finally, Royal Bank Of Canada reissued a buy rating on shares of SVB Financial Group in a research report on Monday, July 11th. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. SVB Financial Group currently has an average rating of Buy and a consensus target price of $132.77.
SVB Financial Group (NASDAQ:SIVB) traded up 0.95% during midday trading on Wednesday, reaching $110.35. 66,709 shares of the company traded hands. The firm has a 50 day moving average of $107.29 and a 200-day moving average of $102.82. SVB Financial Group has a 12 month low of $77.87 and a 12 month high of $141.75. The stock has a market capitalization of $5.74 billion, a price-to-earnings ratio of 16.85 and a beta of 1.73.
SVB Financial Group (NASDAQ:SIVB) last released its quarterly earnings results on Thursday, July 21st. The company reported $1.78 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.70 by $0.08. SVB Financial Group had a net margin of 22.00% and a return on equity of 9.90%. Analysts forecast that SVB Financial Group will post $6.81 EPS for the current fiscal year.
In other SVB Financial Group news, Director Eric Benhamou sold 2,000 shares of the stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $106.38, for a total transaction of $212,760.00. Following the sale, the director now owns 11,897 shares of the company’s stock, valued at approximately $1,265,602.86. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Bruce Wallace sold 2,300 shares of the stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $103.25, for a total transaction of $237,475.00. Following the sale, the insider now directly owns 13,177 shares in the company, valued at approximately $1,360,525.25. The disclosure for this sale can be found here. Company insiders own 0.78% of the company’s stock.
Large investors have recently modified their holdings of the company. Norges Bank bought a new stake in shares of SVB Financial Group during the fourth quarter worth approximately $46,014,000. Commonwealth Equity Services Inc raised its stake in shares of SVB Financial Group by 0.5% in the first quarter. Commonwealth Equity Services Inc now owns 2,836 shares of the company’s stock worth $289,000 after buying an additional 14 shares in the last quarter. Aperio Group LLC raised its stake in shares of SVB Financial Group by 82.2% in the first quarter. Aperio Group LLC now owns 11,545 shares of the company’s stock worth $1,178,000 after buying an additional 5,210 shares in the last quarter. Virginia Retirement System bought a new stake in shares of SVB Financial Group during the first quarter worth approximately $735,000. Finally, Pacad Investment Ltd. bought a new stake in shares of SVB Financial Group during the first quarter worth approximately $1,255,000. 92.23% of the stock is currently owned by hedge funds and other institutional investors.
About SVB Financial Group
SVB Financial Group (SVB Financial) is a diversified financial services, bank holding and financial holding company. The Company operates through three segments: 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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