SVB Financial Group (SIVB) Upgraded to Buy by Zacks Investment Research
SVB Financial Group (NASDAQ:SIVB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Friday. The brokerage presently has a $132.00 price objective on the stock. Zacks Investment Research’s price objective suggests a potential upside of 12.27% from the company’s current price.
According to Zacks, “Estimates have been rising ahead of SVB Financial’s third-quarter 2016 earnings release. Further, the company has a positive record of earnings surprises in recent quarters. Moreover, it remains well positioned to capitalize on future opportunities on the back of its sturdy capital position and continuous favorable change in deposit mix. In addition, consistent growth in loans and deposits as well as focus on improving non-interest income will likely accelerate top-line growth. Also, the company has been continuously lowering its long-term debt, which in turn will lead to lower interest expenses and an improved bottom line. However, margin compression, domestic concentration, stricter regulatory environment and higher capital requirements would considerably affect the lending as well as the investment ability of the company.”
SIVB has been the subject of several other research reports. Royal Bank Of Canada restated a “buy” rating on shares of SVB Financial Group in a research report on Thursday, June 23rd. JPMorgan Chase & Co. restated a “buy” rating on shares of SVB Financial Group in a research report on Saturday, July 9th. DA Davidson cut SVB Financial Group from a “buy” rating to a “neutral” rating in a report on Friday, July 22nd. JMP Securities assumed coverage on SVB Financial Group in a report on Friday, September 16th. They set an “outperform” rating and a $130.00 price target for the company. Finally, Barclays PLC dropped their price target on SVB Financial Group from $122.00 to $117.00 and set an “overweight” rating for the company in a report on Monday, July 25th. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $134.31.
Shares of SVB Financial Group (NASDAQ:SIVB) opened at 117.57 on Friday. The stock has a market capitalization of $6.12 billion, a P/E ratio of 17.95 and a beta of 1.63. The stock’s 50 day moving average price is $108.67 and its 200 day moving average price is $103.39. SVB Financial Group has a one year low of $77.87 and a one year high of $141.75.
SVB Financial Group (NASDAQ:SIVB) last posted its earnings results on Thursday, July 21st. The company reported $1.78 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.70 by $0.08. SVB Financial Group had a return on equity of 9.90% and a net margin of 22.00%. On average, analysts forecast that SVB Financial Group will post $6.81 EPS for the current year.
In other SVB Financial Group news, CFO Michael Descheneaux sold 8,378 shares of SVB Financial Group stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $103.21, for a total transaction of $864,693.38. Following the transaction, the chief financial officer now directly owns 15,079 shares in the company, valued at $1,556,303.59. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Eric Benhamou sold 2,000 shares of SVB Financial Group stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $106.38, for a total value of $212,760.00. Following the transaction, the director now owns 11,897 shares in the company, valued at $1,265,602.86. The disclosure for this sale can be found here. Corporate insiders own 0.78% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Independent Portfolio Consultants Inc. raised its position in SVB Financial Group by 3.7% in the third quarter. Independent Portfolio Consultants Inc. now owns 2,265 shares of the company’s stock valued at $250,000 after buying an additional 80 shares in the last quarter. Fulton Bank N.A. raised its position in SVB Financial Group by 7.3% in the third quarter. Fulton Bank N.A. now owns 5,988 shares of the company’s stock valued at $662,000 after buying an additional 407 shares in the last quarter. Northwestern Mutual Investment Management Company LLC raised its position in SVB Financial Group by 0.4% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 8,943 shares of the company’s stock valued at $851,000 after buying an additional 39 shares in the last quarter. Mason Street Advisors LLC acquired a new position in SVB Financial Group during the second quarter valued at $2,248,000. Finally, Harbour Capital Advisors LLC acquired a new position in SVB Financial Group during the second quarter valued at $744,000. Hedge funds and other institutional investors own 92.23% of the company’s stock.
SVB Financial Group Company Profile
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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