SVB Financial Group (SIVB) Given New $127.00 Price Target at Barclays PLC
SVB Financial Group (NASDAQ:SIVB) had its price target boosted by Barclays PLC from $117.00 to $127.00 in a research report released on Tuesday. Barclays PLC currently has an overweight rating on the stock.
Other research analysts have also recently issued reports about the company. JPMorgan Chase & Co. restated a buy rating on shares of SVB Financial Group in a research note on Saturday, July 9th. Wells Fargo & Co. restated a buy rating on shares of SVB Financial Group in a research report on Friday, July 22nd. DA Davidson cut SVB Financial Group from a buy rating to a neutral rating in a research report on Friday, July 22nd. Maxim Group cut their price objective on SVB Financial Group from $170.00 to $150.00 and set a buy rating for the company in a research report on Monday, July 25th. Finally, Zacks Investment Research cut SVB Financial Group from a hold rating to a sell rating in a research report on Thursday, July 7th. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $132.54.
SVB Financial Group (NASDAQ:SIVB) traded down 0.11% during trading on Tuesday, hitting $118.51. 71,630 shares of the stock were exchanged. SVB Financial Group has a 1-year low of $77.87 and a 1-year high of $141.75. The firm has a market capitalization of $6.17 billion, a price-to-earnings ratio of 18.09 and a beta of 1.63. The company has a 50-day moving average price of $109.83 and a 200 day moving average price of $103.83.
SVB Financial Group (NASDAQ:SIVB) last announced its quarterly earnings data on Thursday, July 21st. The company reported $1.78 earnings per share (EPS) for the quarter, topping the 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%. Equities analysts predict that SVB Financial Group will post $6.81 earnings per share for the current fiscal year.
In other SVB Financial Group news, CFO Michael Descheneaux sold 8,378 shares of the stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $103.21, for a total transaction of $864,693.38. Following the completion of the sale, the chief financial officer now directly owns 15,079 shares of the company’s stock, valued at approximately $1,556,303.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Bruce Wallace sold 2,300 shares of the stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $103.25, for a total value of $237,475.00. Following the sale, the insider now directly owns 13,177 shares of the company’s stock, valued at $1,360,525.25. The disclosure for this sale can be found here. Company insiders own 0.78% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Tower Research Capital LLC TRC boosted its stake in SVB Financial Group by 1,091.7% in the second quarter. Tower Research Capital LLC TRC now owns 1,442 shares of the company’s stock worth $137,000 after buying an additional 1,321 shares during the last quarter. Advisor Group Inc. bought a new stake in SVB Financial Group during the second quarter worth $141,000. Quantbot Technologies LP bought a new stake in SVB Financial Group during the second quarter worth $144,000. Advisory Services Network LLC boosted its stake in SVB Financial Group by 160.7% in the third quarter. Advisory Services Network LLC now owns 1,418 shares of the company’s stock worth $157,000 after buying an additional 874 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in SVB Financial Group during the second quarter worth $204,000. 92.23% of the stock is owned by 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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