Royal Bank Of Canada Increases SVB Financial Group (SIVB) Price Target to $146.00
SVB Financial Group (NASDAQ:SIVB) had its price target lifted by research analysts at Royal Bank Of Canada from $125.00 to $146.00 in a research report issued on Thursday. The brokerage currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective suggests a potential upside of 0.67% from the company’s previous close.
Several other research analysts also recently commented on the company. DA Davidson downgraded SVB Financial Group from a “buy” rating to a “neutral” rating in a report on Friday, July 22nd. Wells Fargo & Co. restated a “buy” rating on shares of SVB Financial Group in a report on Friday, July 22nd. Maxim Group decreased their target price on shares of SVB Financial Group from $170.00 to $150.00 and set a “buy” rating on the stock in a research note on Monday, July 25th. Zacks Investment Research upgraded shares of SVB Financial Group from a “sell” rating to a “hold” rating in a report on Monday, July 25th. Finally, Barclays PLC dropped their price target on shares of SVB Financial Group from $122.00 to $117.00 and set an “overweight” rating for the company in a research report on Monday, July 25th. Three equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $133.08.
Shares of SVB Financial Group (NASDAQ:SIVB) opened at 145.03 on Thursday. The company has a 50-day moving average of $119.19 and a 200 day moving average of $106.76. The firm has a market cap of $7.55 billion, a P/E ratio of 20.43 and a beta of 1.44. SVB Financial Group has a 52-week low of $77.87 and a 52-week high of $145.36.
SVB Financial Group (NASDAQ:SIVB) last released its earnings results on Thursday, October 20th. The company reported $2.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.73 by $0.39. SVB Financial Group had a net margin of 22.84% and a return on equity of 10.44%. The company had revenue of $433.50 million for the quarter. During the same period in the prior year, the business posted $1.57 EPS. SVB Financial Group’s revenue for the quarter was up 19.4% on a year-over-year basis. On average, equities analysts expect that SVB Financial Group will post $7.21 earnings per share for the current year.
In other news, insider Philip C. Cox sold 400 shares of the stock in a transaction on Monday, November 7th. The stock was sold at an average price of $123.76, for a total transaction of $49,504.00. Following the transaction, the insider now directly owns 4,017 shares of the company’s stock, valued at approximately $497,143.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider John China sold 1,200 shares of the stock in a transaction on Friday, October 28th. The shares were sold at an average price of $124.40, for a total value of $149,280.00. Following the transaction, the insider now directly owns 9,188 shares in the company, valued at $1,142,987.20. The disclosure for this sale can be found here. 0.78% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in SIVB. Vanguard Group Inc. boosted its position in SVB Financial Group by 2.9% in the second quarter. Vanguard Group Inc. now owns 3,724,910 shares of the company’s stock valued at $354,463,000 after buying an additional 104,620 shares during the last quarter. Harding Loevner LP boosted its position in SVB Financial Group by 0.3% in the third quarter. Harding Loevner LP now owns 2,891,241 shares of the company’s stock valued at $319,598,000 after buying an additional 7,558 shares during the last quarter. State Street Corp boosted its position in SVB Financial Group by 5.4% in the second quarter. State Street Corp now owns 2,344,688 shares of the company’s stock valued at $223,128,000 after buying an additional 120,360 shares during the last quarter. BlackRock Fund Advisors boosted its position in SVB Financial Group by 4.6% in the third quarter. BlackRock Fund Advisors now owns 1,999,997 shares of the company’s stock valued at $221,080,000 after buying an additional 87,680 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its position in SVB Financial Group by 1.3% in the second quarter. Fisher Asset Management LLC now owns 1,636,848 shares of the company’s stock valued at $157,268,000 after buying an additional 20,874 shares during the last quarter. 91.92% of the stock is currently owned by hedge funds and other institutional investors.
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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