SVB Financial Group (SIVB) Downgraded by ValuEngine to Hold
ValuEngine downgraded shares of SVB Financial Group (NASDAQ:SIVB) from a buy rating to a hold rating in a research report released on Monday.
SIVB has been the topic of a number of other research reports. BidaskClub raised shares of SVB Financial Group from a buy rating to a strong-buy rating in a research note on Wednesday, June 14th. Barclays PLC reaffirmed an equal weight rating and set a $191.00 price objective (up previously from $188.00) on shares of SVB Financial Group in a research note on Wednesday, July 12th. Keefe, Bruyette & Woods reaffirmed a buy rating and set a $195.00 price objective on shares of SVB Financial Group in a research note on Friday, July 14th. Piper Jaffray Companies reaffirmed a buy rating and set a $212.00 price objective on shares of SVB Financial Group in a research note on Friday, July 14th. Finally, Jefferies Group LLC reaffirmed a buy rating and set a $216.00 price objective on shares of SVB Financial Group in a research note on Sunday, June 11th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $203.00.
SVB Financial Group (SIVB) traded up 0.98% during trading on Monday, hitting $189.10. 427,711 shares of the company were exchanged. The stock has a market capitalization of $9.96 billion, a PE ratio of 22.98 and a beta of 1.63. The firm’s 50 day moving average price is $173.55 and its 200-day moving average price is $178.00. SVB Financial Group has a 1-year low of $112.00 and a 1-year high of $198.83.
SVB Financial Group (NASDAQ:SIVB) last issued its quarterly earnings results on Thursday, July 27th. The bank reported $2.32 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.05 by $0.27. SVB Financial Group had a net margin of 24.36% and a return on equity of 11.27%. The company had revenue of $471.70 million for the quarter, compared to the consensus estimate of $451.96 million. During the same quarter in the prior year, the company earned $1.78 EPS. SVB Financial Group’s quarterly revenue was up 10.2% on a year-over-year basis. Equities analysts predict that SVB Financial Group will post $8.99 EPS for the current year.
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In other news, Director Eric Benhamou sold 2,000 shares of the stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $172.01, for a total transaction of $344,020.00. Following the transaction, the director now owns 6,672 shares in the company, valued at approximately $1,147,650.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Philip C. Cox sold 3,024 shares of the stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $182.80, for a total value of $552,787.20. Following the transaction, the insider now owns 2,872 shares in the company, valued at approximately $525,001.60. The disclosure for this sale can be found here. Insiders have sold a total of 8,524 shares of company stock worth $1,534,052 in the last quarter. Insiders own 0.73% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Fulton Bank N.A. lifted its position in shares of SVB Financial Group by 7.7% during the 3rd quarter. Fulton Bank N.A. now owns 6,194 shares of the bank’s stock valued at $1,158,000 after buying an additional 445 shares in the last quarter. Ashford Capital Management Inc. lifted its holdings in SVB Financial Group by 1.2% in the 2nd quarter. Ashford Capital Management Inc. now owns 103,280 shares of the bank’s stock valued at $18,156,000 after purchasing an additional 1,204 shares in the last quarter. Toronto Dominion Bank lifted its holdings in SVB Financial Group by 525.6% in the 2nd quarter. Toronto Dominion Bank now owns 782 shares of the bank’s stock valued at $137,000 after purchasing an additional 657 shares in the last quarter. Cookson Peirce & Co. Inc. lifted its holdings in SVB Financial Group by 275.7% in the 2nd quarter. Cookson Peirce & Co. Inc. now owns 9,430 shares of the bank’s stock valued at $1,658,000 after purchasing an additional 6,920 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in SVB Financial Group in the 2nd quarter valued at $636,000. Hedge funds and other institutional investors own 92.12% of the company’s stock.
SVB Financial Group Company Profile
SVB Financial Group is a financial services company, as well as a bank holding and a financial holding company. The Company’s segments include 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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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