Analysts Set SVB Financial Group (SIVB) Price Target at $203.55
SVB Financial Group (NASDAQ:SIVB) has been assigned an average rating of “Buy” from the fourteen ratings firms that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $203.55.
Several research firms have recently commented on SIVB. Zacks Investment Research lowered shares of SVB Financial Group from a “buy” rating to a “hold” rating in a research report on Friday, July 7th. Wedbush reaffirmed a “neutral” rating and set a $192.00 price target on shares of SVB Financial Group in a research report on Tuesday, June 27th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $195.00 price target on shares of SVB Financial Group in a research report on Friday, July 14th. Jefferies Group LLC reaffirmed a “buy” rating and set a $216.00 price target on shares of SVB Financial Group in a research report on Friday, August 11th. Finally, Maxim Group upped their price target on shares of SVB Financial Group from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Monday, July 31st.
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SVB Financial Group (SIVB) traded up 2.32% during trading on Wednesday, hitting $189.47. 416,883 shares of the stock traded hands. SVB Financial Group has a 52-week low of $116.59 and a 52-week high of $198.83. The company has a market cap of $9.98 billion, a P/E ratio of 23.03 and a beta of 1.63. The firm has a 50-day moving average price of $179.37 and a 200 day moving average price of $178.39.
SVB Financial Group (NASDAQ:SIVB) last released its quarterly earnings results on Thursday, July 27th. The bank reported $2.32 EPS for the quarter, beating 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 firm had revenue of $471.70 million during the quarter, compared to analyst estimates of $451.96 million. During the same quarter in the prior year, the firm earned $1.78 EPS. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, equities analysts expect that SVB Financial Group will post $8.99 EPS for the current year.
In related news, 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 completion of the sale, the insider now directly owns 2,872 shares of the company’s stock, valued at approximately $525,001.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 completion of the sale, the director now directly owns 6,672 shares of the company’s stock, valued at $1,147,650.72. The disclosure for this sale can be found here. Insiders sold a total of 8,524 shares of company stock valued at $1,534,052 over the last three months. 0.73% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. increased its holdings in SVB Financial Group by 6.8% in the 2nd quarter. Principal Financial Group Inc. now owns 223,271 shares of the bank’s stock worth $39,249,000 after acquiring an additional 14,145 shares in the last quarter. Comerica Bank increased its holdings in SVB Financial Group by 0.9% in the 2nd quarter. Comerica Bank now owns 42,407 shares of the bank’s stock worth $7,560,000 after acquiring an additional 365 shares in the last quarter. Synovus Financial Corp increased its holdings in SVB Financial Group by 14.4% in the 2nd quarter. Synovus Financial Corp now owns 7,139 shares of the bank’s stock worth $1,253,000 after acquiring an additional 897 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in SVB Financial Group in the 2nd quarter worth approximately $26,296,000. Finally, Icon Advisers Inc. Co. increased its holdings in SVB Financial Group by 56.6% in the 2nd quarter. Icon Advisers Inc. Co. now owns 42,880 shares of the bank’s stock worth $7,538,000 after acquiring an additional 15,500 shares in the last quarter. 92.04% of the stock is owned by institutional investors.
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.
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