SVB Financial Group (SIVB) Given Buy Rating at SunTrust Banks, Inc.
SunTrust Banks, Inc. reiterated their buy rating on shares of SVB Financial Group (NASDAQ:SIVB) in a report issued on Friday morning. The brokerage currently has a $245.00 price objective on the bank’s stock.
Other equities analysts have also issued research reports about the company. Zacks Investment Research lowered SVB Financial Group from a buy rating to a hold rating in a research note on Monday, November 13th. Wells Fargo & Company reissued an outperform rating and set a $240.00 target price (up previously from $215.00) on shares of SVB Financial Group in a research note on Thursday, November 9th. Barclays PLC set a $217.00 target price on SVB Financial Group and gave the stock a hold rating in a research note on Monday, October 30th. Maxim Group reissued a buy rating and set a $250.00 target price (up previously from $220.00) on shares of SVB Financial Group in a research note on Monday, October 30th. Finally, Morgan Stanley reissued an overweight rating and set a $213.00 target price (up previously from $210.00) on shares of SVB Financial Group in a research note on Wednesday, October 4th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company has an average rating of Buy and a consensus price target of $216.21.
Shares of SVB Financial Group (SIVB) traded up $0.99 during trading on Friday, hitting $215.22. The stock had a trading volume of 261,074 shares, compared to its average volume of 492,112. SVB Financial Group has a twelve month low of $149.01 and a twelve month high of $223.82. The firm has a market cap of $11,300.00, a price-to-earnings ratio of 23.94, a PEG ratio of 2.04 and a beta of 1.63. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.18.
SVB Financial Group (NASDAQ:SIVB) last announced its quarterly earnings results on Thursday, October 26th. The bank reported $2.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.29 by $0.50. SVB Financial Group had a return on equity of 11.88% and a net margin of 25.07%. The business had revenue of $533.40 million for the quarter, compared to analyst estimates of $490.56 million. During the same quarter in the prior year, the company posted $2.12 EPS. The company’s quarterly revenue was up 23.0% on a year-over-year basis. research analysts expect that SVB Financial Group will post 9.5 earnings per share for the current year.
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In other SVB Financial Group news, insider Christopher Edmonds-Waters sold 3,630 shares of the company’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $209.86, for a total transaction of $761,791.80. Following the sale, the insider now owns 5,918 shares in the company, valued at approximately $1,241,951.48. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Eric Benhamou sold 2,000 shares of the company’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $172.01, for a total value of $344,020.00. Following the sale, the director now owns 6,672 shares in the company, valued at approximately $1,147,650.72. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,780 shares of company stock worth $2,237,898. 0.73% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in SIVB. Harding Loevner LP increased its holdings in shares of SVB Financial Group by 209.0% in the 3rd quarter. Harding Loevner LP now owns 4,817,712 shares of the bank’s stock valued at $284,617,000 after acquiring an additional 3,258,700 shares during the last quarter. Harbour Capital Advisors LLC increased its holdings in shares of SVB Financial Group by 17,141.0% in the 2nd quarter. Harbour Capital Advisors LLC now owns 1,389,972 shares of the bank’s stock valued at $7,907,000 after acquiring an additional 1,381,910 shares during the last quarter. Janus Henderson Group PLC purchased a new position in shares of SVB Financial Group in the 2nd quarter valued at about $173,726,000. BlackRock Inc. increased its holdings in shares of SVB Financial Group by 16.5% in the 2nd quarter. BlackRock Inc. now owns 5,287,595 shares of the bank’s stock valued at $929,507,000 after acquiring an additional 748,591 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of SVB Financial Group by 41.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,134,833 shares of the bank’s stock valued at $375,282,000 after acquiring an additional 629,917 shares during the last quarter. Institutional investors and hedge funds own 94.52% of the company’s stock.
About SVB Financial Group
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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