SVB Financial Group (SIVB) Downgraded by Zacks Investment Research
SVB Financial Group (NASDAQ:SIVB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Monday.
According to Zacks, “Shares of SVB Financial have significantly outperformed the industry over the past six months. The performance was supported by impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in all the trailing four quarters. The company’s third quarter 2017 results benefited from higher revenues, while increase expenses and credit costs were the headwinds. The company remains well positioned to capitalize on future opportunities driven by sturdy capital position and consistent growth in loans and deposits. Also, its focus on improving non-interest income is expected to support top-line growth. While mounting expenses and deteriorating asset quality remain major concerns, the bank remains well positioned to benefit from an improved rate scenario and global expansion efforts.”
A number of other analysts have also recently weighed in on SIVB. BidaskClub cut SVB Financial Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Stephens reiterated a “buy” rating and issued a $205.00 price target on shares of SVB Financial Group in a research report on Friday, July 28th. Maxim Group upped their price target on SVB Financial Group from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Monday, July 31st. Jefferies Group LLC reiterated a “buy” rating and issued a $216.00 price target on shares of SVB Financial Group in a research report on Friday, August 11th. Finally, ValuEngine upgraded SVB Financial Group from a “hold” rating to a “buy” rating in a research report on Thursday, August 17th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $214.00.
SVB Financial Group (NASDAQ:SIVB) traded up $0.65 on Monday, hitting $208.88. The stock had a trading volume of 278,700 shares, compared to its average volume of 494,969. The company has a market capitalization of $11,016.48, a PE ratio of 23.44, a PEG ratio of 2.00 and a beta of 1.64. 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 has a 1-year low of $138.16 and a 1-year high of $223.82.
SVB Financial Group (NASDAQ:SIVB) last released its quarterly earnings data on Thursday, October 26th. The bank reported $2.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.50. The business had revenue of $533.40 million for the quarter, compared to analysts’ expectations of $490.56 million. SVB Financial Group had a return on equity of 11.88% and a net margin of 25.07%. SVB Financial Group’s quarterly revenue was up 23.0% on a year-over-year basis. During the same period in the previous year, the business posted $2.12 earnings per share. analysts anticipate that SVB Financial Group will post 9.5 earnings per share for the current year.
In other SVB Financial Group news, Director Eric Benhamou sold 2,000 shares of the 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 completion of the sale, the director now directly owns 6,672 shares in the company, valued at $1,147,650.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kamran F. Husain sold 2,890 shares of the stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $220.20, for a total value of $636,378.00. Following the completion of the sale, the insider now owns 890 shares of the company’s stock, valued at $195,978. The disclosure for this sale can be found here. Insiders have sold 7,150 shares of company stock worth $1,476,106 in the last ninety days. 0.73% of the stock is currently owned by insiders.
Large investors have recently bought and sold shares of the stock. BDO Wealth Advisors LLC bought a new position in shares of SVB Financial Group during the second quarter worth about $109,000. Exane Derivatives acquired a new position in SVB Financial Group during the second quarter valued at approximately $119,000. Peddock Capital Advisors LLC acquired a new position in SVB Financial Group during the second quarter valued at approximately $130,000. Whittier Trust Co. of Nevada Inc. boosted its position in SVB Financial Group by 79.6% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 774 shares of the bank’s stock valued at $136,000 after purchasing an additional 343 shares during the last quarter. Finally, Global X Management Co. LLC boosted its position in SVB Financial Group by 58.6% during the second quarter. Global X Management Co. LLC now owns 782 shares of the bank’s stock valued at $137,000 after purchasing an additional 289 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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