SVB Financial Group (SIVB) Downgraded to “Hold” at ValuEngine
ValuEngine cut shares of SVB Financial Group (NASDAQ:SIVB) from a buy rating to a hold rating in a report issued on Monday.
A number of other analysts have also issued reports on the company. Jefferies Group LLC reiterated a buy rating and issued a $216.00 price target on shares of SVB Financial Group in a report on Friday, August 11th. Maxim Group raised their price objective on SVB Financial Group from $200.00 to $220.00 and gave the stock a buy rating in a report on Monday, July 31st. BidaskClub downgraded SVB Financial Group from a buy rating to a hold rating in a report on Sunday, July 30th. Stephens reaffirmed a buy rating and set a $205.00 target price on shares of SVB Financial Group in a research report on Friday, July 28th. Finally, Piper Jaffray Companies reaffirmed a buy rating and set a $212.00 target price on shares of SVB Financial Group in a research report on Friday, July 14th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company. SVB Financial Group has a consensus rating of Buy and an average target price of $202.75.
SVB Financial Group (SIVB) opened at 187.96 on Monday. The company has a market capitalization of $9.90 billion, a P/E ratio of 22.84 and a beta of 1.63. SVB Financial Group has a 1-year low of $109.67 and a 1-year high of $198.83. The company has a 50-day moving average of $172.61 and a 200-day moving average of $177.98.
SVB Financial Group (NASDAQ:SIVB) last issued its earnings results on Thursday, July 27th. The bank reported $2.32 EPS for the quarter, topping the Zacks’ consensus estimate of $2.05 by $0.27. The business had revenue of $471.70 million for the quarter, compared to analyst estimates of $451.96 million. SVB Financial Group had a net margin of 24.36% and a return on equity of 11.27%. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period last year, the company posted $1.78 earnings per share. Equities analysts expect that SVB Financial Group will post $8.99 EPS for the current fiscal year.
In other SVB Financial Group news, Director Eric Benhamou sold 2,000 shares of SVB Financial Group 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 transaction, the director now owns 6,672 shares in the company, valued at $1,147,650.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Philip C. Cox sold 3,024 shares of SVB Financial Group stock in a transaction dated 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 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. Over the last three months, insiders sold 8,524 shares of company stock valued at $1,534,052. Corporate insiders own 0.73% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. BDO Wealth Advisors LLC bought a new stake in shares of SVB Financial Group in the 2nd quarter valued at about $109,000. Exane Derivatives purchased a new position in shares of SVB Financial Group in the 2nd quarter worth approximately $119,000. Peddock Capital Advisors LLC purchased a new position in shares of SVB Financial Group in the 2nd quarter worth approximately $130,000. Whittier Trust Co. of Nevada Inc. grew its position in shares of SVB Financial Group by 79.6% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 774 shares of the bank’s stock worth $136,000 after buying an additional 343 shares during the last quarter. Finally, Global X Management Co. LLC grew its position in shares of SVB Financial Group by 58.6% in the 2nd quarter. Global X Management Co. LLC now owns 782 shares of the bank’s stock worth $137,000 after buying an additional 289 shares during the last quarter. 92.12% of the stock is owned by institutional investors and hedge funds.
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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