SVB Financial Group (SIVB) Earns Buy Rating from SunTrust Banks, Inc.
A number of other brokerages also recently issued reports on SIVB. Zacks Investment Research upgraded SVB Financial Group from a hold rating to a buy rating and set a $247.00 price target on the stock in a research report on Tuesday, October 31st. Maxim Group reiterated a buy rating and set a $250.00 price target (up previously from $220.00) on shares of SVB Financial Group in a research report on Monday, October 30th. Barclays PLC set a $217.00 target price on SVB Financial Group and gave the company a hold rating in a research report on Monday, October 30th. Wells Fargo & Company restated an outperform rating and issued a $240.00 target price (up previously from $215.00) on shares of SVB Financial Group in a research report on Thursday, November 9th. Finally, ValuEngine downgraded SVB Financial Group from a buy rating to a hold rating in a research report on Monday, October 2nd. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $216.21.
SVB Financial Group (SIVB) opened at $215.15 on Friday. The stock has a market capitalization of $11,350.00, a P/E ratio of 24.16, a price-to-earnings-growth ratio of 2.06 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 has a 1 year low of $150.64 and a 1 year high of $223.82.
SVB Financial Group (NASDAQ:SIVB) last issued its quarterly earnings results on Thursday, October 26th. The bank reported $2.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.50. The company had revenue of $533.40 million for the quarter, compared to the consensus estimate 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 revenue for the quarter was up 23.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.12 earnings per share. equities analysts forecast that SVB Financial Group will post 9.5 EPS for the current fiscal year.
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In related news, insider Marc C. Cadieux sold 2,260 shares of the stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $219.34, for a total value of $495,708.40. Following the completion of the sale, the insider now owns 15,971 shares of the company’s stock, valued at $3,503,079.14. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Eric Benhamou sold 2,000 shares of the stock in a transaction that occurred on Friday, September 1st. The shares were 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 of the company’s stock, valued at approximately $1,147,650.72. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,780 shares of company stock valued at $2,237,898. Insiders own 0.73% of the company’s stock.
Large investors have recently bought and sold shares of the stock. BDO Wealth Advisors LLC acquired a new stake in shares of SVB Financial Group in the second quarter valued at approximately $109,000. Peddock Capital Advisors LLC acquired a new stake in shares of SVB Financial Group in the second quarter valued at approximately $130,000. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of SVB Financial Group by 79.6% in 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. Global X Management Co. LLC increased its holdings in shares of SVB Financial Group by 58.6% in 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. Finally, Toronto Dominion Bank increased its holdings in shares of SVB Financial Group by 525.6% in the second quarter. Toronto Dominion Bank now owns 782 shares of the bank’s stock valued at $137,000 after purchasing an additional 657 shares during the last quarter. 95.00% of the stock is owned by hedge funds and other institutional investors.
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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