SVB Financial Group (SIVB) Trading Up 3.4%
SVB Financial Group (NASDAQ:SIVB)’s share price was up 3.4% during trading on Thursday . The company traded as high as $102.59 and last traded at $101.56, with a volume of 451,824 shares traded. The stock had previously closed at $98.20.
A number of equities analysts have recently commented on SIVB shares. Royal Bank Of Canada restated a “buy” rating on shares of SVB Financial Group in a report on Thursday, June 23rd. Zacks Investment Research downgraded SVB Financial Group from a “hold” rating to a “sell” rating in a report on Tuesday, April 19th. Barclays PLC dropped their target price on SVB Financial Group from $150.00 to $130.00 and set an “overweight” rating on the stock in a report on Thursday, March 24th. JPMorgan Chase & Co. dropped their target price on SVB Financial Group from $126.00 to $112.00 and set an “overweight” rating on the stock in a report on Thursday, July 7th. Finally, Evercore ISI downgraded SVB Financial Group from a “buy” rating to a “hold” rating and dropped their target price for the company from $135.00 to $120.00 in a report on Friday, April 22nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. SVB Financial Group has an average rating of “Buy” and an average price target of $131.50.
The stock has a market capitalization of $5.31 billion and a P/E ratio of 15.95. The company has a 50-day moving average of $99.96 and a 200 day moving average of $99.79.
SVB Financial Group (NASDAQ:SIVB) last issued its earnings results on Thursday, April 21st. The company reported $1.52 EPS for the quarter, missing analysts’ consensus estimates of $1.69 by $0.17. During the same quarter in the previous year, the firm posted $1.71 earnings per share. Equities research analysts expect that SVB Financial Group will post $6.88 earnings per share for the current year.
In other SVB Financial Group news, insider Philip C. Cox sold 500 shares of the business’s stock in a transaction dated Thursday, April 28th. The stock was sold at an average price of $104.89, for a total value of $52,445.00. Following the transaction, the insider now owns 3,126 shares in the company, valued at $327,886.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eric Benhamou sold 1,365 shares of the business’s stock in a transaction dated Wednesday, June 1st. The shares were sold at an average price of $110.00, for a total value of $150,150.00. Following the completion of the transaction, the director now owns 13,897 shares in the company, valued at approximately $1,528,670. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors have recently modified their holdings of SIVB. Jennison Associates LLC purchased a new position in shares of SVB Financial Group during the fourth quarter worth approximately $37,061,000. Morgan Stanley increased its stake in SVB Financial Group by 79.2% in the fourth quarter. Morgan Stanley now owns 301,323 shares of the company’s stock valued at $35,827,000 after buying an additional 133,205 shares during the period. Vanguard Group Inc. increased its stake in SVB Financial Group by 3.3% in the fourth quarter. Vanguard Group Inc. now owns 3,544,825 shares of the company’s stock valued at $421,480,000 after buying an additional 113,320 shares during the period. Wells Fargo & Company MN increased its stake in SVB Financial Group by 19.3% in the fourth quarter. Wells Fargo & Company MN now owns 221,477 shares of the company’s stock valued at $26,335,000 after buying an additional 35,789 shares during the period. Finally, Redwood Investments LLC increased its stake in SVB Financial Group by 22.3% in the fourth quarter. Redwood Investments LLC now owns 126,364 shares of the company’s stock valued at $15,025,000 after buying an additional 23,017 shares during the period.
SVB Financial Group (SVB Financial) is a diversified financial services, bank holding and financial holding company. The Company operates through three segments: 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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