SVB Financial Group (SIVB) Trading Up 2%
SVB Financial Group (NASDAQ:SIVB)’s share price was up 2% during mid-day trading on Tuesday . The company traded as high as $112.42 and last traded at $111.94, with a volume of 386,300 shares traded. The stock had previously closed at $109.74.
A number of brokerages recently weighed in on SIVB. Raymond James Financial Inc. restated a “strong-buy” rating on shares of SVB Financial Group in a research note on Friday, June 3rd. Keefe, Bruyette & Woods decreased their price objective on SVB Financial Group from $140.00 to $131.00 and set an “outperform” rating for the company in a research note on Friday, May 27th. Morgan Stanley restated a “buy” rating on shares of SVB Financial Group in a research note on Tuesday, August 2nd. Royal Bank Of Canada restated a “buy” rating on shares of SVB Financial Group in a research note on Thursday, June 23rd. Finally, JPMorgan Chase & Co. decreased their price objective on SVB Financial Group from $126.00 to $112.00 and set an “overweight” rating for the company in a research note on Thursday, July 7th. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $130.25.
The stock has a 50-day moving average of $103.79 and a 200 day moving average of $100.71. The stock has a market capitalization of $5.78 billion and a PE ratio of 16.95.
SVB Financial Group (NASDAQ:SIVB) last issued its quarterly earnings data on Thursday, July 21st. The company reported $1.78 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.70 by $0.08. On average, equities analysts anticipate that SVB Financial Group will post $6.82 EPS for the current year.
In related news, Director Eric Benhamou sold 2,000 shares of the business’s stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $106.38, for a total transaction of $212,760.00. Following the completion of the transaction, the director now directly owns 11,897 shares of the company’s stock, valued at approximately $1,265,602.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Michael Descheneaux sold 8,378 shares of the business’s stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $103.21, for a total value of $864,693.38. Following the transaction, the chief financial officer now directly owns 15,079 shares of the company’s stock, valued at $1,556,303.59. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in SVB Financial Group stock. KBC Group NV increased its stake in SVB Financial Group (NASDAQ:SIVB) by 655.3% during the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 30,144 shares of the company’s stock after buying an additional 26,153 shares during the period. KBC Group NV owned about 0.06% of SVB Financial Group worth $3,584,000 as of its most recent filing with the SEC.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.