SVB Financial Group (SIVB) Research Coverage Started at JMP Securities
JMP Securities began coverage on shares of SVB Financial Group (NASDAQ:SIVB) in a research note issued to investors on Friday. The brokerage issued an outperform rating and a $130.00 price target on the stock.
Several other analysts have also issued reports on SIVB. Keefe, Bruyette & Woods cut their price objective on SVB Financial Group from $140.00 to $131.00 and set an outperform rating for the company in a report on Friday, May 27th. Raymond James Financial Inc. restated a strong-buy rating on shares of SVB Financial Group in a report on Friday, June 3rd. Zacks Investment Research upgraded SVB Financial Group from a sell rating to a hold rating in a report on Friday, June 17th. Royal Bank Of Canada restated a buy rating on shares of SVB Financial Group in a report on Thursday, June 23rd. Finally, JPMorgan Chase & Co. cut 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. Three investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. SVB Financial Group currently has an average rating of Buy and an average price target of $130.23.
SVB Financial Group (NASDAQ:SIVB) opened at 106.93 on Friday. The company has a market cap of $5.56 billion, a P/E ratio of 16.33 and a beta of 1.73. SVB Financial Group has a 12-month low of $77.87 and a 12-month high of $141.75. The firm’s 50-day moving average price is $106.09 and its 200-day moving average price is $102.44.
SVB Financial Group (NASDAQ:SIVB) last announced its quarterly earnings data on Thursday, July 21st. The company reported $1.78 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.70 by $0.08. SVB Financial Group had a return on equity of 9.90% and a net margin of 22.00%. Analysts expect that SVB Financial Group will post $6.81 EPS for the current year.
In related news, insider Bruce Wallace sold 2,300 shares of SVB Financial Group stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $103.25, for a total transaction of $237,475.00. Following the sale, the insider now directly owns 13,177 shares of the company’s stock, valued at $1,360,525.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Eric Benhamou sold 2,000 shares of SVB Financial Group stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $106.38, for a total value of $212,760.00. Following the sale, the director now directly owns 11,897 shares in the company, valued at $1,265,602.86. The disclosure for this sale can be found here. Corporate insiders own 0.78% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Northwestern Mutual Investment Management Company LLC increased its stake in SVB Financial Group by 0.4% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 8,943 shares of the company’s stock worth $851,000 after buying an additional 39 shares during the last quarter. Mason Street Advisors LLC bought a new stake in SVB Financial Group during the second quarter worth $2,248,000. Harbour Capital Advisors LLC bought a new stake in SVB Financial Group during the second quarter worth $744,000. Wolverine Asset Management LLC increased its stake in SVB Financial Group by 125.0% in the second quarter. Wolverine Asset Management LLC now owns 45,000 shares of the company’s stock worth $4,282,000 after buying an additional 25,000 shares during the last quarter. Finally, Royal Bank of Canada increased its stake in SVB Financial Group by 22.9% in the second quarter. Royal Bank of Canada now owns 185,104 shares of the company’s stock worth $17,615,000 after buying an additional 34,540 shares during the last quarter. 92.23% of the stock is currently owned by institutional investors.
SVB Financial Group Company Profile
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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