SVB Financial Group (SIVB) Stock Rating Reaffirmed by Wells Fargo & Company
Wells Fargo & Company reaffirmed their outperform rating on shares of SVB Financial Group (NASDAQ:SIVB) in a research note published on Thursday morning, The Fly reports. Wells Fargo & Company currently has a $240.00 price target on the bank’s stock, up from their previous price target of $215.00.
Several other analysts also recently commented on the stock. Barclays PLC reaffirmed an equal weight rating and set a $191.00 price objective (up previously from $188.00) on shares of SVB Financial Group in a research report on Wednesday, July 12th. Piper Jaffray Companies reaffirmed a buy rating and set a $212.00 price objective on shares of SVB Financial Group in a research report on Friday, July 14th. BidaskClub downgraded shares of SVB Financial Group from a strong-buy rating to a buy rating in a research report on Monday, July 24th. Morgan Stanley reaffirmed an overweight rating and set a $213.00 price objective (up previously from $210.00) on shares of SVB Financial Group in a research report on Wednesday, October 4th. Finally, Zacks Investment Research raised shares of SVB Financial Group from a hold rating to a buy rating and set a $247.00 price objective for the company in a research report on Tuesday, October 31st. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $214.00.
Shares of SVB Financial Group (NASDAQ SIVB) traded up $0.65 during mid-day trading on Thursday, hitting $208.88. 278,700 shares of the stock traded hands, compared to its average volume of 494,969. The firm has a market cap of $11,190.00, a P/E ratio of 23.44, a price-to-earnings-growth ratio of 2.00 and a beta of 1.63. SVB Financial Group has a one year low of $138.16 and a one year high of $223.82. 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 (NASDAQ:SIVB) last announced its quarterly earnings data on Thursday, October 26th. The bank reported $2.79 EPS for the quarter, topping the consensus estimate of $2.29 by $0.50. The company had revenue of $533.40 million during the quarter, compared to the consensus estimate of $490.56 million. SVB Financial Group had a net margin of 25.07% and a return on equity of 11.88%. The company’s quarterly revenue was up 23.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.12 EPS. equities analysts expect that SVB Financial Group will post 9.5 EPS for the current year.
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In other SVB Financial Group news, Director Eric Benhamou sold 2,000 shares of the firm’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $172.01, for a total transaction of $344,020.00. Following the transaction, the director now directly owns 6,672 shares in the company, valued at approximately $1,147,650.72. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Marc C. Cadieux sold 2,260 shares of the firm’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $219.34, for a total value of $495,708.40. Following the transaction, the insider now owns 15,971 shares in the company, valued at $3,503,079.14. The disclosure for this sale can be found here. In the last three months, insiders sold 7,150 shares of company stock valued at $1,476,106. 0.73% of the stock is currently owned by insiders.
A number of large investors have recently modified their holdings of SIVB. Harding Loevner LP lifted its stake in SVB Financial Group by 209.0% during the 3rd quarter. Harding Loevner LP now owns 4,817,712 shares of the bank’s stock valued at $284,617,000 after acquiring an additional 3,258,700 shares in the last quarter. Harbour Capital Advisors LLC lifted its stake in SVB Financial Group by 17,141.0% during the 2nd quarter. Harbour Capital Advisors LLC now owns 1,389,972 shares of the bank’s stock valued at $7,907,000 after acquiring an additional 1,381,910 shares in the last quarter. Janus Henderson Group PLC bought a new position in SVB Financial Group during the 2nd quarter valued at $173,726,000. BlackRock Inc. lifted its stake in SVB Financial Group by 16.5% during the 2nd quarter. BlackRock Inc. now owns 5,287,595 shares of the bank’s stock valued at $929,507,000 after acquiring an additional 748,591 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in SVB Financial Group by 41.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,134,833 shares of the bank’s stock valued at $375,282,000 after acquiring an additional 629,917 shares in the last quarter. Institutional investors and hedge funds own 94.52% of the company’s stock.
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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