SVB Financial Group (SIVB) Stock Price Down 7.1%
SVB Financial Group (NASDAQ:SIVB)’s share price fell 7.1% during mid-day trading on Friday . The company traded as low as $207.70 and last traded at $212.19. 1,182,303 shares changed hands during mid-day trading, an increase of 126% from the average session volume of 524,121 shares. The stock had previously closed at $228.31.
A number of research firms recently issued reports on SIVB. ValuEngine downgraded shares of SVB Financial Group from a “hold” rating to a “sell” rating in a research note on Wednesday, March 6th. Bank of America set a $280.00 target price on shares of SVB Financial Group and gave the stock a “buy” rating in a report on Tuesday, March 5th. BidaskClub upgraded shares of SVB Financial Group from a “strong sell” rating to a “sell” rating in a report on Tuesday, January 29th. SunTrust Banks raised their target price on shares of SVB Financial Group to $280.00 and gave the stock a “buy” rating in a report on Monday, January 28th. They noted that the move was a valuation call. Finally, Piper Jaffray Companies set a $291.00 target price on shares of SVB Financial Group and gave the stock a “buy” rating in a report on Friday, January 25th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $315.07.
The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $11.17 billion, a price-to-earnings ratio of 11.64, a PEG ratio of 1.39 and a beta of 2.03.
In other SVB Financial Group news, insider John China sold 11,200 shares of the business’s stock in a transaction dated Thursday, February 28th. The shares were sold at an average price of $249.12, for a total value of $2,790,144.00. Following the completion of the sale, the insider now directly owns 22,172 shares of the company’s stock, valued at approximately $5,523,488.64. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Christopher Edmonds-Waters sold 3,669 shares of the business’s stock in a transaction dated Thursday, February 14th. The shares were sold at an average price of $242.39, for a total transaction of $889,328.91. Following the completion of the sale, the insider now directly owns 6,020 shares of the company’s stock, valued at $1,459,187.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,617 shares of company stock valued at $4,096,266. 0.73% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in SIVB. Vanguard Group Inc. lifted its position in shares of SVB Financial Group by 2.2% in the 3rd quarter. Vanguard Group Inc. now owns 5,596,383 shares of the bank’s stock worth $1,739,523,000 after purchasing an additional 121,374 shares during the period. Vanguard Group Inc boosted its holdings in SVB Financial Group by 2.2% during the third quarter. Vanguard Group Inc now owns 5,596,383 shares of the bank’s stock worth $1,739,523,000 after buying an additional 121,374 shares in the last quarter. BlackRock Inc. boosted its holdings in SVB Financial Group by 2.5% during the fourth quarter. BlackRock Inc. now owns 3,840,775 shares of the bank’s stock worth $729,440,000 after buying an additional 93,131 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in SVB Financial Group by 16.8% during the third quarter. Bank of New York Mellon Corp now owns 1,525,038 shares of the bank’s stock worth $474,028,000 after buying an additional 219,000 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its holdings in SVB Financial Group by 5.7% during the fourth quarter. Fisher Asset Management LLC now owns 1,063,554 shares of the bank’s stock worth $201,990,000 after buying an additional 57,752 shares in the last quarter. 90.17% of the stock is owned by institutional investors.
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About SVB Financial Group (NASDAQ:SIVB)
SVB Financial Group, a diversified financial services company, provides various banking and financial products and services. The company operates through three segments: Global Commercial Bank, SVB Private Bank, and SVB Capital. The Global Commercial Bank segment offers deposit products, such as business and analysis checking, money market, multi-currency, in-country bank, and sweep accounts, as well as merchant, remote capture, lockbox, electronic deposit capture, and fraud control services; credit products and services comprising term loans, equipment loans, asset-based loans, revolving lines of credit, accounts-receivable-based lines of credit, capital call lines of credit, and credit cards; and payment and cash management products and services, including wire transfer and automated clearing house payment, bill pay, debit and credit cards, account analysis, and disbursement, as well as online and mobile banking services.
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