SVB Financial Group (SIVB) Receives Average Rating of “Buy” from Brokerages
SVB Financial Group (NASDAQ:SIVB) has been given a consensus recommendation of “Buy” by the twenty-one ratings firms that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, four have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is $313.14.
Several equities analysts have commented on SIVB shares. SunTrust Banks upped their price objective on SVB Financial Group to $280.00 and gave the company a “buy” rating in a research report on Monday, January 28th. They noted that the move was a valuation call. Zacks Investment Research raised SVB Financial Group from a “hold” rating to a “buy” rating and set a $253.00 price objective on the stock in a research report on Wednesday, January 23rd. BidaskClub raised SVB Financial Group from a “strong sell” rating to a “sell” rating in a research report on Tuesday, January 29th. Maxim Group dropped their price target on SVB Financial Group to $325.00 and set a “buy” rating on the stock in a research report on Monday, April 29th. Finally, Bank of America set a $280.00 price target on SVB Financial Group and gave the stock a “buy” rating in a research report on Tuesday, March 5th.
Shares of SVB Financial Group stock opened at $229.48 on Thursday. The firm has a market capitalization of $12.08 billion, a price-to-earnings ratio of 12.59, a price-to-earnings-growth ratio of 1.52 and a beta of 2.03. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.70 and a current ratio of 0.70. SVB Financial Group has a 52 week low of $177.70 and a 52 week high of $333.74.
In related news, insider Marc C. Cadieux sold 2,304 shares of the company’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $240.77, for a total transaction of $554,734.08. Following the completion of the sale, the insider now directly owns 17,941 shares in the company, valued at approximately $4,319,654.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael Descheneaux sold 6,000 shares of the company’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $239.55, for a total value of $1,437,300.00. Following the sale, the insider now owns 23,811 shares of the company’s stock, valued at $5,703,925.05. The disclosure for this sale can be found here. Insiders have sold a total of 20,383 shares of company stock worth $5,003,767 in the last three months. Corporate insiders own 0.73% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Bronfman E.L. Rothschild L.P. lifted its stake in shares of SVB Financial Group by 135.4% during the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 193 shares of the bank’s stock worth $37,000 after purchasing an additional 111 shares during the last quarter. Quad Cities Investment Group LLC purchased a new stake in shares of SVB Financial Group during the 1st quarter worth $44,000. Cresset Asset Management LLC purchased a new stake in shares of SVB Financial Group during the 1st quarter worth $44,000. Clean Yield Group purchased a new stake in shares of SVB Financial Group during the 4th quarter worth $47,000. Finally, JOYN Advisors Inc. lifted its stake in shares of SVB Financial Group by 106.9% during the 4th quarter. JOYN Advisors Inc. now owns 271 shares of the bank’s stock worth $51,000 after purchasing an additional 140 shares during the last quarter. Hedge funds and other institutional investors own 90.52% of the company’s stock.
SVB Financial Group Company Profile
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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