SVB Financial Group (SIVB) Given “Overweight” Rating at Morgan Stanley
Morgan Stanley reaffirmed their overweight rating on shares of SVB Financial Group (NASDAQ:SIVB) in a research report sent to investors on Wednesday. The firm currently has a $213.00 price objective on the bank’s stock, up from their previous price objective of $210.00.
A number of other research firms have also commented on SIVB. ValuEngine lowered shares of SVB Financial Group from a buy rating to a hold rating in a research report on Monday. Zacks Investment Research lowered shares of SVB Financial Group from a hold rating to a sell rating in a research report on Tuesday. BidaskClub raised shares of SVB Financial Group from a buy rating to a strong-buy rating in a research note on Wednesday, June 14th. Barclays PLC reissued an equal weight rating and issued a $191.00 price target (up from $188.00) on shares of SVB Financial Group in a research note on Wednesday, July 12th. Finally, Keefe, Bruyette & Woods reissued a buy rating and issued a $195.00 price target on shares of SVB Financial Group in a research note on Friday, July 14th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $203.00.
SVB Financial Group (NASDAQ SIVB) traded up 2.30% during mid-day trading on Wednesday, reaching $186.90. The company had a trading volume of 220,647 shares. The company has a market capitalization of $9.85 billion, a P/E ratio of 22.72 and a beta of 1.63. The stock has a 50 day moving average price of $173.17 and a 200 day moving average price of $177.93. SVB Financial Group has a one year low of $112.00 and a one year high of $198.83.
SVB Financial Group (NASDAQ:SIVB) last posted its quarterly earnings results on Thursday, July 27th. The bank reported $2.32 EPS for the quarter, topping analysts’ consensus estimates of $2.05 by $0.27. SVB Financial Group had a net margin of 24.36% and a return on equity of 11.27%. The company had revenue of $471.70 million for the quarter, compared to analysts’ expectations of $451.96 million. During the same quarter in the previous year, the firm posted $1.78 EPS. SVB Financial Group’s revenue was up 10.2% on a year-over-year basis. On average, equities analysts expect that SVB Financial Group will post $8.99 earnings per share for the current fiscal year.
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In other news, Director Eric Benhamou sold 2,000 shares of the firm’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $172.01, for a total transaction of $344,020.00. Following the sale, the director now directly owns 6,672 shares in the company, valued at approximately $1,147,650.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Philip C. Cox sold 3,024 shares of the firm’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $182.80, for a total transaction of $552,787.20. Following the sale, the insider now owns 2,872 shares in the company, valued at $525,001.60. The disclosure for this sale can be found here. Insiders have sold a total of 8,524 shares of company stock worth $1,534,052 over the last 90 days. Insiders own 0.73% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of SIVB. BDO Wealth Advisors LLC purchased a new position in SVB Financial Group during the second quarter valued at $109,000. Exane Derivatives purchased a new position in SVB Financial Group during the second quarter valued at $119,000. Peddock Capital Advisors LLC purchased a new position in SVB Financial Group during the second quarter valued at $130,000. Whittier Trust Co. of Nevada Inc. grew its stake in SVB Financial Group by 79.6% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 774 shares of the bank’s stock valued at $136,000 after acquiring an additional 343 shares in the last quarter. Finally, Global X Management Co. LLC grew its stake in SVB Financial Group by 58.6% during the second quarter. Global X Management Co. LLC now owns 782 shares of the bank’s stock valued at $137,000 after acquiring an additional 289 shares in the last quarter. 92.12% of the stock is owned by institutional investors.
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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