Jefferies Financial Group Brokers Increase Earnings Estimates for SVB Financial Group (SIVB)
SVB Financial Group (NASDAQ:SIVB) – Investment analysts at Jefferies Financial Group boosted their Q4 2018 EPS estimates for shares of SVB Financial Group in a research note issued to investors on Tuesday, November 13th, Zacks Investment Research reports. Jefferies Financial Group analyst C. Haire now expects that the bank will earn $4.81 per share for the quarter, up from their previous estimate of $4.80. Jefferies Financial Group has a “Buy” rating and a $278.00 price target on the stock.
A number of other equities research analysts have also recently commented on SIVB. Barclays reduced their price target on shares of SVB Financial Group from $357.00 to $330.00 and set an “equal weight” rating for the company in a report on Friday, October 26th. Bank of America reduced their price target on shares of SVB Financial Group from $400.00 to $350.00 and set a “buy” rating for the company in a report on Friday, October 26th. Zacks Investment Research restated a “hold” rating on shares of SVB Financial Group in a report on Thursday, November 15th. Royal Bank of Canada set a $330.00 price target on shares of SVB Financial Group and gave the stock a “buy” rating in a report on Friday, October 26th. Finally, BidaskClub cut shares of SVB Financial Group from a “sell” rating to a “strong sell” rating in a report on Friday, October 26th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $333.18.
SVB Financial Group (NASDAQ:SIVB) last posted its quarterly earnings data on Thursday, October 25th. The bank reported $5.10 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $4.44 by $0.66. SVB Financial Group had a net margin of 32.44% and a return on equity of 18.39%. The company had revenue of $703.29 million during the quarter, compared to analysts’ expectations of $664.51 million.
Several institutional investors and hedge funds have recently added to or reduced their stakes in SIVB. Allianz Asset Management GmbH lifted its position in shares of SVB Financial Group by 93.0% during the first quarter. Allianz Asset Management GmbH now owns 2,113 shares of the bank’s stock valued at $507,000 after purchasing an additional 1,018 shares in the last quarter. Xact Kapitalforvaltning AB lifted its position in shares of SVB Financial Group by 18.9% during the second quarter. Xact Kapitalforvaltning AB now owns 8,818 shares of the bank’s stock valued at $2,546,000 after purchasing an additional 1,400 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in shares of SVB Financial Group by 8.2% during the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 15,958 shares of the bank’s stock valued at $4,608,000 after purchasing an additional 1,208 shares in the last quarter. NN Investment Partners Holdings N.V. lifted its position in shares of SVB Financial Group by 22.5% during the second quarter. NN Investment Partners Holdings N.V. now owns 10,360 shares of the bank’s stock valued at $2,992,000 after purchasing an additional 1,903 shares in the last quarter. Finally, Bank of Montreal Can bought a new position in shares of SVB Financial Group during the second quarter valued at about $96,584,000. 88.41% of the stock is currently owned by institutional investors.
In other SVB Financial Group news, insider Philip C. Cox sold 620 shares of the firm’s stock in a transaction on Wednesday, November 28th. The shares were sold at an average price of $238.96, for a total value of $148,155.20. Following the transaction, the insider now directly owns 6,511 shares of the company’s stock, valued at $1,555,868.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael Descheneaux sold 1,750 shares of the firm’s stock in a transaction on Thursday, November 1st. The shares were sold at an average price of $239.73, for a total transaction of $419,527.50. Following the completion of the transaction, the insider now directly owns 18,289 shares in the company, valued at $4,384,421.97. The disclosure for this sale can be found here. Insiders sold 2,870 shares of company stock worth $729,718 over the last ninety days. Insiders own 0.74% of the company’s stock.
SVB Financial Group declared that its board has authorized a share repurchase plan on Tuesday, November 13th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the bank to purchase up to 3.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
About SVB Financial Group
SVB Financial Group, a diversified financial services company, provides various banking and financial products and services. Its 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 card account analysis, and disbursement, as well as online and mobile banking services.
Featured Story: Google Finance Portfolio Tips and Tricks
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for SVB Financial Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SVB Financial Group and related companies with MarketBeat.com's FREE daily email newsletter.