Raymond James Trust N.A. lifted its holdings in shares of SVB Financial Group (NASDAQ:SIVB – Get Rating) by 66.9% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 873 shares of the bank's stock after acquiring an additional 350 shares during the period. Raymond James Trust N.A.'s holdings in SVB Financial Group were worth $345,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Vanguard Group Inc. boosted its position in SVB Financial Group by 1.5% in the first quarter. Vanguard Group Inc. now owns 6,346,725 shares of the bank's stock valued at $3,550,675,000 after buying an additional 92,553 shares during the last quarter. BlackRock Inc. boosted its position in SVB Financial Group by 3.0% in the first quarter. BlackRock Inc. now owns 5,302,020 shares of the bank's stock valued at $2,966,216,000 after buying an additional 154,048 shares during the last quarter. State Street Corp boosted its position in SVB Financial Group by 0.7% in the first quarter. State Street Corp now owns 2,932,895 shares of the bank's stock valued at $1,640,808,000 after buying an additional 20,340 shares during the last quarter. Capital International Investors boosted its position in SVB Financial Group by 28.0% in the first quarter. Capital International Investors now owns 2,449,195 shares of the bank's stock valued at $1,370,224,000 after buying an additional 535,924 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in SVB Financial Group by 3.6% in the first quarter. JPMorgan Chase & Co. now owns 2,364,708 shares of the bank's stock valued at $1,322,935,000 after buying an additional 81,377 shares during the last quarter. Hedge funds and other institutional investors own 91.48% of the company's stock.
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Analyst Upgrades and Downgrades
A number of equities research analysts recently commented on SIVB shares. Wells Fargo & Company dropped their target price on SVB Financial Group from $650.00 to $550.00 in a research report on Friday, July 22nd. Evercore ISI raised SVB Financial Group from an "in-line" rating to an "outperform" rating and set a $430.00 price target for the company in a report on Monday, July 25th. JPMorgan Chase & Co. decreased their price target on SVB Financial Group from $875.00 to $650.00 and set an "overweight" rating for the company in a report on Friday, July 1st. Morgan Stanley decreased their price target on SVB Financial Group from $523.00 to $493.00 and set an "overweight" rating for the company in a report on Friday, July 22nd. Finally, The Goldman Sachs Group decreased their price target on SVB Financial Group from $674.00 to $554.50 and set a "buy" rating for the company in a report on Tuesday, May 31st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $547.57.
SVB Financial Group Stock Down 0.6 %
Shares of NASDAQ:SIVB opened at $333.84 on Wednesday. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 0.27. The business has a fifty day moving average of $404.16 and a two-hundred day moving average of $451.93. The stock has a market cap of $19.72 billion, a P/E ratio of 12.85, a PEG ratio of 1.46 and a beta of 1.72. SVB Financial Group has a 52-week low of $328.27 and a 52-week high of $763.22.
SVB Financial Group (NASDAQ:SIVB – Get Rating) last issued its earnings results on Thursday, July 21st. The bank reported $5.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.68 by ($2.08). The company had revenue of $1.54 billion during the quarter, compared to analysts' expectations of $1.64 billion. SVB Financial Group had a net margin of 25.58% and a return on equity of 13.43%. During the same quarter in the previous year, the company earned $9.09 earnings per share. On average, research analysts expect that SVB Financial Group will post 29.22 earnings per share for the current year.
SVB Financial Group Company Profile
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SVB Financial Group, a diversified financial services company, offers various banking and financial products and services. It operates through four segments: Global Commercial Bank, SVB Private Bank, SVB Capital, and SVB Securities. The Global Commercial Bank segment provides commercial banking products and services, including credit, treasury management, foreign exchange, trade finance, and other financial products and services.
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