SVB Financial Group (NASDAQ:SIVB – Get Rating) had its price objective increased by investment analysts at Raymond James from $285.00 to $375.00 in a report released on Friday, Benzinga reports. The firm currently has an "outperform" rating on the bank's stock. Raymond James' target price would indicate a potential upside of 16.02% from the company's previous close.
Several other research firms have also recently issued reports on SIVB. Wedbush decreased their target price on shares of SVB Financial Group from $385.00 to $275.00 and set a "neutral" rating for the company in a research note on Friday, October 21st. StockNews.com lowered SVB Financial Group from a "hold" rating to a "sell" rating in a report on Monday, December 5th. Piper Sandler decreased their price target on SVB Financial Group from $265.00 to $220.00 and set a "neutral" rating on the stock in a research note on Wednesday, December 7th. Wolfe Research lowered their price objective on shares of SVB Financial Group from $315.00 to $235.00 in a research report on Thursday, December 1st. Finally, Barclays dropped their price objective on SVB Financial Group from $411.00 to $308.00 and set an "equal weight" rating for the company in a research note on Tuesday, January 3rd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat, SVB Financial Group presently has an average rating of "Hold" and an average price target of $363.80.
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SVB Financial Group Stock Down 3.1 %
Shares of SVB Financial Group stock opened at $323.21 on Friday. The company has a market cap of $19.10 billion, a P/E ratio of 12.75, a PEG ratio of 2.19 and a beta of 1.55. SVB Financial Group has a 52-week low of $198.10 and a 52-week high of $658.47. The company has a quick ratio of 0.47, a current ratio of 0.48 and a debt-to-equity ratio of 0.42. The firm's 50 day moving average price is $245.63 and its 200-day moving average price is $308.41.
SVB Financial Group (NASDAQ:SIVB – Get Rating) last issued its quarterly earnings results on Thursday, January 19th. The bank reported $4.62 earnings per share for the quarter, missing the consensus estimate of $5.26 by ($0.64). The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.48 billion. SVB Financial Group had a return on equity of 13.02% and a net
margin of 22.05%. SVB Financial Group's revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the business posted $6.22 EPS. On average, sell-side analysts predict that SVB Financial Group will post 19.06 EPS for the current fiscal year.
Insider Transactions at SVB Financial Group
In other news, Director Beverly Kay Matthews acquired 1,000 shares of SVB Financial Group stock in a transaction dated Tuesday, January 3rd. The stock was bought at an average price of $232.06 per share, for a total transaction of $232,060.00. Following the completion of the acquisition, the director now directly owns 2,374 shares in the company, valued at approximately $550,910.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CMO Michelle Draper sold 165 shares of the stock in a transaction on Friday, January 20th. The stock was sold at an average price of $300.00, for a total value of $49,500.00. Following the transaction, the chief marketing officer now directly owns 4,261 shares in the company, valued at approximately $1,278,300. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Beverly Kay Matthews purchased 1,000 shares of the company's stock in a transaction that occurred on Tuesday, January 3rd. The shares were purchased at an average cost of $232.06 per share, for a total transaction of $232,060.00. Following the completion of the transaction, the director now directly owns 2,374 shares of the company's stock, valued at $550,910.44. The disclosure for this purchase can be found here. Insiders sold 3,553 shares of company stock valued at $862,855 over the last three months. Company insiders own 0.62% of the company's stock.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in SVB Financial Group by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 6,501,639 shares of the bank's stock worth $2,183,121,000 after buying an additional 77,764 shares in the last quarter. State Street Corp grew its stake in SVB Financial Group by 9.3% in the 3rd quarter. State Street Corp now owns 3,077,777 shares of the bank's stock worth $1,033,456,000 after acquiring an additional 261,078 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in SVB Financial Group by 2.8% during the second quarter. JPMorgan Chase & Co. now owns 2,431,504 shares of the bank's stock worth $960,423,000 after buying an additional 66,796 shares during the period. Alecta Tjanstepension Omsesidigt lifted its position in SVB Financial Group by 12.0% during the third quarter. Alecta Tjanstepension Omsesidigt now owns 2,408,100 shares of the bank's stock valued at $808,592,000 after acquiring an additional 258,100 shares during the last quarter. Finally, Artisan Partners Limited Partnership boosted its holdings in SVB Financial Group by 82.5% in the third quarter. Artisan Partners Limited Partnership now owns 1,413,144 shares of the bank's stock worth $474,505,000 after acquiring an additional 638,862 shares in the last quarter. 92.35% of the stock is currently owned by institutional investors.
SVB Financial Group Company Profile
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SVB Financial Group is a holding company, which engages in the provision of banking and financial services. It operates through the following segments: Global Commercial Bank, SVB Private Bank, SVB Capital, and SVB Leerink. The Global Commercial Bank segment consists of results from the commercial bank, private equity division, SVB wine, SVB analytics, and debt fund investments.
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