SVB Financial Group (NASDAQ:SIVB – Get Rating) had its target price cut by investment analysts at The Goldman Sachs Group from $882.00 to $767.00 in a report issued on Monday, Benzinga reports. The firm currently has a “buy” rating on the bank’s stock. The Goldman Sachs Group’s price target would suggest a potential upside of 40.03% from the stock’s previous close.
SIVB has been the subject of several other reports. Stephens dropped their target price on SVB Financial Group from $790.00 to $700.00 in a research report on Monday, January 24th. Barclays upped their price target on SVB Financial Group from $755.00 to $789.00 and gave the stock an “equal weight” rating in a research note on Monday, January 3rd. Morgan Stanley decreased their price target on SVB Financial Group from $935.00 to $769.00 and set an “overweight” rating on the stock in a research note on Monday, March 28th. Wells Fargo & Company dropped their price objective on shares of SVB Financial Group from $900.00 to $810.00 and set an “overweight” rating for the company in a research note on Monday, March 21st. Finally, Wedbush reissued a “buy” rating and issued a $860.00 target price on shares of SVB Financial Group in a research note on Wednesday, February 16th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $771.76.
Shares of SIVB opened at $547.75 on Monday. The firm has a market cap of $32.21 billion, a PE ratio of 17.34, a P/E/G ratio of 2.23 and a beta of 1.81. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.20. The stock has a fifty day moving average price of $581.92 and a 200-day moving average price of $653.82. SVB Financial Group has a 12 month low of $474.20 and a 12 month high of $763.22.
SVB Financial Group (NASDAQ:SIVB – Get Rating) last posted its earnings results on Thursday, January 20th. The bank reported $6.56 EPS for the quarter, beating the Zacks’ consensus estimate of $6.29 by $0.27. SVB Financial Group had a return on equity of 17.07% and a net margin of 30.19%. The firm had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.45 billion. During the same period last year, the firm earned $7.40 EPS. The company’s quarterly revenue was up 23.7% on a year-over-year basis. As a group, research analysts forecast that SVB Financial Group will post 30.74 EPS for the current year.
In other SVB Financial Group news, CFO Daniel J. Beck sold 2,900 shares of the company’s stock in a transaction on Monday, February 28th. The stock was sold at an average price of $595.08, for a total value of $1,725,732.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CMO Michelle Draper sold 269 shares of the firm’s stock in a transaction on Tuesday, March 1st. The stock was sold at an average price of $603.58, for a total value of $162,363.02. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,812 shares of company stock worth $13,566,394. Company insiders own 0.62% of the company’s stock.
Institutional investors have recently modified their holdings of the business. First Horizon Advisors Inc. increased its stake in shares of SVB Financial Group by 987.5% in the third quarter. First Horizon Advisors Inc. now owns 87 shares of the bank’s stock valued at $25,000 after buying an additional 79 shares during the period. EverSource Wealth Advisors LLC bought a new position in shares of SVB Financial Group in the 4th quarter worth about $25,000. Carroll Investors Inc bought a new position in SVB Financial Group during the fourth quarter worth $27,000. Charter Oak Capital Management LLC acquired a new stake in shares of SVB Financial Group in the 4th quarter valued at about $28,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of SVB Financial Group during the fourth quarter valued at approximately $32,000. Hedge funds and other institutional investors own 88.96% of the company’s stock.
SVB Financial Group Company Profile (Get Rating)
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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