SVB Financial Group (NASDAQ:SIVB) has been assigned a $250.00 price target by research analysts at SunTrust Banks in a report released on Wednesday, TipRanks reports. The brokerage presently has a “buy” rating on the bank’s stock. SunTrust Banks’ price objective indicates a potential upside of 15.43% from the stock’s previous close. SunTrust Banks also issued estimates for SVB Financial Group’s Q3 2019 earnings at $5.19 EPS and FY2019 earnings at $21.41 EPS.
Several other analysts have also recently issued reports on SIVB. ValuEngine cut SVB Financial Group from a “hold” rating to a “sell” rating in a report on Tuesday, August 6th. Barclays dropped their target price on SVB Financial Group from $300.00 to $275.00 and set an “overweight” rating for the company in a report on Thursday, September 12th. Morgan Stanley dropped their target price on SVB Financial Group from $310.00 to $280.00 and set an “overweight” rating for the company in a report on Monday, July 1st. Sanford C. Bernstein cut SVB Financial Group from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 28th. Finally, Wells Fargo & Co cut SVB Financial Group from an “outperform” rating to a “market perform” rating and set a $224.59 target price for the company. in a report on Monday, July 1st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $269.15.
NASDAQ:SIVB traded up $0.52 during trading hours on Wednesday, hitting $216.58. The company had a trading volume of 474,420 shares, compared to its average volume of 509,806. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.12. The company has a 50-day moving average of $202.06 and a 200 day moving average of $223.03. The company has a market cap of $11.11 billion, a P/E ratio of 11.88, a P/E/G ratio of 1.34 and a beta of 2.14. SVB Financial Group has a 1 year low of $177.70 and a 1 year high of $330.50.
In other SVB Financial Group news, insider Philip C. Cox sold 848 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $225.00, for a total value of $190,800.00. Following the sale, the insider now owns 8,264 shares of the company’s stock, valued at approximately $1,859,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Philip C. Cox sold 350 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $230.80, for a total value of $80,780.00. Following the completion of the sale, the chief operating officer now directly owns 7,909 shares in the company, valued at approximately $1,825,397.20. The disclosure for this sale can be found here. Insiders sold a total of 6,395 shares of company stock worth $1,379,838 in the last ninety days. 0.73% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Patriot Financial Group Insurance Agency LLC raised its position in shares of SVB Financial Group by 3,733.3% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 115 shares of the bank’s stock worth $25,000 after acquiring an additional 112 shares in the last quarter. Griffin Asset Management Inc. purchased a new position in SVB Financial Group during the 2nd quarter worth approximately $28,000. Pearl River Capital LLC purchased a new position in SVB Financial Group during the 2nd quarter worth approximately $30,000. NEXT Financial Group Inc purchased a new position in shares of SVB Financial Group in the 2nd quarter valued at approximately $33,000. Finally, CSat Investment Advisory L.P. grew its stake in shares of SVB Financial Group by 171.1% in the 2nd quarter. CSat Investment Advisory L.P. now owns 263 shares of the bank’s stock valued at $59,000 after purchasing an additional 166 shares during the last quarter. 91.21% of the stock is currently owned by institutional investors and hedge funds.
SVB Financial Group Company Profile
SVB Financial Group, a diversified financial services company, provides various banking and financial products and services. The company operates through three segments: Global Commercial Bank, SVB Private Bank, and SVB Capital. The 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 and credit cards, account analysis, and disbursement, as well as online and mobile banking services.
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