SVB Financial Group (NASDAQ:SIVB) Shares Gap Up Following Analyst Upgrade

SVB Financial Group (NASDAQ:SIVBGet Rating)’s share price gapped up prior to trading on Friday after Raymond James raised their price target on the stock from $260.00 to $285.00. The stock had previously closed at $250.04, but opened at $260.00. Raymond James currently has an outperform rating on the stock. SVB Financial Group shares last traded at $282.12, with a volume of 22,128 shares trading hands.

Several other equities research analysts also recently commented on the stock. Janney Montgomery Scott downgraded shares of SVB Financial Group from a “buy” rating to a “neutral” rating and upped their price target for the company from $280.00 to $500.00 in a research report on Friday, October 21st. StockNews.com downgraded shares of SVB Financial Group from a “hold” rating to a “sell” rating in a research report on Monday, December 5th. Morgan Stanley increased their price target on shares of SVB Financial Group from $186.00 to $190.00 and gave the stock an “underweight” rating in a research note on Thursday, December 15th. Wedbush dropped their price target on shares of SVB Financial Group from $385.00 to $275.00 and set a “neutral” rating on the stock in a research note on Friday, October 21st. Finally, Royal Bank of Canada dropped their price target on shares of SVB Financial Group from $474.00 to $350.00 and set an “outperform” rating on the stock in a research note on Friday, October 21st. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $363.37.

Insider Transactions at SVB Financial Group

In other SVB Financial Group 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 cost of $232.06 per share, with a total value of $232,060.00. Following the acquisition, the director now owns 2,374 shares of the company’s stock, valued at $550,910.44. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Beverly Kay Matthews purchased 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 3rd. The stock was purchased at an average cost of $232.06 per share, with a total value of $232,060.00. Following the acquisition, the director now directly owns 2,374 shares of the company’s stock, valued at approximately $550,910.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CMO Michelle Draper sold 2,414 shares of SVB Financial Group stock in a transaction dated Wednesday, December 28th. The shares were sold at an average price of $215.61, for a total transaction of $520,482.54. Following the transaction, the chief marketing officer now directly owns 2,997 shares of the company’s stock, valued at $646,183.17. The disclosure for this sale can be found here. 0.62% of the stock is owned by insiders.

Hedge Funds Weigh In On SVB Financial Group

A number of institutional investors have recently modified their holdings of the stock. Perigon Wealth Management LLC raised its stake in shares of SVB Financial Group by 2.3% in the second quarter. Perigon Wealth Management LLC now owns 1,032 shares of the bank’s stock worth $408,000 after acquiring an additional 23 shares during the last quarter. TCI Wealth Advisors Inc. raised its stake in shares of SVB Financial Group by 52.0% in the second quarter. TCI Wealth Advisors Inc. now owns 76 shares of the bank’s stock worth $30,000 after acquiring an additional 26 shares during the last quarter. Security National Bank raised its stake in shares of SVB Financial Group by 0.3% in the third quarter. Security National Bank now owns 10,445 shares of the bank’s stock worth $3,507,000 after acquiring an additional 31 shares during the last quarter. Geneos Wealth Management Inc. raised its stake in shares of SVB Financial Group by 100.0% in the first quarter. Geneos Wealth Management Inc. now owns 72 shares of the bank’s stock worth $40,000 after acquiring an additional 36 shares during the last quarter. Finally, Integrated Advisors Network LLC raised its stake in shares of SVB Financial Group by 5.0% in the second quarter. Integrated Advisors Network LLC now owns 841 shares of the bank’s stock worth $332,000 after acquiring an additional 40 shares during the last quarter. 92.35% of the stock is owned by institutional investors.

SVB Financial Group Stock Performance

The company has a market capitalization of $17.23 billion, a P/E ratio of 10.81, a P/E/G ratio of 1.59 and a beta of 1.47. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.47 and a quick ratio of 0.47. The stock’s 50 day simple moving average is $229.51 and its two-hundred day simple moving average is $316.57.

SVB Financial Group (NASDAQ:SIVBGet Rating) last issued its quarterly earnings results on Thursday, January 19th. The bank reported $4.62 EPS for the quarter, missing the consensus estimate of $5.36 by ($0.74). SVB Financial Group had a return on equity of 13.72% and a net margin of 25.57%. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the prior year, the firm earned $6.22 EPS. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. As a group, research analysts expect that SVB Financial Group will post 25.97 earnings per share for the current year.

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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