SVB Financial Group (NASDAQ:SIVB) Given New $269.00 Price Target at Truist Financial

SVB Financial Group (NASDAQ:SIVB – Get Rating) had its price objective increased by Truist Financial from $250.00 to $269.00 in a research note published on Monday, The Fly reports. Truist Financial currently has a buy rating on the bank’s stock.

Other equities analysts have also issued research reports about the company. Barclays cut their price target on SVB Financial Group from $411.00 to $308.00 and set an equal weight rating on the stock in a research note on Tuesday, January 3rd. Raymond James upped their price target on shares of SVB Financial Group from $260.00 to $285.00 and gave the stock an outperform rating in a research report on Friday. StockNews.com lowered shares of SVB Financial Group from a hold rating to a sell rating in a report on Monday, December 5th. TheStreet lowered SVB Financial Group from a b- rating to a c+ rating in a report on Thursday, September 29th. Finally, Janney Montgomery Scott cut SVB Financial Group from a buy rating to a neutral rating and increased their target price for the company from $280.00 to $500.00 in a research report on Friday, October 21st. Two equities 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 company. Based on data from MarketBeat.com, SVB Financial Group currently has a consensus rating of Hold and a consensus price target of $359.52.

SVB Financial Group Stock Up 2.5 %

Shares of NASDAQ SIVB opened at $298.69 on Monday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.48 and a quick ratio of 0.47. The company has a market cap of $17.65 billion, a P/E ratio of 11.78, a PEG ratio of 1.84 and a beta of 1.47. SVB Financial Group has a 1 year low of $198.10 and a 1 year high of $658.47. The firm has a 50-day simple moving average of $231.08 and a two-hundred day simple moving average of $314.38.

SVB Financial Group (NASDAQ:SIVB – Get Rating) last issued its earnings results on Thursday, January 19th. The bank reported $4.62 EPS for the quarter, missing analysts’ consensus estimates of $5.26 by ($0.64). SVB Financial Group had a return on equity of 13.02% and a net margin of 22.05%. The company had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same period last year, the business posted $6.22 earnings per share. The business’s revenue was up 1.9% compared to the same quarter last year. Research analysts anticipate that SVB Financial Group will post 19.81 earnings per share for the current year.

Insider Transactions at SVB Financial Group

In related news, CMO Michelle Draper sold 2,414 shares of the company’s stock in a transaction on Wednesday, December 28th. The stock was sold at an average price of $215.61, for a total value of $520,482.54. Following the transaction, the chief marketing officer now directly owns 2,997 shares of the company’s stock, valued at approximately $646,183.17. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CMO Michelle Draper sold 2,414 shares of the stock in a transaction dated Wednesday, December 28th. The stock was sold at an average price of $215.61, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 acquired at an average price of $232.06 per share, for a total transaction of $232,060.00. Following the acquisition, the director now owns 2,374 shares in the company, valued at approximately $550,910.44. The disclosure for this purchase can be found here. Insiders own 0.62% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Urban Wealth Management LLC purchased a new position in shares of SVB Financial Group during the 2nd quarter valued at about $26,000. Ronald Blue Trust Inc. raised its position in SVB Financial Group by 243.5% during the fourth quarter. Ronald Blue Trust Inc. now owns 79 shares of the bank’s stock valued at $26,000 after acquiring an additional 56 shares in the last quarter. First Horizon Advisors Inc. lifted its holdings in SVB Financial Group by 200.0% in the second quarter. First Horizon Advisors Inc. now owns 72 shares of the bank’s stock valued at $27,000 after acquiring an additional 48 shares during the period. Massmutual Trust Co. FSB ADV boosted its position in SVB Financial Group by 500.0% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 120 shares of the bank’s stock worth $28,000 after purchasing an additional 100 shares in the last quarter. Finally, TCI Wealth Advisors Inc. grew its stake in shares of SVB Financial Group by 52.0% during the 2nd quarter. TCI Wealth Advisors Inc. now owns 76 shares of the bank’s stock worth $30,000 after purchasing an additional 26 shares during the period. 92.35% of the stock is currently owned by institutional investors and hedge funds.

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.