SVB Financial Group (SIVB) Lowered to “Hold” at BidaskClub

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BidaskClub lowered shares of SVB Financial Group (NASDAQ:SIVB) from a buy rating to a hold rating in a report released on Tuesday.

Several other analysts have also commented on SIVB. JPMorgan Chase & Co. increased their price target on shares of SVB Financial Group from $345.00 to $375.00 and gave the company an overweight rating in a research report on Monday, June 11th. They noted that the move was a valuation call. ValuEngine raised shares of SVB Financial Group from a hold rating to a buy rating in a research report on Friday, April 27th. Maxim Group increased their price target on shares of SVB Financial Group from $300.00 to $350.00 and gave the company a buy rating in a research report on Monday, April 30th. They noted that the move was a valuation call. Wedbush increased their price target on shares of SVB Financial Group from $263.00 to $315.00 and gave the company a neutral rating in a research report on Friday, April 27th. Finally, JMP Securities increased their price target on shares of SVB Financial Group from $290.00 to $345.00 and gave the company a market outperform rating in a research report on Monday, April 30th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. SVB Financial Group has a consensus rating of Buy and an average price target of $314.53.

SIVB stock opened at $291.65 on Tuesday. The stock has a market cap of $15.33 billion, a price-to-earnings ratio of 29.43, a PEG ratio of 1.65 and a beta of 1.40. SVB Financial Group has a one year low of $159.44 and a one year high of $329.65. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.42.

SVB Financial Group (NASDAQ:SIVB) last released its quarterly earnings results on Thursday, April 26th. The bank reported $3.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.13 by $0.50. The business had revenue of $575.38 million during the quarter, compared to analyst estimates of $535.60 million. SVB Financial Group had a net margin of 26.89% and a return on equity of 14.53%. During the same period in the prior year, the firm posted $1.91 earnings per share. analysts predict that SVB Financial Group will post 15.98 earnings per share for the current year.

In related news, Director Kate Mitchell sold 737 shares of the stock in a transaction that occurred on Wednesday, May 30th. The shares were sold at an average price of $314.78, for a total value of $231,992.86. Following the completion of the transaction, the director now directly owns 7,949 shares of the company’s stock, valued at approximately $2,502,186.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gregory W. Becker sold 3,028 shares of the stock in a transaction that occurred on Wednesday, April 4th. The shares were sold at an average price of $233.52, for a total transaction of $707,098.56. The disclosure for this sale can be found here. Insiders sold a total of 9,043 shares of company stock valued at $2,581,033 over the last ninety days. 0.74% of the stock is currently owned by insiders.

Institutional investors have recently made changes to their positions in the stock. Wagner Wealth Management LLC purchased a new position in shares of SVB Financial Group in the 4th quarter valued at approximately $100,000. Smithfield Trust Co. increased its holdings in SVB Financial Group by 2,857.1% in the 1st quarter. Smithfield Trust Co. now owns 621 shares of the bank’s stock worth $149,000 after buying an additional 600 shares during the period. Point72 Asia Hong Kong Ltd increased its holdings in SVB Financial Group by 716.9% in the 1st quarter. Point72 Asia Hong Kong Ltd now owns 629 shares of the bank’s stock worth $151,000 after buying an additional 552 shares during the period. We Are One Seven LLC acquired a new position in SVB Financial Group in the 4th quarter worth approximately $169,000. Finally, Private Capital Group LLC increased its holdings in SVB Financial Group by 145.0% in the 1st quarter. Private Capital Group LLC now owns 735 shares of the bank’s stock worth $176,000 after buying an additional 435 shares during the period. 90.29% of the stock is owned by hedge funds and other institutional investors.

SVB Financial Group Company Profile

SVB Financial Group, a diversified financial services company, provides various banking and financial products and services. Its 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 card account analysis, and disbursement, as well as online and mobile banking services.

Analyst Recommendations for SVB Financial Group (NASDAQ:SIVB)

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