SVB Financial Group (SIVB) Earns “Overweight” Rating from Morgan Stanley

Morgan Stanley reissued their overweight rating on shares of SVB Financial Group (NASDAQ:SIVB) in a report published on Wednesday, October 4th. The firm currently has a $213.00 price target on the bank’s stock, up from their previous price target of $210.00.

Several other analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of SVB Financial Group from a buy rating to a hold rating in a research report on Friday, July 7th. Wedbush reissued a neutral rating and issued a $192.00 price target on shares of SVB Financial Group in a research report on Tuesday, June 27th. BidaskClub downgraded shares of SVB Financial Group from a strong-buy rating to a buy rating in a research report on Friday, June 23rd. Barclays PLC reissued an equal weight rating and issued a $191.00 price target (up previously from $188.00) on shares of SVB Financial Group in a research report on Wednesday, July 12th. Finally, Piper Jaffray Companies reissued a buy rating and issued a $212.00 price target on shares of SVB Financial Group in a research report on Friday, July 14th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $203.00.

SVB Financial Group (NASDAQ SIVB) traded down 0.39% on Wednesday, hitting $184.47. 67,206 shares of the stock traded hands. The stock has a 50-day moving average price of $177.25 and a 200 day moving average price of $178.32. The company has a market cap of $9.72 billion, a price-to-earnings ratio of 22.42 and a beta of 1.63. SVB Financial Group has a 1-year low of $114.22 and a 1-year high of $198.83.

SVB Financial Group (NASDAQ:SIVB) last released its quarterly earnings data on Thursday, July 27th. The bank reported $2.32 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.27. SVB Financial Group had a net margin of 24.36% and a return on equity of 11.27%. The company had revenue of $471.70 million during the quarter, compared to analyst estimates of $451.96 million. During the same quarter in the previous year, the business posted $1.78 EPS. SVB Financial Group’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, analysts anticipate that SVB Financial Group will post $8.99 EPS for the current fiscal year.

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In related news, Director Eric Benhamou sold 2,000 shares of the business’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $172.01, for a total value of $344,020.00. Following the transaction, the director now directly owns 6,672 shares of the company’s stock, valued at approximately $1,147,650.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Michael Descheneaux sold 3,500 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $182.07, for a total transaction of $637,245.00. Following the completion of the transaction, the insider now directly owns 14,064 shares in the company, valued at $2,560,632.48. The disclosure for this sale can be found here. Insiders have sold a total of 8,524 shares of company stock worth $1,534,052 over the last ninety days. Insiders own 0.73% of the company’s stock.

Several large investors have recently modified their holdings of SIVB. BDO Wealth Advisors LLC purchased a new position in shares of SVB Financial Group in the 2nd quarter worth about $109,000. Exane Derivatives purchased a new position in shares of SVB Financial Group in the 2nd quarter worth about $119,000. Peddock Capital Advisors LLC purchased a new position in shares of SVB Financial Group in the 2nd quarter worth about $130,000. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of SVB Financial Group by 79.6% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 774 shares of the bank’s stock worth $136,000 after buying an additional 343 shares during the last quarter. Finally, Global X Management Co. LLC boosted its holdings in shares of SVB Financial Group by 58.6% in the 2nd quarter. Global X Management Co. LLC now owns 782 shares of the bank’s stock worth $137,000 after buying an additional 289 shares during the last quarter. 92.04% of the stock is currently owned by institutional investors.

SVB Financial Group Company Profile

SVB Financial Group is a financial services company, as well as a bank holding and a financial holding company. The Company’s segments include Global Commercial Bank, SVB Private Bank and SVB Capital. The Global Commercial Bank segment consists of the operations of its Commercial Bank, and of SVB Wine, SVB Analytics and its Debt Fund Investments.

Analyst Recommendations for SVB Financial Group (NASDAQ:SIVB)

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