Maxim Group Reiterates “Buy” Rating for SVB Financial Group (SIVB)
SVB Financial Group (NASDAQ:SIVB)‘s stock had its “buy” rating reaffirmed by stock analysts at Maxim Group in a report issued on Monday. They currently have a $250.00 target price on the bank’s stock, up from their prior target price of $220.00. Maxim Group’s price target suggests a potential upside of 14.01% from the stock’s current price.
A number of other equities analysts have also recently commented on SIVB. Zacks Investment Research raised shares of SVB Financial Group from a “hold” rating to a “buy” rating and set a $197.00 price target for the company in a research note on Tuesday, July 4th. 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 note on Wednesday, July 12th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $195.00 price target on shares of SVB Financial Group in a research note on Friday, July 14th. Piper Jaffray Companies reissued a “buy” rating and issued a $212.00 price target on shares of SVB Financial Group in a research note on Friday, July 14th. Finally, BidaskClub cut shares of SVB Financial Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. SVB Financial Group currently has an average rating of “Buy” and a consensus price target of $211.83.
SVB Financial Group (NASDAQ SIVB) opened at 219.28 on Monday. SVB Financial Group has a 52 week low of $116.59 and a 52 week high of $223.82. The company has a 50-day moving average of $185.89 and a 200 day moving average of $179.46. The company has a market cap of $11.55 billion, a P/E ratio of 26.65 and a beta of 1.63.
SVB Financial Group (NASDAQ:SIVB) last released its quarterly earnings results on Thursday, October 26th. The bank reported $2.79 EPS for the quarter, topping the Zacks’ consensus estimate of $2.29 by $0.50. SVB Financial Group had a net margin of 25.07% and a return on equity of 11.88%. The business had revenue of $533.40 million during the quarter, compared to analysts’ expectations of $490.56 million. During the same quarter in the previous year, the company earned $2.12 EPS. The business’s quarterly revenue was up 23.0% compared to the same quarter last year. On average, equities analysts forecast that SVB Financial Group will post $9.59 EPS for the current fiscal year.
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In other news, Director Eric Benhamou sold 2,000 shares of the company’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $172.01, for a total value of $344,020.00. Following the completion of the sale, the director now owns 6,672 shares of the company’s stock, valued at approximately $1,147,650.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.73% of the stock is currently owned by corporate insiders.
A number of large investors have recently bought and sold shares of the stock. Raymond James Trust N.A. raised its holdings in SVB Financial Group by 0.3% during the 2nd quarter. Raymond James Trust N.A. now owns 1,474 shares of the bank’s stock valued at $259,000 after buying an additional 4 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in SVB Financial Group by 0.3% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,661 shares of the bank’s stock valued at $1,347,000 after buying an additional 20 shares during the last quarter. Pacer Advisors Inc. raised its holdings in SVB Financial Group by 9.2% during the 2nd quarter. Pacer Advisors Inc. now owns 1,031 shares of the bank’s stock valued at $181,000 after buying an additional 87 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in SVB Financial Group by 11.7% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 860 shares of the bank’s stock valued at $160,000 after buying an additional 90 shares during the last quarter. Finally, Utah Retirement Systems raised its holdings in SVB Financial Group by 1.1% during the 2nd quarter. Utah Retirement Systems now owns 9,600 shares of the bank’s stock valued at $1,687,000 after buying an additional 100 shares during the last quarter. Institutional investors own 92.08% of the company’s stock.
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.
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