SVB Financial Group (NASDAQ:SIVB) PT Set at $250.00 by SunTrust Banks
SVB Financial Group (NASDAQ:SIVB) has been given a $250.00 price objective by equities research analysts at SunTrust Banks in a research report issued to clients and investors on Wednesday, TipRanks reports. The firm currently has a “buy” rating on the bank’s stock. SunTrust Banks’ price objective indicates a potential upside of 15.43% from the stock’s previous close. SunTrust Banks also issued estimates for SVB Financial Group’s Q3 2019 earnings at $5.19 EPS and FY2019 earnings at $21.41 EPS.
Other research analysts have also issued reports about the stock. Stephens reaffirmed a “buy” rating and set a $250.00 price objective on shares of SVB Financial Group in a research note on Tuesday. Keefe, Bruyette & Woods lowered shares of SVB Financial Group from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $300.00 to $255.00 in a research note on Sunday, July 7th. ValuEngine downgraded SVB Financial Group from a “hold” rating to a “sell” rating in a research report on Tuesday, August 6th. Maxim Group reiterated a “buy” rating and set a $300.00 target price (down from $325.00) on shares of SVB Financial Group in a research report on Monday, July 29th. Finally, JMP Securities decreased their target price on SVB Financial Group to $275.00 and set an “outperform” rating for the company in a research report on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the company. SVB Financial Group currently has an average rating of “Buy” and a consensus price target of $269.15.
Shares of SIVB stock traded up $0.52 on Wednesday, reaching $216.58. The company’s stock had a trading volume of 474,420 shares, compared to its average volume of 509,806. The stock’s fifty day simple moving average is $202.06 and its 200-day simple moving average is $223.03. SVB Financial Group has a 1 year low of $177.70 and a 1 year high of $330.50. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $11.11 billion, a price-to-earnings ratio of 11.88, a price-to-earnings-growth ratio of 1.34 and a beta of 2.14.
In other SVB Financial Group news, COO Philip C. Cox sold 197 shares of SVB Financial Group stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $227.45, for a total value of $44,807.65. Following the transaction, the chief operating officer now owns 8,185 shares in the company, valued at $1,861,678.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael Descheneaux sold 3,000 shares of SVB Financial Group stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $201.19, for a total value of $603,570.00. Following the completion of the transaction, the insider now owns 21,438 shares in the company, valued at approximately $4,313,111.22. The disclosure for this sale can be found here. Insiders sold 6,395 shares of company stock valued at $1,379,838 over the last 90 days. 0.73% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Advisory Services Network LLC grew its stake in SVB Financial Group by 11.0% in the second quarter. Advisory Services Network LLC now owns 503 shares of the bank’s stock valued at $113,000 after purchasing an additional 50 shares during the last quarter. Nordea Investment Management AB grew its stake in SVB Financial Group by 1.7% in the first quarter. Nordea Investment Management AB now owns 3,250 shares of the bank’s stock valued at $723,000 after purchasing an additional 54 shares during the last quarter. Altman Advisors Inc. grew its stake in SVB Financial Group by 0.7% in the second quarter. Altman Advisors Inc. now owns 7,392 shares of the bank’s stock valued at $1,660,000 after purchasing an additional 54 shares during the last quarter. Seeyond grew its stake in SVB Financial Group by 11.6% in the second quarter. Seeyond now owns 518 shares of the bank’s stock valued at $116,000 after purchasing an additional 54 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its stake in SVB Financial Group by 5.7% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,155 shares of the bank’s stock valued at $257,000 after purchasing an additional 62 shares during the last quarter. Institutional investors own 91.21% of the company’s stock.
SVB Financial Group Company Profile
SVB Financial Group, a diversified financial services company, provides various banking and financial products and services. The company operates through three segments: Global Commercial Bank, SVB Private Bank, and SVB Capital. The 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 and credit cards, account analysis, and disbursement, as well as online and mobile banking services.
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