SVB Financial Group (NASDAQ:SIVB) Rating Reiterated by Piper Jaffray Companies

SVB Financial Group (NASDAQ:SIVB)‘s stock had its “buy” rating reissued by analysts at Piper Jaffray Companies in a research note issued to investors on Friday. They currently have a $212.00 price target on the bank’s stock. Piper Jaffray Companies’ target price would indicate a potential upside of 17.41% from the company’s previous close.

A number of other research analysts have also recently weighed in on the company. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $195.00 target price on shares of SVB Financial Group in a report on Friday. Barclays PLC restated an “equal weight” rating and set a $191.00 price objective (up previously from $188.00) on shares of SVB Financial Group in a research note on Wednesday, July 12th. Zacks Investment Research cut SVB Financial Group from a “buy” rating to a “hold” rating in a research note on Friday, July 7th. Wedbush restated a “neutral” rating and set a $192.00 price objective on shares of SVB Financial Group in a research note on Tuesday, June 27th. Finally, BidaskClub cut SVB Financial Group from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 23rd. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $200.27.

Shares of SVB Financial Group (SIVB) opened at 180.57 on Friday. The stock has a market cap of $9.48 billion, a P/E ratio of 23.46 and a beta of 1.60. The company has a 50 day moving average price of $176.72 and a 200 day moving average price of $179.51. SVB Financial Group has a 12-month low of $96.86 and a 12-month high of $198.83.

SVB Financial Group (NASDAQ:SIVB) last issued its earnings results on Thursday, April 27th. The bank reported $1.91 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.86 by $0.05. SVB Financial Group had a return on equity of 10.77% and a net margin of 23.67%. The firm had revenue of $427.65 million for the quarter, compared to analysts’ expectations of $429.13 million. During the same quarter last year, the firm earned $1.52 earnings per share. The firm’s revenue for the quarter was up 16.4% compared to the same quarter last year. Analysts anticipate that SVB Financial Group will post $8.66 earnings per share for the current fiscal year.

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In other news, insider Bruce Wallace sold 8,790 shares of SVB Financial Group stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $182.58, for a total transaction of $1,604,878.20. Following the sale, the insider now directly owns 14,248 shares of the company’s stock, valued at $2,601,399.84. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Michael Descheneaux sold 7,000 shares of SVB Financial Group stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $184.38, for a total value of $1,290,660.00. Following the sale, the chief financial officer now directly owns 18,419 shares in the company, valued at $3,396,095.22. The disclosure for this sale can be found here. 0.73% of the stock is currently owned by insiders.

Several hedge funds have recently made changes to their positions in SIVB. BlackRock Inc. raised its stake in shares of SVB Financial Group by 16,192.8% in the first quarter. BlackRock Inc. now owns 4,539,004 shares of the bank’s stock worth $844,664,000 after buying an additional 4,511,145 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of SVB Financial Group by 7.0% in the first quarter. Vanguard Group Inc. now owns 4,205,626 shares of the bank’s stock worth $782,624,000 after buying an additional 275,274 shares during the last quarter. Credit Agricole S A raised its stake in shares of SVB Financial Group by 924.5% in the first quarter. Credit Agricole S A now owns 1,128,284 shares of the bank’s stock worth $44,547,000 after buying an additional 1,018,151 shares during the last quarter. Janus Capital Management LLC raised its stake in shares of SVB Financial Group by 15.5% in the first quarter. Janus Capital Management LLC now owns 977,034 shares of the bank’s stock worth $181,816,000 after buying an additional 131,207 shares during the last quarter. Finally, FMR LLC raised its stake in shares of SVB Financial Group by 12.6% in the first quarter. FMR LLC now owns 862,554 shares of the bank’s stock worth $160,513,000 after buying an additional 96,425 shares during the last quarter. 95.38% of the stock is currently owned by institutional investors and hedge funds.

About SVB Financial Group

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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