News stories about SVB Financial Group (NASDAQ:SIVB) have trended positive on Tuesday, according to Accern Sentiment. The research firm ranks the sentiment of media coverage by analyzing more than twenty million blog and news sources. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. SVB Financial Group earned a coverage optimism score of 0.31 on Accern’s scale. Accern also assigned news coverage about the bank an impact score of 91 out of 100, meaning that recent media coverage is extremely likely to have an impact on the company’s share price in the next several days.
These are some of the media stories that may have impacted Accern Sentiment Analysis’s scoring:
- Placing the Spotlight on SVB Financial Group (SIVB): Technical Stock Update – FLBC News (flbcnews.com)
- Wedbush Reaffirms Neutral Rating for SVB Financial Group (NASDAQ:SIVB) (hoyentv.com)
- Has $20.53 Million Stake in SVB Financial Group (SIVB) (healthcaremenu.net)
- SVB Financial Group (NASDAQ:SIVB) Institutional Investors Sentiment (ismboard.com)
- SVB Financial Group (SIVB) Earns “Buy” Rating from Keefe, Bruyette & Woods (americanbankingnews.com)
Several equities analysts recently commented on SIVB shares. Barclays PLC restated an “equal weight” rating and issued a $191.00 price target (up from $188.00) on shares of SVB Financial Group in a research note on Wednesday, July 12th. Piper Jaffray Companies restated a “buy” rating and issued a $212.00 price target on shares of SVB Financial Group in a research note on Friday. Zacks Investment Research upgraded shares of SVB Financial Group from a “hold” rating to a “buy” rating and set a $197.00 price target on the stock in a research note on Tuesday, July 4th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $195.00 price target on shares of SVB Financial Group in a research note on Friday. Finally, Morgan Stanley upped their price target on shares of SVB Financial Group from $208.00 to $210.00 and gave the company an “overweight” rating in a research note on Tuesday, June 6th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. SVB Financial Group has an average rating of “Buy” and an average target price of $200.27.
Shares of SVB Financial Group (NASDAQ SIVB) opened at 180.57 on Tuesday. The firm has a market capitalization of $9.48 billion, a P/E ratio of 23.46 and a beta of 1.60. SVB Financial Group has a 52 week low of $96.86 and a 52 week high of $198.83. The firm’s 50-day moving average is $176.72 and its 200-day moving average is $179.51.
SVB Financial Group (NASDAQ:SIVB) last announced its quarterly earnings results on Thursday, April 27th. The bank reported $1.91 earnings per share for the quarter, beating the Thomson Reuters’ 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 period in the prior year, the business posted $1.52 earnings per share. The company’s revenue was up 16.4% on a year-over-year basis. Equities analysts anticipate that SVB Financial Group will post $8.66 EPS for the current year.
In other news, insider Bruce Wallace sold 8,790 shares of the business’s 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 completion of the transaction, the insider now owns 14,248 shares of the company’s stock, valued at $2,601,399.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Michael Descheneaux sold 7,000 shares of the business’s 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 transaction, the chief financial officer now directly owns 18,419 shares of the company’s stock, valued at approximately $3,396,095.22. The disclosure for this sale can be found here. Corporate insiders own 0.73% of the company’s stock.
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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.
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