Several other brokerages have also recently issued reports on SIVB. Stephens reaffirmed a “buy” rating and issued a $270.00 price objective on shares of SVB Financial Group in a research note on Monday, December 9th. Barclays reduced their target price on shares of SVB Financial Group from $300.00 to $275.00 and set an “overweight” rating for the company in a report on Thursday, September 12th. Wells Fargo & Co dropped their price target on SVB Financial Group from $240.00 to $225.00 and set a “market perform” rating on the stock in a report on Friday, October 25th. Maxim Group cut their target price on SVB Financial Group from $300.00 to $275.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Finally, Morgan Stanley increased their price target on SVB Financial Group from $270.00 to $282.00 and gave the company an “overweight” rating in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $264.00.
Shares of NASDAQ:SIVB traded up $2.38 during trading on Friday, reaching $252.78. The company had a trading volume of 496,225 shares, compared to its average volume of 443,766. The firm has a market capitalization of $12.92 billion, a PE ratio of 13.87, a price-to-earnings-growth ratio of 1.60 and a beta of 2.21. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.66 and a current ratio of 0.66. SVB Financial Group has a twelve month low of $183.04 and a twelve month high of $259.95. The firm’s fifty day moving average is $242.61 and its 200 day moving average is $219.95.
In related news, CMO Michelle Draper sold 213 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $252.65, for a total transaction of $53,814.45. Following the completion of the transaction, the chief marketing officer now directly owns 6,020 shares in the company, valued at approximately $1,520,953. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Gregory W. Becker sold 4,828 shares of SVB Financial Group stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $233.48, for a total transaction of $1,127,241.44. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,541 shares of company stock worth $3,957,276. Corporate insiders own 0.73% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SIVB. Patriot Financial Group Insurance Agency LLC raised its stake in SVB Financial Group by 3,733.3% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 115 shares of the bank’s stock worth $25,000 after acquiring an additional 112 shares in the last quarter. Griffin Asset Management Inc. bought a new stake in shares of SVB Financial Group during the second quarter worth $28,000. Pearl River Capital LLC acquired a new stake in shares of SVB Financial Group in the second quarter valued at $30,000. Bray Capital Advisors acquired a new stake in shares of SVB Financial Group in the third quarter valued at $31,000. Finally, Mechanics Bank Trust Department acquired a new stake in shares of SVB Financial Group in the third quarter valued at approximately $35,000. 91.52% of the stock is currently owned by institutional investors.
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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