SVB Financial Group (NASDAQ:SIVB) Lowered to Market Perform at Raymond James

Raymond James lowered shares of SVB Financial Group (NASDAQ:SIVB) from a strong-buy rating to a market perform rating in a research note issued to investors on Monday, BenzingaRatingsTable reports.

Several other brokerages have also weighed in on SIVB. Sanford C. Bernstein lowered shares of SVB Financial Group from an outperform rating to a market perform rating in a research report on Tuesday, May 28th. Bank of America set a $275.00 target price on shares of SVB Financial Group and gave the stock a buy rating in a research report on Friday, April 26th. Keefe, Bruyette & Woods upped their target price on shares of American International Group from $58.00 to $62.00 and gave the stock an outperform rating in a research report on Sunday. ValuEngine lowered shares of Zumiez from a hold rating to a sell rating in a research report on Tuesday, July 2nd. Finally, Piper Jaffray Companies lowered shares of Mallinckrodt from an overweight rating to a neutral rating and lowered their price target for the company from $39.00 to $9.00 in a research report on Thursday, May 30th. Nine investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $288.28.

SIVB traded up $4.43 on Monday, hitting $217.07. 409,674 shares of the company were exchanged, compared to its average volume of 501,760. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.13. The business has a fifty day moving average price of $217.18. SVB Financial Group has a fifty-two week low of $177.70 and a fifty-two week high of $333.74. The firm has a market capitalization of $11.43 billion, a price-to-earnings ratio of 11.91, a P/E/G ratio of 1.45 and a beta of 2.08.

SVB Financial Group (NASDAQ:SIVB) last issued its earnings results on Thursday, April 25th. The bank reported $5.44 earnings per share for the quarter, topping the consensus estimate of $4.73 by $0.71. SVB Financial Group had a net margin of 36.09% and a return on equity of 20.83%. The company had revenue of $793.26 million for the quarter, compared to analyst estimates of $744.49 million. During the same period in the prior year, the business posted $3.63 earnings per share. On average, sell-side analysts predict that SVB Financial Group will post 20.45 earnings per share for the current fiscal year.

In other news, insider Marc C. Cadieux sold 2,304 shares of the stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $240.77, for a total value of $554,734.08. Following the sale, the insider now directly owns 17,941 shares in the company, valued at $4,319,654.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Philip C. Cox sold 197 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $227.45, for a total transaction of $44,807.65. Following the completion of the sale, the chief operating officer now owns 8,185 shares in the company, valued at $1,861,678.25. The disclosure for this sale can be found here. Insiders sold 9,380 shares of company stock worth $2,258,430 over the last quarter. Company insiders own 0.73% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in SIVB. LPL Financial LLC grew its position in shares of SVB Financial Group by 34.5% in the 4th quarter. LPL Financial LLC now owns 4,730 shares of the bank’s stock worth $898,000 after buying an additional 1,212 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of SVB Financial Group by 71.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 8,230 shares of the bank’s stock valued at $1,565,000 after purchasing an additional 3,433 shares during the period. Commonwealth Equity Services LLC lifted its stake in shares of SVB Financial Group by 26.5% in the 4th quarter. Commonwealth Equity Services LLC now owns 7,861 shares of the bank’s stock valued at $1,492,000 after purchasing an additional 1,647 shares during the period. Blueshift Asset Management LLC purchased a new position in shares of SVB Financial Group in the 4th quarter valued at approximately $341,000. Finally, Northern Trust Corp lifted its stake in shares of SVB Financial Group by 2.8% in the 4th quarter. Northern Trust Corp now owns 542,678 shares of the bank’s stock valued at $103,065,000 after purchasing an additional 14,982 shares during the period. Institutional investors and hedge funds own 90.94% of the company’s stock.

About SVB Financial Group

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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Analyst Recommendations for SVB Financial Group (NASDAQ:SIVB)

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