SVB Financial Group (NASDAQ:SIVB) shot up 5.4% during mid-day trading on Friday after JPMorgan Chase & Co. raised their price target on the stock from $440.00 to $550.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. SVB Financial Group traded as high as $497.85 and last traded at $480.15. 710,489 shares traded hands during mid-day trading, an increase of 24% from the average session volume of 571,763 shares. The stock had previously closed at $455.59.
Several other research firms also recently weighed in on SIVB. Raymond James raised their price target on SVB Financial Group from $445.00 to $510.00 and gave the stock an “outperform” rating in a research report on Friday. Royal Bank of Canada lifted their price objective on SVB Financial Group from $494.00 to $508.00 and gave the stock an “outperform” rating in a research report on Friday. Morgan Stanley upped their target price on shares of SVB Financial Group from $375.00 to $385.00 and gave the company an “equal weight” rating in a report on Wednesday, January 6th. Truist lifted their price target on shares of SVB Financial Group from $280.00 to $360.00 in a report on Monday, October 26th. Finally, Oppenheimer reissued a “market perform” rating on shares of SVB Financial Group in a research note on Monday, November 16th. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $373.00.
In related news, CMO Michelle Draper sold 213 shares of the company’s stock in a transaction on Tuesday, December 1st. The shares were sold at an average price of $355.12, for a total transaction of $75,640.56. Following the completion of the sale, the chief marketing officer now directly owns 4,012 shares of the company’s stock, valued at approximately $1,424,741.44. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Financial Group Svb sold 597,960 shares of the stock in a transaction on Friday, October 30th. The shares were sold at an average price of $25.52, for a total value of $15,259,939.20. The disclosure for this sale can be found here. Insiders have sold a total of 605,856 shares of company stock valued at $17,831,178 over the last three months. Corporate insiders own 0.78% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. Cubist Systematic Strategies LLC purchased a new position in SVB Financial Group in the 2nd quarter worth approximately $679,000. Private Advisor Group LLC purchased a new position in shares of SVB Financial Group in the second quarter valued at $44,000. Principal Financial Group Inc. grew its holdings in SVB Financial Group by 3.6% during the 2nd quarter. Principal Financial Group Inc. now owns 78,383 shares of the bank’s stock valued at $16,894,000 after purchasing an additional 2,719 shares in the last quarter. Royal Harbor Partners LLC acquired a new stake in SVB Financial Group during the 3rd quarter valued at $809,000. Finally, Contravisory Investment Management Inc. purchased a new stake in SVB Financial Group during the 3rd quarter worth $26,000. Institutional investors and hedge funds own 88.38% of the company’s stock.
The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.11. The business’s 50-day simple moving average is $391.92 and its two-hundred day simple moving average is $297.49. The company has a market capitalization of $24.87 billion, a PE ratio of 23.64, a PEG ratio of 3.23 and a beta of 2.14.
SVB Financial Group (NASDAQ:SIVB) last announced its earnings results on Wednesday, January 20th. The bank reported $7.40 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.75 by $3.65. SVB Financial Group had a return on equity of 15.40% and a net margin of 28.60%. On average, analysts forecast that SVB Financial Group will post 19.21 EPS for the current year.
SVB Financial Group Company Profile (NASDAQ:SIVB)
SVB Financial Group, a diversified financial services company, provides various banking and financial products and services. The company operates through four segments: Global Commercial Bank, SVB Private Bank, SVB Capital, and SVB Leerink. 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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