SVB Financial Group (SIVB) Downgraded by BidaskClub to “Buy”

BidaskClub lowered shares of SVB Financial Group (NASDAQ:SIVB) from a strong-buy rating to a buy rating in a report released on Wednesday morning.

Several other equities research analysts have also commented on SIVB. Morgan Stanley boosted their price objective on shares of SVB Financial Group from $275.00 to $280.00 and gave the stock an overweight rating in a research report on Wednesday, January 31st. Zacks Investment Research lowered shares of SVB Financial Group from a buy rating to a hold rating in a research report on Tuesday, February 13th. Keefe, Bruyette & Woods reiterated a buy rating and issued a $308.00 price objective on shares of SVB Financial Group in a research report on Tuesday, February 27th. Stephens reiterated a buy rating on shares of SVB Financial Group in a research report on Tuesday, March 20th. Finally, UBS started coverage on shares of SVB Financial Group in a research report on Thursday, March 22nd. They issued a buy rating and a $284.00 price objective on the stock. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $306.29.

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SVB Financial Group opened at $314.98 on Wednesday, Marketbeat.com reports. SVB Financial Group has a 52 week low of $159.44 and a 52 week high of $327.91. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.59 and a current ratio of 0.59. The stock has a market capitalization of $16.92 billion, a P/E ratio of 31.78, a price-to-earnings-growth ratio of 1.82 and a beta of 1.41.

SVB Financial Group (NASDAQ:SIVB) last released its quarterly earnings data on Thursday, April 26th. The bank reported $3.63 EPS for the quarter, topping the consensus estimate of $3.13 by $0.50. SVB Financial Group had a net margin of 26.89% and a return on equity of 14.53%. The business had revenue of $575.38 million for the quarter, compared to analyst estimates of $535.60 million. During the same period in the previous year, the firm earned $1.91 EPS. analysts forecast that SVB Financial Group will post 15.91 EPS for the current fiscal year.

In related news, insider Gregory W. Becker sold 3,028 shares of the business’s stock in a transaction dated Wednesday, April 4th. The shares were sold at an average price of $233.52, for a total value of $707,098.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael Descheneaux sold 2,750 shares of the business’s stock in a transaction dated Tuesday, May 8th. The shares were sold at an average price of $309.05, for a total transaction of $849,887.50. The disclosure for this sale can be found here. Insiders sold a total of 8,306 shares of company stock valued at $2,349,040 in the last three months. 0.74% of the stock is currently owned by corporate insiders.

Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. increased its stake in shares of SVB Financial Group by 3.0% during the 4th quarter. BlackRock Inc. now owns 5,104,914 shares of the bank’s stock valued at $1,193,377,000 after acquiring an additional 146,741 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of SVB Financial Group by 1.3% during the 1st quarter. JPMorgan Chase & Co. now owns 2,431,505 shares of the bank’s stock valued at $583,583,000 after acquiring an additional 30,143 shares during the last quarter. Royal Bank of Canada increased its stake in shares of SVB Financial Group by 3.0% during the 1st quarter. Royal Bank of Canada now owns 847,121 shares of the bank’s stock valued at $203,317,000 after acquiring an additional 24,780 shares during the last quarter. Neuberger Berman Group LLC increased its stake in shares of SVB Financial Group by 0.6% during the 1st quarter. Neuberger Berman Group LLC now owns 845,525 shares of the bank’s stock valued at $202,934,000 after acquiring an additional 5,374 shares during the last quarter. Finally, Northern Trust Corp increased its stake in shares of SVB Financial Group by 17.2% during the 1st quarter. Northern Trust Corp now owns 527,573 shares of the bank’s stock valued at $126,623,000 after acquiring an additional 77,465 shares during the last quarter. 89.61% of the stock is owned by hedge funds and other institutional investors.

About SVB Financial Group

SVB Financial Group, a diversified financial services company, provides various banking and financial products and services. Its 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 card account analysis, and disbursement, as well as online and mobile banking services.