SVB Financial Group (SIVB) PT Lowered to $300.00 at Wells Fargo & Co

SVB Financial Group (NASDAQ:SIVB) had its price target dropped by investment analysts at Wells Fargo & Co from $345.00 to $300.00 in a report issued on Thursday, Marketbeat Ratings reports. The firm presently has an “outperform” rating on the bank’s stock. Wells Fargo & Co’s target price would indicate a potential upside of 45.77% from the stock’s current price.

A number of other brokerages have also recently commented on SIVB. Jefferies Financial Group lifted their target price on shares of SVB Financial Group to $378.00 and gave the company a “buy” rating in a report on Monday, August 27th. Zacks Investment Research cut shares of SVB Financial Group from a “buy” rating to a “hold” rating in a report on Thursday, October 4th. ValuEngine cut shares of SVB Financial Group from a “buy” rating to a “hold” rating in a report on Tuesday, October 2nd. Barclays lifted their target price on shares of SVB Financial Group from $340.00 to $357.00 and gave the company an “equal weight” rating in a report on Wednesday, October 3rd. Finally, BidaskClub cut shares of SVB Financial Group from a “hold” rating to a “sell” rating in a report on Tuesday, October 16th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $333.18.

Shares of SVB Financial Group stock opened at $205.80 on Thursday. The firm has a market capitalization of $11.67 billion, a PE ratio of 20.77, a price-to-earnings-growth ratio of 1.22 and a beta of 1.69. SVB Financial Group has a 12 month low of $203.49 and a 12 month high of $333.74. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.63 and a current ratio of 0.63.

SVB Financial Group (NASDAQ:SIVB) last announced its earnings results on Thursday, October 25th. The bank reported $5.10 EPS for the quarter, beating analysts’ consensus estimates of $4.44 by $0.66. The business had revenue of $703.29 million for the quarter, compared to analysts’ expectations of $664.51 million. SVB Financial Group had a net margin of 32.44% and a return on equity of 18.39%. As a group, equities research analysts expect that SVB Financial Group will post 17.94 EPS for the current fiscal year.

SVB Financial Group declared that its board has authorized a share repurchase plan on Tuesday, November 13th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the bank to repurchase up to 3.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

In other SVB Financial Group news, insider Michael Descheneaux sold 1,750 shares of the business’s stock in a transaction on Thursday, November 1st. The shares were sold at an average price of $239.73, for a total transaction of $419,527.50. Following the sale, the insider now directly owns 18,289 shares in the company, valued at approximately $4,384,421.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Philip C. Cox sold 620 shares of the business’s stock in a transaction on Wednesday, November 28th. The stock was sold at an average price of $238.96, for a total transaction of $148,155.20. Following the sale, the insider now owns 6,511 shares in the company, valued at $1,555,868.56. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,870 shares of company stock worth $729,718. 0.74% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. First Hawaiian Bank purchased a new stake in shares of SVB Financial Group during the 3rd quarter worth $2,039,000. British Airways Pensions Investment Management Ltd boosted its position in shares of SVB Financial Group by 0.8% during the 2nd quarter. British Airways Pensions Investment Management Ltd now owns 33,122 shares of the bank’s stock worth $9,564,000 after purchasing an additional 271 shares in the last quarter. Oregon Public Employees Retirement Fund purchased a new stake in shares of SVB Financial Group during the 2nd quarter worth $2,800,000. KAMES CAPITAL plc boosted its position in shares of SVB Financial Group by 1.0% during the 3rd quarter. KAMES CAPITAL plc now owns 234,147 shares of the bank’s stock worth $72,768,000 after purchasing an additional 2,259 shares in the last quarter. Finally, Sumitomo Life Insurance Co. purchased a new stake in shares of SVB Financial Group during the 3rd quarter worth $1,481,000. Institutional investors own 88.41% 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. 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.

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