Morgan Stanley Cuts SVB Financial Group (SIVB) Price Target to $310.00

SVB Financial Group (NASDAQ:SIVB) had its price objective lowered by Morgan Stanley from $320.00 to $310.00 in a research report report published on Tuesday. The brokerage currently has an overweight rating on the bank’s stock.

Several other brokerages have also issued reports on SIVB. Bank of America cut their target price on shares of SVB Financial Group from $400.00 to $350.00 and set a buy rating on the stock in a research note on Friday, October 26th. ValuEngine raised shares of SVB Financial Group from a strong sell rating to a sell rating in a research note on Wednesday, January 2nd. Barclays dropped their price objective on shares of SVB Financial Group from $357.00 to $330.00 and set an equal weight rating on the stock in a research note on Friday, October 26th. Royal Bank of Canada set a $330.00 price objective on shares of SVB Financial Group and gave the company a buy rating in a research note on Friday, October 26th. Finally, Raymond James dropped their price objective on shares of SVB Financial Group from $392.00 to $333.00 and set a strong-buy rating on the stock in a research note on Friday, October 26th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $323.24.

Shares of NASDAQ SIVB opened at $215.27 on Tuesday. The firm has a market cap of $11.22 billion, a P/E ratio of 21.72, a P/E/G ratio of 1.02 and a beta of 1.87. SVB Financial Group has a 12-month low of $177.70 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 issued its earnings results on Thursday, October 25th. The bank reported $5.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.44 by $0.66. The business had revenue of $703.29 million for the quarter, compared to analyst estimates of $664.51 million. SVB Financial Group had a net margin of 32.44% and a return on equity of 18.39%. Equities research analysts predict that SVB Financial Group will post 17.91 earnings per share for the current fiscal year.

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

In other news, insider Michael Descheneaux sold 1,750 shares of the stock in a transaction dated Thursday, November 1st. The shares were sold at an average price of $239.73, for a total value of $419,527.50. Following the completion of the sale, the insider now owns 18,289 shares in the company, valued at $4,384,421.97. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Philip C. Cox sold 620 shares of the stock in a transaction dated Wednesday, November 28th. The shares were sold at an average price of $238.96, for a total transaction of $148,155.20. Following the completion of the sale, the insider now owns 6,511 shares of the company’s stock, valued at approximately $1,555,868.56. The disclosure for this sale can be found here. Corporate insiders own 0.74% of the company’s stock.

Several hedge funds have recently made changes to their positions in SIVB. Paradigm Asset Management Co. LLC purchased a new stake in SVB Financial Group during the third quarter worth about $93,000. Price Capital Management Inc. purchased a new stake in SVB Financial Group during the third quarter worth about $124,000. Signaturefd LLC increased its holdings in SVB Financial Group by 341.2% during the second quarter. Signaturefd LLC now owns 503 shares of the bank’s stock worth $145,000 after buying an additional 389 shares during the last quarter. Stratos Wealth Partners LTD. purchased a new stake in SVB Financial Group during the third quarter worth about $146,000. Finally, Twin Tree Management LP purchased a new stake in SVB Financial Group during the third quarter worth about $167,000. Institutional investors own 88.14% 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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Analyst Recommendations for SVB Financial Group (NASDAQ:SIVB)

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