Morgan Stanley Lowers SVB Financial Group (NASDAQ:SIVB) Price Target to $265.00

SVB Financial Group (NASDAQ:SIVB) had its price objective dropped by research analysts at Morgan Stanley from $280.00 to $265.00 in a report issued on Thursday, BenzingaRatingsTable reports. The firm currently has an “overweight” rating on the bank’s stock. Morgan Stanley’s target price indicates a potential upside of 39.49% from the company’s previous close.

SIVB has been the topic of several other reports. Wedbush increased their price target on shares of SVB Financial Group from $225.00 to $235.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Barclays dropped their price target on shares of SVB Financial Group from $300.00 to $275.00 and set an “overweight” rating on the stock in a research note on Thursday, September 12th. Royal Bank of Canada set a $280.00 price target on shares of SVB Financial Group and gave the company a “buy” rating in a research note on Friday, July 26th. SunTrust Banks set a $250.00 price target on shares of SVB Financial Group and gave the company a “buy” rating in a research note on Wednesday, September 18th. Finally, Raymond James lowered shares of SVB Financial Group from a “strong-buy” rating to a “market perform” rating in a research note on Monday, July 8th. Nine investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. SVB Financial Group presently has a consensus rating of “Buy” and an average price target of $268.27.

SVB Financial Group stock traded down $5.82 during mid-day trading on Thursday, hitting $189.98. The company had a trading volume of 11,778 shares, compared to its average volume of 526,232. The stock has a market cap of $10.77 billion, a price-to-earnings ratio of 10.43, a PEG ratio of 1.23 and a beta of 2.16. SVB Financial Group has a 1 year low of $177.70 and a 1 year high of $330.50. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.12. The business has a fifty day moving average of $202.27 and a 200 day moving average of $220.76.

SVB Financial Group (NASDAQ:SIVB) last announced its quarterly earnings results on Thursday, July 25th. The bank reported $6.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $4.98 by $1.10. The company had revenue of $863.15 million for the quarter, compared to analyst estimates of $787.38 million. SVB Financial Group had a net margin of 35.83% and a return on equity of 21.44%. During the same period in the prior year, the firm posted $4.42 earnings per share. Equities analysts anticipate that SVB Financial Group will post 21.23 earnings per share for the current year.

In related news, COO Philip C. Cox sold 350 shares of SVB Financial Group stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $230.80, for a total value of $80,780.00. Following the transaction, the chief operating officer now directly owns 7,909 shares in the company, valued at approximately $1,825,397.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Michael Descheneaux sold 3,000 shares of SVB Financial Group stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $201.19, for a total transaction of $603,570.00. Following the completion of the transaction, the insider now owns 21,438 shares in the company, valued at $4,313,111.22. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,198 shares of company stock worth $1,335,030. Insiders own 0.73% of the company’s stock.

A number of large investors have recently bought and sold shares of SIVB. CIBC World Markets Inc. grew its position in SVB Financial Group by 3.4% in the 1st quarter. CIBC World Markets Inc. now owns 4,158 shares of the bank’s stock valued at $925,000 after buying an additional 138 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in SVB Financial Group by 45.5% in the first quarter. Wells Fargo & Company MN now owns 198,868 shares of the bank’s stock valued at $44,220,000 after acquiring an additional 62,142 shares during the period. DekaBank Deutsche Girozentrale lifted its holdings in SVB Financial Group by 25.7% in the first quarter. DekaBank Deutsche Girozentrale now owns 6,944 shares of the bank’s stock valued at $2,315,000 after acquiring an additional 1,419 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in SVB Financial Group by 5.7% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,155 shares of the bank’s stock valued at $257,000 after acquiring an additional 62 shares during the period. Finally, Rockefeller Capital Management L.P. lifted its holdings in SVB Financial Group by 2,780.3% in the first quarter. Rockefeller Capital Management L.P. now owns 4,378 shares of the bank’s stock valued at $974,000 after acquiring an additional 4,226 shares during the period. Hedge funds and other institutional investors own 91.21% of the company’s stock.

SVB Financial Group Company Profile

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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