Keefe, Bruyette & Woods Lowers SVB Financial Group (NASDAQ:SIVB) to Market Perform

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Keefe, Bruyette & Woods cut shares of SVB Financial Group (NASDAQ:SIVBGet Rating) from an outperform rating to a market perform rating in a research report released on Friday morning, MarketBeat Ratings reports. The brokerage currently has $450.00 target price on the bank’s stock, down from their prior target price of $600.00.

A number of other brokerages have also commented on SIVB. Piper Sandler decreased their price objective on shares of SVB Financial Group from $550.00 to $500.00 and set an overweight rating on the stock in a report on Friday. Morgan Stanley lowered their price target on shares of SVB Financial Group from $769.00 to $523.00 and set an overweight rating for the company in a report on Tuesday, July 12th. downgraded SVB Financial Group from a buy rating to a hold rating in a report on Thursday, April 14th. StockNews.com started coverage on SVB Financial Group in a research report on Thursday, March 31st. They issued a sell rating on the stock. Finally, Jefferies Financial Group dropped their target price on SVB Financial Group from $534.00 to $498.00 in a research report on Monday, July 11th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, SVB Financial Group has an average rating of Moderate Buy and a consensus target price of $617.50.

SVB Financial Group Stock Down 17.2 %

Shares of SIVB opened at $361.36 on Friday. The company has a market capitalization of $21.27 billion, a P/E ratio of 13.91, a PEG ratio of 1.28 and a beta of 1.83. SVB Financial Group has a one year low of $355.37 and a one year high of $763.22. The business’s 50 day simple moving average is $429.83 and its 200-day simple moving average is $521.73. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.46 and a quick ratio of 0.46.

SVB Financial Group (NASDAQ:SIVBGet Rating) last posted its quarterly earnings data on Thursday, July 21st. The bank reported $5.60 EPS for the quarter, missing analysts’ consensus estimates of $7.76 by ($2.16). SVB Financial Group had a return on equity of 13.39% and a net margin of 25.58%. During the same period last year, the business posted $9.09 earnings per share. As a group, sell-side analysts predict that SVB Financial Group will post 35.37 EPS for the current fiscal year.

Insider Buying and Selling at SVB Financial Group

In other news, CMO Michelle Draper sold 50 shares of SVB Financial Group stock in a transaction dated Thursday, May 5th. The stock was sold at an average price of $524.79, for a total transaction of $26,239.50. Following the transaction, the chief marketing officer now owns 3,184 shares in the company, valued at approximately $1,670,931.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Garen K. Staglin sold 500 shares of the company’s stock in a transaction that occurred on Tuesday, June 7th. The shares were sold at an average price of $484.41, for a total value of $242,205.00. Following the completion of the transaction, the director now owns 13,680 shares in the company, valued at $6,626,728.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CMO Michelle Draper sold 50 shares of the firm’s stock in a transaction on Thursday, May 5th. The stock was sold at an average price of $524.79, for a total transaction of $26,239.50. Following the sale, the chief marketing officer now owns 3,184 shares in the company, valued at $1,670,931.36. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,840 shares of company stock valued at $919,852. Company insiders own 0.62% of the company’s stock.

Hedge Funds Weigh In On SVB Financial Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Grimes & Company Inc. lifted its holdings in shares of SVB Financial Group by 1.8% in the second quarter. Grimes & Company Inc. now owns 22,199 shares of the bank’s stock valued at $8,768,000 after purchasing an additional 393 shares in the last quarter. Hartford Investment Management Co. lifted its stake in SVB Financial Group by 1.7% in the 2nd quarter. Hartford Investment Management Co. now owns 5,622 shares of the bank’s stock valued at $2,221,000 after acquiring an additional 95 shares in the last quarter. Truist Financial Corp boosted its position in SVB Financial Group by 1.8% during the 2nd quarter. Truist Financial Corp now owns 22,533 shares of the bank’s stock worth $8,901,000 after acquiring an additional 397 shares during the last quarter. Sumitomo Life Insurance Co. raised its holdings in shares of SVB Financial Group by 1.3% in the second quarter. Sumitomo Life Insurance Co. now owns 3,821 shares of the bank’s stock valued at $1,509,000 after purchasing an additional 50 shares during the last quarter. Finally, Alpha Cubed Investments LLC raised its holdings in shares of SVB Financial Group by 5.0% in the second quarter. Alpha Cubed Investments LLC now owns 1,050 shares of the bank’s stock valued at $415,000 after purchasing an additional 50 shares during the last quarter. 88.80% of the stock is owned by institutional investors and hedge funds.

SVB Financial Group Company Profile

(Get Rating)

SVB Financial Group, a diversified financial services company, offers various banking and financial products and services. It operates through four segments: Global Commercial Bank, SVB Private Bank, SVB Capital, and SVB Securities. The Global Commercial Bank segment provides commercial banking products and services, including credit, treasury management, foreign exchange, trade finance, and other financial products and services.

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