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

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 report published on Wednesday morning. They currently have $450.00 price objective on the bank’s stock, down from their previous price objective of $600.00.

Several other research analysts have also commented on SIVB. Truist Financial cut their price objective on SVB Financial Group from $557.00 to $500.00 and set a buy rating for the company in a report on Monday, July 25th. The Goldman Sachs Group cut their price objective on SVB Financial Group from $674.00 to $554.50 and set a buy rating for the company in a report on Tuesday, May 31st. Janney Montgomery Scott upgraded SVB Financial Group from a neutral rating to a buy rating and set a $875.00 target price for the company in a research report on Friday, April 22nd. Wells Fargo & Company dropped their target price on SVB Financial Group from $650.00 to $550.00 in a research report on Friday, July 22nd. Finally, downgraded SVB Financial Group from a buy rating to a hold rating in a research report on Thursday, April 14th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $574.73.

SVB Financial Group Stock Down 0.7 %

SIVB stock opened at $413.21 on Wednesday. SVB Financial Group has a twelve month low of $355.37 and a twelve month high of $763.22. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $24.32 billion, a PE ratio of 15.90, a PEG ratio of 1.70 and a beta of 1.75. The stock has a 50-day simple moving average of $419.74 and a two-hundred day simple moving average of $502.14.

SVB Financial Group (NASDAQ:SIVBGet Rating) last issued its quarterly earnings data on Thursday, July 21st. The bank reported $5.60 EPS for the quarter, missing the consensus estimate of $7.76 by ($2.16). SVB Financial Group had a return on equity of 13.43% and a net margin of 25.58%. During the same period in the previous year, the business posted $9.09 EPS. On average, equities analysts predict that SVB Financial Group will post 30.59 EPS for the current fiscal year.

Insider Activity at SVB Financial Group

In related news, Director Garen K. Staglin sold 500 shares of the company’s stock in a transaction that occurred on Tuesday, June 7th. The stock was sold at an average price of $484.41, for a total transaction 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 sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.62% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On SVB Financial Group

A number of hedge funds and other institutional investors have recently made changes to their positions in SIVB. EverSource Wealth Advisors LLC purchased a new stake in SVB Financial Group in the fourth quarter worth $25,000. Urban Wealth Management LLC purchased a new stake in SVB Financial Group in the second quarter worth $26,000. First Horizon Advisors Inc. grew its stake in SVB Financial Group by 200.0% in the second quarter. First Horizon Advisors Inc. now owns 72 shares of the bank’s stock worth $27,000 after purchasing an additional 48 shares during the period. Charter Oak Capital Management LLC purchased a new stake in SVB Financial Group in the fourth quarter worth $28,000. Finally, TCI Wealth Advisors Inc. grew its stake in SVB Financial Group by 52.0% in the second quarter. TCI Wealth Advisors Inc. now owns 76 shares of the bank’s stock worth $30,000 after purchasing an additional 26 shares during the period. Institutional investors own 88.80% of the company’s stock.

About SVB Financial Group

(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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Analyst Recommendations for SVB Financial Group (NASDAQ:SIVB)

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