SVB Financial Group (NASDAQ:SIVB) rose 5.2% during trading on Monday . The stock traded as high as $212.93 and last traded at $211.73, approximately 676,400 shares changed hands during mid-day trading. An increase of 34% from the average daily volume of 505,268 shares. The stock had previously closed at $201.28.
Several equities analysts have issued reports on the stock. Keefe, Bruyette & Woods cut shares of SVB Financial Group from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $300.00 to $255.00 in a research note on Sunday, July 7th. Morgan Stanley dropped their price target on shares of SVB Financial Group from $310.00 to $280.00 and set an “overweight” rating on the stock in a report on Monday, July 1st. JMP Securities reduced their price target on shares of SVB Financial Group to $275.00 and set an “outperform” rating for the company in a research note on Tuesday, July 30th. BidaskClub raised shares of SVB Financial Group from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, Raymond James downgraded shares of SVB Financial Group from a “strong-buy” rating to a “market perform” rating in a research report on Monday, July 8th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $273.56.
The stock has a market cap of $11.13 billion, a PE ratio of 12.18, a price-to-earnings-growth ratio of 1.33 and a beta of 2.14. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.71 and a current ratio of 0.71. The company’s 50-day moving average price is $203.50 and its 200 day moving average price is $224.01.
In other SVB Financial Group news, COO Philip C. Cox sold 197 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $227.45, for a total value of $44,807.65. Following the transaction, the chief operating officer now directly owns 8,185 shares in the company, valued at $1,861,678.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Philip C. Cox sold 350 shares of SVB Financial Group stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $230.80, for a total transaction of $80,780.00. Following the transaction, the chief operating officer now owns 7,909 shares in the company, valued at approximately $1,825,397.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,547 shares of company stock valued at $1,189,038. 0.73% of the stock is owned by corporate insiders.
Several large investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its stake in shares of SVB Financial Group by 1.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 321,703 shares of the bank’s stock worth $61,101,000 after purchasing an additional 5,656 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of SVB Financial Group by 5.0% in the fourth quarter. Geode Capital Management LLC now owns 713,667 shares of the bank’s stock worth $135,307,000 after acquiring an additional 33,689 shares during the period. Janney Montgomery Scott LLC grew its position in shares of SVB Financial Group by 419.0% during the first quarter. Janney Montgomery Scott LLC now owns 7,857 shares of the bank’s stock worth $1,747,000 after purchasing an additional 6,343 shares in the last quarter. Alps Advisors Inc. grew its position in shares of SVB Financial Group by 15.5% during the first quarter. Alps Advisors Inc. now owns 1,672 shares of the bank’s stock worth $372,000 after purchasing an additional 225 shares in the last quarter. Finally, Parallel Advisors LLC grew its position in shares of SVB Financial Group by 27.3% during the first quarter. Parallel Advisors LLC now owns 312 shares of the bank’s stock worth $69,000 after purchasing an additional 67 shares in the last quarter. Hedge funds and other institutional investors own 92.12% of the company’s stock.
About SVB Financial Group (NASDAQ:SIVB)
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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