SVB Financial Group (NASDAQ:SIVB) – Investment analysts at Piper Jaffray Companies lowered their Q4 2019 earnings per share estimates for SVB Financial Group in a note issued to investors on Monday, October 14th. Piper Jaffray Companies analyst B. Rabatin now anticipates that the bank will post earnings per share of $4.45 for the quarter, down from their prior forecast of $4.50. Piper Jaffray Companies currently has a “Buy” rating and a $265.00 target price on the stock. Piper Jaffray Companies also issued estimates for SVB Financial Group’s Q1 2020 earnings at $4.63 EPS, Q2 2020 earnings at $4.67 EPS, Q3 2020 earnings at $4.89 EPS, Q4 2020 earnings at $5.00 EPS and FY2020 earnings at $19.20 EPS.
Several other equities analysts have also recently issued reports on the stock. ValuEngine raised shares of SVB Financial Group from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. JMP Securities lowered their price objective on shares of SVB Financial Group to $275.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 30th. Keefe, Bruyette & Woods cut shares of SVB Financial Group from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $300.00 to $255.00 in a research note on Sunday, July 7th. Barclays lowered their price objective 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. Finally, Wells Fargo & Co cut shares of SVB Financial Group from an “outperform” rating to a “market perform” rating and set a $224.59 target price for the company. in a report on Monday, July 1st. Nine equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $268.27.
SVB Financial Group (NASDAQ:SIVB) last announced its quarterly earnings data on Thursday, July 25th. The bank reported $6.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.98 by $1.10. The company had revenue of $863.15 million for the quarter, compared to analysts’ expectations 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 quarter in the previous year, the company posted $4.42 EPS.
Several hedge funds have recently bought and sold shares of SIVB. Invesco Ltd. boosted its holdings in shares of SVB Financial Group by 122.0% during the second quarter. Invesco Ltd. now owns 1,425,010 shares of the bank’s stock worth $320,042,000 after purchasing an additional 783,083 shares during the period. Amundi Pioneer Asset Management Inc. boosted its holdings in shares of SVB Financial Group by 357.8% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 419,131 shares of the bank’s stock worth $93,199,000 after purchasing an additional 327,587 shares during the period. Prudential PLC boosted its holdings in shares of SVB Financial Group by 22,290.6% during the second quarter. Prudential PLC now owns 276,300 shares of the bank’s stock worth $62,054,000 after purchasing an additional 275,066 shares during the period. Nuveen Asset Management LLC boosted its holdings in shares of SVB Financial Group by 1,247.3% during the second quarter. Nuveen Asset Management LLC now owns 250,496 shares of the bank’s stock worth $56,259,000 after purchasing an additional 231,904 shares during the period. Finally, Royal Bank of Canada boosted its holdings in shares of SVB Financial Group by 20.4% during the second quarter. Royal Bank of Canada now owns 1,038,148 shares of the bank’s stock worth $233,157,000 after purchasing an additional 175,687 shares during the period. Institutional investors and hedge funds own 91.24% of the company’s stock.
In related news, COO Philip C. Cox sold 350 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $230.80, for a total transaction of $80,780.00. Following the completion of the sale, the chief operating officer now directly owns 7,909 shares in the company, valued at $1,825,397.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Michael Descheneaux sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $201.19, for a total transaction of $603,570.00. Following the sale, the insider now owns 21,438 shares of the company’s stock, valued at $4,313,111.22. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,198 shares of company stock valued at $1,335,030. Corporate insiders own 0.73% 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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