StockNews.com Downgrades SVB Financial Group (NASDAQ:SIVB) to Sell

SVB Financial Group (NASDAQ:SIVBGet Rating) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.

Several other analysts have also recently issued reports on SIVB. Janney Montgomery Scott cut SVB Financial Group from a “buy” rating to a “neutral” rating and increased their price objective for the company from $280.00 to $500.00 in a research note on Friday, October 21st. Barclays reduced their price objective on SVB Financial Group from $510.00 to $411.00 and set an “equal weight” rating on the stock in a research note on Friday, October 21st. Oppenheimer cut SVB Financial Group from an “outperform” rating to a “market perform” rating and set a $404.85 price objective on the stock. in a research note on Monday, September 12th. The Goldman Sachs Group reduced their price objective on SVB Financial Group from $450.00 to $360.00 and set a “buy” rating on the stock in a research note on Friday, September 30th. Finally, Keefe, Bruyette & Woods cut SVB Financial Group from an “outperform” rating to a “market perform” rating and cut their price target for the company from $600.00 to $450.00 in a research note on Wednesday, August 3rd. One research analyst has rated the stock with a sell rating, ten have given a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $419.79.

SVB Financial Group Trading Up 2.3 %

NASDAQ:SIVB traded up $4.93 during trading hours on Thursday, reaching $222.20. 700,949 shares of the stock were exchanged, compared to its average volume of 1,229,322. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.28. The business has a 50-day moving average of $283.94 and a two-hundred day moving average of $375.79. SVB Financial Group has a twelve month low of $204.37 and a twelve month high of $752.68. The company has a market capitalization of $13.13 billion, a price-to-earnings ratio of 8.24, a PEG ratio of 1.03 and a beta of 1.52.

SVB Financial Group (NASDAQ:SIVBGet Rating) last announced its quarterly earnings data on Thursday, October 20th. The bank reported $7.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.95 by $0.26. The business had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.64 billion. SVB Financial Group had a return on equity of 13.72% and a net margin of 25.57%. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period last year, the firm earned $7.26 earnings per share. On average, equities analysts predict that SVB Financial Group will post 26.43 EPS for the current year.

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 the stock. Teachers Retirement System of The State of Kentucky purchased a new position in shares of SVB Financial Group during the third quarter worth about $1,847,000. National Pension Service lifted its position in shares of SVB Financial Group by 1.8% during the 3rd quarter. National Pension Service now owns 80,911 shares of the bank’s stock valued at $27,342,000 after acquiring an additional 1,451 shares during the period. Grandeur Peak Global Advisors LLC lifted its position in shares of SVB Financial Group by 1.3% during the 3rd quarter. Grandeur Peak Global Advisors LLC now owns 66,423 shares of the bank’s stock valued at $22,304,000 after acquiring an additional 866 shares during the period. Glenmede Trust Co. NA lifted its position in shares of SVB Financial Group by 1.5% during the 3rd quarter. Glenmede Trust Co. NA now owns 36,902 shares of the bank’s stock valued at $12,390,000 after acquiring an additional 528 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund lifted its position in shares of SVB Financial Group by 5.3% during the 3rd quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 2,117 shares of the bank’s stock valued at $711,000 after acquiring an additional 106 shares during the period. Hedge funds and other institutional investors own 91.48% 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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