SVB Financial Group (NASDAQ:SIVB) Cut to “Hold” at Erste Group

Erste Group lowered shares of SVB Financial Group (NASDAQ:SIVBGet Rating) from a buy rating to a hold rating in a research note published on Thursday morning, The Fly reports.

SIVB has been the topic of a number of other reports. Stephens reduced their price target on shares of SVB Financial Group from $790.00 to $700.00 in a research note on Monday, January 24th. The Goldman Sachs Group reduced their price target on shares of SVB Financial Group from $882.00 to $767.00 and set a buy rating on the stock in a research note on Monday, April 4th. Barclays raised their price target on shares of SVB Financial Group from $755.00 to $789.00 and gave the company an equal weight rating in a research note on Monday, January 3rd. Wells Fargo & Company reduced their price target on shares of SVB Financial Group from $900.00 to $810.00 and set an overweight rating on the stock in a research note on Monday, March 21st. Finally, Truist Financial reduced their price target on shares of SVB Financial Group from $850.00 to $800.00 in a research note on Monday, January 24th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Hold and an average target price of $771.76.

Shares of SVB Financial Group stock opened at $507.06 on Thursday. The company has a market capitalization of $29.82 billion, a price-to-earnings ratio of 16.06, a PEG ratio of 2.13 and a beta of 1.82. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.20. SVB Financial Group has a 12-month low of $486.74 and a 12-month high of $763.22. The firm’s 50-day moving average price is $570.12 and its two-hundred day moving average price is $647.14.

SVB Financial Group (NASDAQ:SIVBGet Rating) last announced its quarterly earnings data on Thursday, January 20th. The bank reported $6.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.29 by $0.27. SVB Financial Group had a net margin of 30.19% and a return on equity of 17.07%. The firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same period in the prior year, the company posted $7.40 earnings per share. The business’s revenue for the quarter was up 23.7% on a year-over-year basis. On average, sell-side analysts expect that SVB Financial Group will post 30.62 earnings per share for the current year.

In other news, insider Philip C. Cox sold 4,798 shares of SVB Financial Group stock in a transaction on Tuesday, February 1st. The shares were sold at an average price of $580.50, for a total value of $2,785,239.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CMO Michelle Draper sold 269 shares of SVB Financial Group stock in a transaction on Tuesday, March 1st. The shares were sold at an average price of $603.58, for a total transaction of $162,363.02. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,607 shares of company stock valued at $9,811,559. Company insiders own 0.62% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. increased its stake in SVB Financial Group by 1.7% during the 4th quarter. BlackRock Inc. now owns 5,147,972 shares of the bank’s stock valued at $3,491,564,000 after purchasing an additional 88,284 shares in the last quarter. State Street Corp increased its stake in SVB Financial Group by 2.7% during the 4th quarter. State Street Corp now owns 2,912,555 shares of the bank’s stock valued at $1,975,411,000 after purchasing an additional 76,769 shares in the last quarter. JPMorgan Chase & Co. increased its stake in SVB Financial Group by 3.8% during the 4th quarter. JPMorgan Chase & Co. now owns 2,283,331 shares of the bank’s stock valued at $1,548,646,000 after purchasing an additional 84,422 shares in the last quarter. Royal Bank of Canada boosted its holdings in SVB Financial Group by 8.6% during the 3rd quarter. Royal Bank of Canada now owns 1,715,975 shares of the bank’s stock worth $1,110,030,000 after acquiring an additional 135,943 shares during the last quarter. Finally, Alecta Pensionsforsakring Omsesidigt boosted its holdings in SVB Financial Group by 3.9% during the 4th quarter. Alecta Pensionsforsakring Omsesidigt now owns 1,346,500 shares of the bank’s stock worth $914,475,000 after acquiring an additional 50,000 shares during the last quarter. Institutional investors and hedge funds own 88.96% 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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