SVB Financial Group (NASDAQ:SIVB) Price Target Lowered to $470.00 at Wolfe Research

SVB Financial Group (NASDAQ:SIVBGet Rating) had its price objective lowered by equities researchers at Wolfe Research from $723.00 to $470.00 in a note issued to investors on Thursday, The Fly reports. Wolfe Research’s price objective indicates a potential upside of 3.82% from the company’s previous close.

A number of other research analysts have also recently weighed in on SIVB. Raymond James lifted their target price on SVB Financial Group from $685.00 to $700.00 and gave the company an “outperform” rating in a report on Friday, April 22nd. StockNews.com began coverage on SVB Financial Group in a research report on Thursday, March 31st. They issued a “sell” rating on the stock. lowered SVB Financial Group from a “buy” rating to a “hold” rating in a research report on Thursday, April 14th. Morgan Stanley decreased their price target on SVB Financial Group from $935.00 to $769.00 and set an “overweight” rating for the company in a research note on Monday, March 28th. Finally, Piper Sandler decreased their target price on SVB Financial Group from $725.00 to $700.00 and set an “overweight” rating for the company in a research note on Friday, April 22nd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $732.70.

Shares of SVB Financial Group stock opened at $452.72 on Thursday. SVB Financial Group has a twelve month low of $419.60 and a twelve month high of $763.22. The stock has a market capitalization of $26.64 billion, a P/E ratio of 15.36, a PEG ratio of 1.56 and a beta of 1.80. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 0.20. The business’s fifty day moving average price is $510.17 and its 200 day moving average price is $603.83.

SVB Financial Group (NASDAQ:SIVBGet Rating) last issued its earnings results on Thursday, April 21st. The bank reported $7.92 earnings per share for the quarter, beating analysts’ consensus estimates of $5.37 by $2.55. SVB Financial Group had a return on equity of 15.59% and a net margin of 28.80%. The firm had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.45 billion. During the same quarter last year, the firm earned $10.03 earnings per share. The firm’s revenue for the quarter was up 13.9% compared to the same quarter last year. As a group, sell-side analysts predict that SVB Financial Group will post 34.86 EPS for the current year.

In other SVB Financial Group news, Director Garen K. Staglin sold 500 shares of the business’s stock in a transaction that occurred on Tuesday, May 3rd. The shares were sold at an average price of $504.03, for a total value of $252,015.00. Following the completion of the transaction, the director now owns 14,180 shares of the company’s stock, valued at approximately $7,147,145.40. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CMO Michelle Draper sold 269 shares of the business’s stock in a transaction that occurred on Tuesday, March 1st. The stock was 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. Insiders sold 8,360 shares of company stock valued at $4,857,395 in the last quarter. Corporate insiders own 0.62% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in SIVB. EverSource Wealth Advisors LLC bought a new stake in shares of SVB Financial Group in the 4th quarter worth approximately $25,000. Carroll Investors Inc bought a new stake in shares of SVB Financial Group in the 4th quarter worth approximately $27,000. Charter Oak Capital Management LLC bought a new stake in shares of SVB Financial Group in the 4th quarter worth approximately $28,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of SVB Financial Group in the 4th quarter worth approximately $32,000. Finally, McDonald Partners LLC bought a new stake in shares of SVB Financial Group in the 4th quarter worth approximately $33,000. 88.80% of the stock is owned by institutional investors and hedge funds.

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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