SVB Financial Group (NASDAQ:SIVB) Sets New 52-Week Low at $355.00

SVB Financial Group (NASDAQ:SIVBGet Rating) hit a new 52-week low on Friday . The company traded as low as $355.00 and last traded at $357.17, with a volume of 2184 shares trading hands. The stock had previously closed at $379.03.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SIVB. Jefferies Financial Group lowered their price objective on SVB Financial Group from $534.00 to $498.00 in a research note on Monday, July 11th. Keefe, Bruyette & Woods lowered SVB Financial Group from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $600.00 to $450.00 in a research note on Wednesday, August 3rd. Wells Fargo & Company decreased their target price on SVB Financial Group from $650.00 to $550.00 in a research report on Friday, July 22nd. Oppenheimer lowered SVB Financial Group from an “outperform” rating to a “market perform” rating and set a $404.85 target price for the company. in a research report on Monday, September 12th. Finally, JPMorgan Chase & Co. decreased their target price on SVB Financial Group from $875.00 to $650.00 and set an “overweight” rating for the company in a research report on Friday, July 1st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $547.57.

SVB Financial Group Stock Down 4.4 %

The firm has a 50 day simple moving average of $412.66 and a two-hundred day simple moving average of $461.05. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.46 and a current ratio of 0.46. The stock has a market cap of $21.41 billion, a P/E ratio of 13.95, a P/E/G ratio of 1.61 and a beta of 1.72.

SVB Financial Group (NASDAQ:SIVBGet Rating) last announced its earnings results on Thursday, July 21st. The bank reported $5.60 earnings per share for the quarter, missing the consensus estimate of $7.76 by ($2.16). SVB Financial Group had a net margin of 25.58% and a return on equity of 13.43%. During the same period in the prior year, the company posted $9.09 EPS. Equities research analysts predict that SVB Financial Group will post 29.43 earnings per share for the current year.

Institutional Trading of SVB Financial Group

Several hedge funds have recently added to or reduced their stakes in the business. Brown Advisory Inc. raised its stake in SVB Financial Group by 3.6% during the 2nd quarter. Brown Advisory Inc. now owns 2,053 shares of the bank’s stock valued at $811,000 after acquiring an additional 72 shares in the last quarter. Verition Fund Management LLC increased its position in shares of SVB Financial Group by 51.9% during the 2nd quarter. Verition Fund Management LLC now owns 1,068 shares of the bank’s stock valued at $422,000 after purchasing an additional 365 shares during the period. Prelude Capital Management LLC increased its position in shares of SVB Financial Group by 46.5% during the 2nd quarter. Prelude Capital Management LLC now owns 1,871 shares of the bank’s stock valued at $739,000 after purchasing an additional 594 shares during the period. Captrust Financial Advisors increased its position in shares of SVB Financial Group by 3.6% during the 2nd quarter. Captrust Financial Advisors now owns 5,142 shares of the bank’s stock valued at $2,031,000 after purchasing an additional 177 shares during the period. Finally, Legal & General Group Plc increased its position in shares of SVB Financial Group by 5.7% during the 2nd quarter. Legal & General Group Plc now owns 394,690 shares of the bank’s stock valued at $155,899,000 after purchasing an additional 21,205 shares during the period. Institutional investors own 91.48% of the company’s stock.

SVB Financial Group Company Profile

(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.

Further Reading

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