SVB Financial Group (NASDAQ:SIVB) – Stock analysts at Jefferies Financial Group reduced their Q2 2019 earnings per share estimates for shares of SVB Financial Group in a research report issued on Tuesday, January 8th. Jefferies Financial Group analyst C. Haire now forecasts that the bank will earn $4.88 per share for the quarter, down from their prior estimate of $5.00. Jefferies Financial Group currently has a “Buy” rating and a $278.00 target price on the stock. Jefferies Financial Group also issued estimates for SVB Financial Group’s Q3 2019 earnings at $5.05 EPS, Q4 2019 earnings at $5.10 EPS and FY2019 earnings at $19.80 EPS.
SIVB has been the topic of a number of other research reports. BidaskClub lowered shares of SVB Financial Group from a “sell” rating to a “strong sell” rating in a research note on Friday, October 26th. Morgan Stanley decreased their price target on shares of SVB Financial Group from $320.00 to $310.00 and set an “overweight” rating on the stock in a research note on Tuesday. Zacks Investment Research reiterated a “hold” rating on shares of SVB Financial Group in a research note on Thursday, November 15th. Royal Bank of Canada set a $320.00 price target on shares of SVB Financial Group and gave the company a “buy” rating in a research note on Thursday, December 6th. Finally, Wells Fargo & Co decreased their price target on shares of SVB Financial Group from $345.00 to $300.00 and set an “outperform” rating on the stock in a research note on Thursday, December 6th. Two analysts have rated the stock with a sell rating, three have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $323.24.
SVB Financial Group (NASDAQ:SIVB) last issued its earnings results on Thursday, October 25th. The bank reported $5.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $4.44 by $0.66. The company had revenue of $703.29 million for the quarter, compared to analysts’ expectations of $664.51 million. SVB Financial Group had a net margin of 32.44% and a return on equity of 18.39%.
SVB Financial Group announced that its Board of Directors has authorized a share buyback program on Tuesday, November 13th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the bank to reacquire up to 3.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.
In other SVB Financial Group news, insider Michael Descheneaux sold 1,750 shares of the stock in a transaction that occurred on Thursday, November 1st. The shares were sold at an average price of $239.73, for a total transaction of $419,527.50. Following the transaction, the insider now owns 18,289 shares in the company, valued at approximately $4,384,421.97. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Philip C. Cox sold 620 shares of the stock in a transaction that occurred on Wednesday, November 28th. The stock was sold at an average price of $238.96, for a total transaction of $148,155.20. Following the transaction, the insider now owns 6,511 shares in the company, valued at approximately $1,555,868.56. The disclosure for this sale can be found here. Corporate insiders own 0.74% of the company’s stock.
Several large investors have recently made changes to their positions in SIVB. Paradigm Asset Management Co. LLC bought a new stake in shares of SVB Financial Group during the 3rd quarter worth approximately $93,000. Price Capital Management Inc. bought a new stake in shares of SVB Financial Group during the 3rd quarter worth approximately $124,000. Signaturefd LLC lifted its holdings in shares of SVB Financial Group by 341.2% during the 2nd quarter. Signaturefd LLC now owns 503 shares of the bank’s stock worth $145,000 after acquiring an additional 389 shares during the period. Stratos Wealth Partners LTD. bought a new stake in shares of SVB Financial Group during the 3rd quarter worth approximately $146,000. Finally, Twin Tree Management LP bought a new stake in shares of SVB Financial Group during the 3rd quarter worth approximately $167,000. Hedge funds and other institutional investors own 88.14% 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. Its 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 card account analysis, and disbursement, as well as online and mobile banking services.
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