SVB Financial Group (NASDAQ:SIVB) – Equities researchers at Piper Sandler raised their Q3 2021 EPS estimates for shares of SVB Financial Group in a note issued to investors on Thursday, July 1st. Piper Sandler analyst A. Liesch now forecasts that the bank will earn $5.98 per share for the quarter, up from their prior forecast of $5.77. Piper Sandler currently has a “Overweight” rating and a $650.00 target price on the stock. Piper Sandler also issued estimates for SVB Financial Group’s FY2021 earnings at $27.50 EPS, Q1 2022 earnings at $5.69 EPS, Q4 2022 earnings at $7.11 EPS and FY2022 earnings at $25.60 EPS. SVB Financial Group (NASDAQ:SIVB) last announced its quarterly earnings data on Thursday, April 22nd. The bank reported $10.03 EPS for the quarter, beating analysts’ consensus estimates of $6.94 by $3.09. SVB Financial Group had a return on equity of 20.13% and a net margin of 34.63%. The company had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the prior year, the firm earned $2.55 EPS. The company’s quarterly revenue was up 69.9% compared to the same quarter last year.
A number of other analysts have also issued reports on SIVB. Zacks Investment Research lowered SVB Financial Group from a “buy” rating to a “hold” rating and set a $600.00 target price for the company. in a report on Wednesday, June 23rd. Morgan Stanley increased their target price on SVB Financial Group from $510.00 to $570.00 and gave the company an “equal weight” rating in a report on Tuesday, May 4th. Royal Bank of Canada increased their target price on SVB Financial Group from $560.00 to $590.00 and gave the company an “outperform” rating in a report on Friday, April 23rd. Truist Securities increased their target price on SVB Financial Group from $605.00 to $625.00 in a report on Monday, April 26th. Finally, Maxim Group upped their price target on shares of SVB Financial Group from $600.00 to $700.00 in a research note on Monday, April 26th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $570.13.
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Shares of NASDAQ:SIVB opened at $564.88 on Friday. SVB Financial Group has a one year low of $199.70 and a one year high of $608.84. The firm’s fifty day moving average is $571.01. The firm has a market cap of $30.68 billion, a P/E ratio of 18.63, a PEG ratio of 2.42 and a beta of 2.06. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.59 and a quick ratio of 0.59.
In other SVB Financial Group news, insider Philip C. Cox sold 131 shares of the company’s stock in a transaction dated Wednesday, May 5th. The shares were sold at an average price of $584.70, for a total transaction of $76,595.70. Following the completion of the sale, the insider now directly owns 6,845 shares in the company, valued at $4,002,271.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Garen K. Staglin purchased 500 shares of the firm’s stock in a transaction on Tuesday, June 22nd. The shares were purchased at an average price of $553.94 per share, with a total value of $276,970.00. Following the completion of the acquisition, the director now directly owns 13,180 shares of the company’s stock, valued at $7,300,929.20. The disclosure for this purchase can be found here. Insiders have sold 9,337 shares of company stock valued at $5,404,025 over the last 90 days. Corporate insiders own 0.68% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. SOA Wealth Advisors LLC. acquired a new stake in shares of SVB Financial Group during the fourth quarter worth approximately $26,000. Veriti Management LLC acquired a new stake in shares of SVB Financial Group during the fourth quarter worth approximately $29,000. IronBridge Private Wealth LLC acquired a new stake in shares of SVB Financial Group during the fourth quarter worth approximately $29,000. Logan Capital Management Inc. acquired a new stake in shares of SVB Financial Group during the first quarter worth approximately $30,000. Finally, Abundance Wealth Counselors acquired a new stake in shares of SVB Financial Group during the first quarter worth approximately $31,000. Hedge funds and other institutional investors own 89.05% of the company’s stock.
About SVB Financial Group
SVB Financial Group, a diversified financial services company, provides various banking and financial products and services. The company operates through four segments: Global Commercial Bank, SVB Private Bank, SVB Capital, and SVB Leerink. The 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 solutions comprising term loans, equipment and asset-based loans, revolving lines of credit, and credit card programs, as well as mezzanine lending, acquisition finance, and corporate working capital facilities; and payment and cash management products and services, including wire transfer and automated clearing house payment, bill pay, debit and credit cards, account analysis, and disbursement, as well as online and mobile banking services.
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