SVB Financial Group (NASDAQ:SIVB) was the target of a significant decline in short interest in the month of November. As of November 29th, there was short interest totalling 954,500 shares, a decline of 19.1% from the November 14th total of 1,180,000 shares. Based on an average trading volume of 470,800 shares, the days-to-cover ratio is currently 2.0 days. Currently, 1.9% of the shares of the stock are sold short.
Several equities analysts have issued reports on the company. Royal Bank of Canada set a $265.00 price objective on SVB Financial Group and gave the company a “buy” rating in a research report on Friday, October 25th. BidaskClub raised shares of SVB Financial Group from a “hold” rating to a “buy” rating in a research note on Friday, December 13th. Stephens reiterated a “buy” rating and set a $270.00 target price on shares of SVB Financial Group in a research report on Monday, December 9th. Barclays dropped their price objective on shares of SVB Financial Group from $300.00 to $275.00 and set an “overweight” rating for the company in a research report on Thursday, September 12th. Finally, Maxim Group lowered their target price on SVB Financial Group from $300.00 to $275.00 and set a “buy” rating for the company in a research note on Friday, October 25th. Eight research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $261.67.
SIVB traded up $0.82 during mid-day trading on Friday, hitting $250.94. The stock had a trading volume of 830,080 shares, compared to its average volume of 368,642. SVB Financial Group has a 1-year low of $177.70 and a 1-year high of $259.95. The stock’s fifty day simple moving average is $236.53 and its 200-day simple moving average is $216.67. The firm has a market capitalization of $12.90 billion, a price-to-earnings ratio of 13.77, a price-to-earnings-growth ratio of 1.48 and a beta of 2.19. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.66 and a quick ratio of 0.66.
SVB Financial Group (NASDAQ:SIVB) last released its quarterly earnings data on Thursday, October 24th. The bank reported $5.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.99 by $0.16. The business had revenue of $814.65 million for the quarter, compared to analysts’ expectations of $805.27 million. SVB Financial Group had a return on equity of 20.38% and a net margin of 33.95%. SVB Financial Group’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.10 EPS. As a group, research analysts expect that SVB Financial Group will post 21.18 earnings per share for the current fiscal year.
In other news, CEO Gregory W. Becker sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $245.61, for a total transaction of $1,228,050.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael Descheneaux sold 1,000 shares of SVB Financial Group stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $250.00, for a total transaction of $250,000.00. Following the completion of the transaction, the insider now owns 20,438 shares of the company’s stock, valued at approximately $5,109,500. The disclosure for this sale can be found here. In the last three months, insiders sold 15,328 shares of company stock worth $3,652,381. 0.73% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC raised its position in SVB Financial Group by 40.2% in the 2nd quarter. SG Americas Securities LLC now owns 4,892 shares of the bank’s stock valued at $1,099,000 after buying an additional 1,403 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. grew its holdings in shares of SVB Financial Group by 24.6% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 5,057 shares of the bank’s stock valued at $1,136,000 after acquiring an additional 1,000 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of SVB Financial Group by 38.4% in the 2nd quarter. Janney Montgomery Scott LLC now owns 10,874 shares of the bank’s stock valued at $2,442,000 after acquiring an additional 3,017 shares in the last quarter. First Trust Advisors LP increased its position in shares of SVB Financial Group by 36.6% in the second quarter. First Trust Advisors LP now owns 25,808 shares of the bank’s stock valued at $5,796,000 after acquiring an additional 6,917 shares during the last quarter. Finally, Highstreet Asset Management Inc. acquired a new stake in shares of SVB Financial Group in the second quarter valued at about $350,000. 91.52% of the stock is currently owned by hedge funds and other institutional investors.
SVB Financial Group Company Profile
SVB Financial Group, a diversified financial services company, provides various banking and financial products and services. The company operates through three segments: Global Commercial Bank, SVB Private Bank, and SVB Capital. 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 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 and credit cards, account analysis, and disbursement, as well as online and mobile banking services.
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