SVB Financial Group (NASDAQ:SIVB) Shares Down 5.9%

Shares of SVB Financial Group (NASDAQ:SIVB) were down 5.9% during mid-day trading on Thursday . The company traded as low as $216.78 and last traded at $218.24, approximately 584,075 shares traded hands during trading. An increase of 16% from the average daily volume of 504,854 shares. The stock had previously closed at $231.97.

A number of equities analysts have issued reports on SIVB shares. Stephens reiterated a “buy” rating on shares of SVB Financial Group in a report on Friday, July 26th. Barclays set a $300.00 target price on SVB Financial Group and gave the stock a “buy” rating in a report on Friday, July 26th. FIG Partners cut SVB Financial Group from an “outperform” rating to a “market perform” rating in a report on Friday, April 26th. BidaskClub upgraded SVB Financial Group from a “sell” rating to a “hold” rating in a report on Friday, June 28th. Finally, Morgan Stanley lowered their target price on SVB Financial Group from $310.00 to $280.00 and set an “overweight” rating for the company in a report on Monday, July 1st. Nine investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $273.56.

The company has a market cap of $12.21 billion, a P/E ratio of 11.80, a P/E/G ratio of 1.46 and a beta of 2.07. The firm’s fifty day moving average price is $220.63. The company has a current ratio of 0.71, a quick ratio of 0.70 and a debt-to-equity ratio of 0.12.

SVB Financial Group (NASDAQ:SIVB) last announced its quarterly earnings data on Thursday, July 25th. The bank reported $6.08 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.98 by $1.10. The company had revenue of $863.15 million during the quarter, compared to analysts’ expectations of $787.38 million. SVB Financial Group had a return on equity of 21.44% and a net margin of 35.83%. During the same quarter last year, the company earned $4.42 EPS. As a group, sell-side analysts anticipate that SVB Financial Group will post 21.26 EPS for the current fiscal year.

In related news, insider Michael Descheneaux sold 6,000 shares of SVB Financial Group stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $239.55, for a total transaction of $1,437,300.00. Following the completion of the transaction, the insider now owns 23,811 shares in the company, valued at $5,703,925.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Philip C. Cox sold 350 shares of SVB Financial Group stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $230.80, for a total value of $80,780.00. Following the transaction, the chief operating officer now owns 7,909 shares of the company’s stock, valued at approximately $1,825,397.20. The disclosure for this sale can be found here. Insiders have sold 8,547 shares of company stock valued at $2,022,768 in the last quarter. 0.73% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of the stock. Envestnet Asset Management Inc. grew its holdings in SVB Financial Group by 10.7% during the second quarter. Envestnet Asset Management Inc. now owns 10,011 shares of the bank’s stock worth $2,248,000 after purchasing an additional 965 shares during the period. Ownership Capital B.V. grew its holdings in SVB Financial Group by 2.0% during the second quarter. Ownership Capital B.V. now owns 302,318 shares of the bank’s stock worth $67,898,000 after purchasing an additional 6,004 shares during the period. Candriam Luxembourg S.C.A. grew its holdings in SVB Financial Group by 22.0% during the second quarter. Candriam Luxembourg S.C.A. now owns 4,500 shares of the bank’s stock worth $1,006,000 after purchasing an additional 810 shares during the period. Wright Investors Service Inc. bought a new position in SVB Financial Group during the second quarter worth about $576,000. Finally, Stephens Investment Management Group LLC grew its holdings in SVB Financial Group by 1.0% during the second quarter. Stephens Investment Management Group LLC now owns 172,079 shares of the bank’s stock worth $38,647,000 after purchasing an additional 1,782 shares during the period. Institutional investors and hedge funds own 90.81% of the company’s stock.

SVB Financial Group Company Profile (NASDAQ:SIVB)

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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