Brokerage firm DA Davidson Downgrades its rating on SVB Financial Group(NASDAQ:SIVB). The shares have been rated Neutral. Previously, the analysts had a Buy rating on the shares. The rating by DA Davidson was issued on Jul 22, 2016.
In a different note, On Jul 7, 2016, JP Morgan said it Maintains its rating on SVB Financial Group. In the research note, the firm Lowers the price-target to $126.00 per share. The shares have been rated ‘Overweight’ by the firm. On May 27, 2016, Keefe Bruyette & Woods said it Maintains its rating on SVB Financial Group. In the research note, the firm Lowers the price-target to $140.00 per share. The shares have been rated ‘Outperform’ by the firm.
SVB Financial Group (SIVB) shares turned negative on Thursdays trading session with the shares closing down -1.44 points or -1.40% at a volume of 2,99,128. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $103.41. The peak price level was also seen at $103.41 while the days lowest was $101.28. Finally the shares closed at $101.47. The 52-week high of the shares is $149.67 while the 52-week low is $77.871. According to the latest information available, the market cap of the company is $5,257 M.
SVB Financial Group(SIVB) last announced its earnings results on Jul 21, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $396.11M. Analysts had an estimated revenue of $386.36M. Earnings per share were $1.78. Analysts had estimated an EPS of $1.70.
Several Insider Transactions has been reported to the SEC. On Jun 3, 2016, Eric Benhamou (director) sold 1,365 shares at $110.00 per share price.Also, On May 4, 2016, Bruce Wallace (Chief Digital Officer) sold 3,400 shares at $105.18 per share price.On May 2, 2016, Philip C Cox (Head EMEA India & President,UK) sold 500 shares at $104.89 per share price, according to the Form-4 filing with the securities and exchange commission.
SVB Financial Group (SVB Financial) is a diversified financial services bank holding and financial holding company. The Company operates through three segments: Global Commercial Bank SVB Private Bank and SVB Capital. The Company through its subsidiaries and divisions offers a range of banking and financial products and services to clients across the United States as well as in key international entrepreneurial markets. The Company offers services in the technology life science and healthcare private equity and venture capital and premium wine industries. The Company offers commercial and private banking products and services through its principal subsidiary Silicon Valley Bank (the Bank) which is a California state-chartered bank. The Bank and its subsidiaries also offer asset management private wealth management brokerage and other investment services. SVB Private Bank provides personal financial solutions. SVB Capital focuses primarily on funds management.