In a report released today, Michael Diana from Maxim Group reiterated a Buy rating on Svb Financial Group (SIVB), with a price target of $365. The company’s shares closed yesterday at $242.66.
Diana said:
“SIVB announced the acquisition of Boston-based, full- service investment banking firm focused on healthcare and life sciences. Leering provides debt, equity, and convertibles capital markets services, as well as M&A advisory services. At present, SIVB provides its clients with none of these services, while both provide wealth management services. Together, they should have a full-service commercial and investment banking product offering that should help attract more clients and get a greater share of clients’ total banking needs, in our view.”
According to TipRanks.com, Diana is a 4-star analyst with an average return of 3.8% and a 54.6% success rate. Diana covers the Financial sector, focusing on stocks such as Manhattan Bridge Capital Inc, Arlington Asset Investment, and Westamerica Bancorporation.
Currently, the analyst consensus on Svb Financial Group is a Strong Buy with an average price target of $339, implying a 39.7% upside from current levels. In a report issued on October 30, JMP Securities also maintained a Buy rating on the stock with a $345 price target.
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Svb Financial Group’s market cap is currently $12.92B and has a P/E ratio of 15.82. The company has a Price to Book ratio of 2.62.
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SVB Financial Group is a financial, and bank holding company, which engages in the provision of banking, and financial products and services. It operates through the following segment: Global Commercial Bank, SVB Private Bank, and SVB Capital.
