After Piper Jaffray and Barclays gave Svb Financial Group (NASDAQ: SIVB) a Buy rating last month, the company received another Buy, this time from Maxim Group. Analyst Michael Diana reiterated a Buy rating on Svb Financial Group today and set a price target of $365. The company’s shares closed on Friday at $242.09.
Diana observed:
“SIVB produced its sixth consecutive blowout quarter, with core EPS beating guidance by 8%. Loans were up 3.1% linked-quarter, total client funds (deposits plus off-balance-sheet funds) were up 3.5%, NIM was up 7bps, net interest income was up 4.3%, client investment fees were up 15.2%, and the core efficiency ratio (excluding investment and warrant gains) was 45% (down from 48%). Management modestly increased 2019 guidance and provided guidance for the contribution from newly-acquired Leerink Partners.”
According to TipRanks.com, Diana is a 4-star analyst with an average return of 4.6% and a 57.5% success rate. Diana covers the Financial sector, focusing on stocks such as First Savings Financial Group, Westamerica Bancorporation, and Pennantpark Floating Rate.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Svb Financial Group with a $308.09 average price target, a 27.3% upside from current levels. In a report issued on January 25, Piper Jaffray also maintained a Buy rating on the stock with a $291 price target.
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Svb Financial Group’s market cap is currently $12.89B and has a P/E ratio of 15.78. The company has a Price to Book ratio of 2.62.
Based on the recent corporate insider activity of 87 insiders, corporate insider sentiment is negative on the stock.
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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.
