Stock of The Day: Could SVB Financial Group Change Direction After Achieving 52-Week High?

Stock of The Day: Could SVB Financial Group Change Direction After Achieving 52 Week High?

The stock of SVB Financial Group (NASDAQ:SIVB) hit a new 52-week high and has $160.98 target or 5.00% above today’s $153.31 share price. The 5 months bullish chart indicates low risk for the $8.04B company. The 1-year high was reported on Nov, 22 by Barchart.com. If the $160.98 price target is reached, the company will be worth $402.00M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 247,117 shares traded hands. SVB Financial Group (NASDAQ:SIVB) has risen 34.07% since April 20, 2016 and is uptrending. It has outperformed by 29.52% the S&P500.

SVB Financial Group (NASDAQ:SIVB) Ratings Coverage

Out of 8 analysts covering SVB Financial Group (NASDAQ:SIVB), 6 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 75% are positive. SVB Financial Group has been the topic of 17 analyst reports since July 29, 2015 according to StockzIntelligence Inc. The company was maintained on Thursday, March 24 by Barclays Capital. Barclays Capital downgraded SVB Financial Group (NASDAQ:SIVB) rating on Tuesday, November 1. Barclays Capital has “Equal Weight” rating and $130 price target. The stock has “Buy” rating given by DA Davidson on Friday, August 28. The rating was initiated by Piper Jaffray on Tuesday, October 13 with “Neutral”. The firm earned “Overweight” rating on Friday, January 22 by Piper Jaffray. Zacks upgraded the stock to “Hold” rating in Monday, August 31 report. The company was upgraded on Wednesday, November 11 by Morgan Stanley. The rating was maintained by RBC Capital Markets with “Outperform” on Thursday, November 10. The company was maintained on Friday, May 27 by Wood. The firm earned “Neutral” rating on Friday, July 22 by DA Davidson.

According to Zacks Investment Research, “SVB Financial Group is an international financial services holding company serving the technology, life science, private equity and premium wine industries primarily through the following subsidiaries: Silicon Valley Bank, SVB Capital, SVB Global Financial Services, SVB Alliant, SVB Securities, SVB Asset Management, SVB India Advisors, SVB Europe Advisors.”

Insitutional Activity: The institutional sentiment increased to 1.15 in Q2 2016. Its up 0.08, from 1.07 in 2016Q1. The ratio is positive, as 45 funds sold all SVB Financial Group shares owned while 105 reduced positions. 38 funds bought stakes while 123 increased positions. They now own 47.12 million shares or 1.59% less from 47.89 million shares in 2016Q1.
Capital Ww has 0.02% invested in the company for 652,500 shares. Synovus Corporation holds 15,878 shares or 0.03% of its portfolio. Northern Corporation holds 0.01% of its portfolio in SVB Financial Group (NASDAQ:SIVB) for 396,421 shares. Moreover, Diamond Hill Cap Mgmt has 0.14% invested in SVB Financial Group (NASDAQ:SIVB) for 230,400 shares. Eagle Asset Management Inc accumulated 29,611 shares or 0.02% of the stock. Essex Management Ltd Limited Liability Company owns 27,384 shares or 0.43% of their US portfolio. King Luther Cap Mngmt Corporation owns 102,270 shares or 0.1% of their US portfolio. Teachers Advisors reported 151,367 shares or 0.03% of all its holdings. Ls Lc holds 3,149 shares or 0.02% of its portfolio. Aperio Group Lc last reported 0.01% of its portfolio in the stock. Weiss Multi, a Alabama-based fund reported 49,796 shares. Jacobus Wealth Management Inc holds 0.26% of its portfolio in SVB Financial Group (NASDAQ:SIVB) for 9,000 shares. 1St Glob has invested 0.03% of its portfolio in SVB Financial Group (NASDAQ:SIVB). Penn Capital Inc has invested 0.22% of its portfolio in SVB Financial Group (NASDAQ:SIVB). Moreover, California State Teachers Retirement Systems has 0.02% invested in SVB Financial Group (NASDAQ:SIVB) for 110,387 shares.

Insider Transactions: Since June 1, 2016, the stock had 0 insider purchases, and 9 insider sales for $2.91 million net activity. The insider Husain Kamran F sold 3,289 shares worth $458,651. Wallace Bruce sold $237,484 worth of stock or 2,300 shares. China John sold $149,276 worth of stock or 1,200 shares. Another trade for 8,378 shares valued at $864,670 was made by Descheneaux Michael on Tuesday, July 26. Cox Philip C sold $49,504 worth of SVB Financial Group (NASDAQ:SIVB) on Monday, November 7. $150,150 worth of SVB Financial Group (NASDAQ:SIVB) was sold by BENHAMOU ERIC.

More notable recent SVB Financial Group (NASDAQ:SIVB) news were published by: Nasdaq.com which released: “SVB Financial Group Reaches Analyst Target Price” on November 11, 2016, also Fool.com with their article: “SVB Financial Group Deposits a Positive Third Quarter” published on October 24, 2016, Fool.com published: “Why SVB Financial Group Shares Jumped 11% in August” on September 15, 2016. More interesting news about SVB Financial Group (NASDAQ:SIVB) were released by: Fool.com and their article: “Why SVB Financial Group Dropped 10% on Friday” published on June 27, 2016 as well as Seekingalpha.com‘s news article titled: “SVB Financial Group: A Secular Growth Bank” with publication date: October 12, 2016.

SIVB Company Profile

SVB Financial Group (SVB Financial), incorporated on March 22, 1999, is a diversified financial services, bank holding and financial holding company. The Firm operates through three divisions: Global Commercial Bank, SVB Private Bank and SVB Capital. The Company, through its subsidiaries and divisions, offers a range of banking and financial services and products to clients across the United States, as well as in international entrepreneurial markets. The Firm offers services in the technology, life science/healthcare, private equity/venture capital and wine industries.

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