Stock of The Day: Could SVB Financial Group See a Reversal After Breaking Its 52-Week High?

Stock of The Day: Could SVB Financial Group See a Reversal After Breaking Its 52 Week High?

The stock of SVB Financial Group (NASDAQ:SIVB) hit a new 52-week high and has $175.45 target or 8.00% above today’s $162.45 share price. The 6 months bullish chart indicates low risk for the $8.70 billion company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $175.45 price target is reached, the company will be worth $696.00 million 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. The stock increased 2.80% or $4.42 during the last trading session, hitting $162.45. About 597,529 shares traded hands. SVB Financial Group (NASDAQ:SIVB) has risen 54.12% since April 28, 2016 and is uptrending. It has outperformed by 48.19% the S&P500.

Analysts await SVB Financial Group (NASDAQ:SIVB) to report earnings on January, 19. They expect $1.75 EPS, up 4.17% or $0.07 from last year’s $1.68 per share. SIVB’s profit will be $93.72M for 23.21 P/E if the $1.75 EPS becomes a reality. After $2.12 actual EPS reported by SVB Financial Group for the previous quarter, Wall Street now forecasts -17.45% negative EPS growth.

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. On Friday, May 27 the stock rating was maintained by Wood with “Outperform”. The rating was downgraded by Barclays Capital on Tuesday, November 1 to “Equal Weight”. The stock of SVB Financial Group (NASDAQ:SIVB) has “Overweight” rating given on Thursday, March 24 by Barclays Capital. Barclays Capital maintained the stock with “Overweight” rating in Friday, October 9 report. The stock of SVB Financial Group (NASDAQ:SIVB) has “Mkt Outperform” rating given on Friday, September 16 by JMP Securities. Zacks upgraded SVB Financial Group (NASDAQ:SIVB) rating on Monday, August 31. Zacks has “Hold” rating and $140 price target. Piper Jaffray initiated SVB Financial Group (NASDAQ:SIVB) on Tuesday, October 13 with “Neutral” rating. RBC Capital Markets maintained the stock with “Outperform” rating in Friday, January 22 report. DA Davidson downgraded the stock to “Neutral” rating in Friday, July 22 report. Piper Jaffray upgraded the shares of SIVB in a report on Friday, January 22 to “Overweight” rating.

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 2016 Q2. Its up 0.08, from 1.07 in 2016Q1. The ratio improved, 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.
Balyasny Asset Mngmt Lc last reported 12,777 shares in the company. Retirement Systems Of Alabama last reported 229,525 shares in the company. Liberty Mutual Asset Mgmt Inc accumulated 0.08% or 22,406 shares. The Arkansas-based Stephens Ar has invested 0.01% in SVB Financial Group (NASDAQ:SIVB). Geode Llc accumulated 343,279 shares or 0.02% of the stock. Barclays Public Ltd Com accumulated 25,061 shares or 0% of the stock. Moreover, Whittier Trust has 0.07% invested in SVB Financial Group (NASDAQ:SIVB) for 16,808 shares. Moreover, Paradigm Asset Com Ltd Limited Liability Company has 0% invested in SVB Financial Group (NASDAQ:SIVB) for 5,900 shares. Moreover, Advisory Services Net Limited Com has 0.01% invested in SVB Financial Group (NASDAQ:SIVB) for 544 shares. Prudential reported 55,759 shares or 0.01% of all its holdings. Utah Retirement System holds 9,500 shares or 0.02% of its portfolio. Eaton Vance Mngmt has invested 0% of its portfolio in SVB Financial Group (NASDAQ:SIVB). Ladenburg Thalmann Svcs accumulated 630 shares or 0% of the stock. Moreover, Basswood Cap Mgmt Ltd Liability Corporation has 2.44% invested in SVB Financial Group (NASDAQ:SIVB) for 442,682 shares. Artisan Ptnrs L P accumulated 946,852 shares or 0.19% of the stock.

Insider Transactions: Since July 26, 2016, the stock had 0 insider purchases, and 8 sales for $2.76 million net activity. The insider China John sold 3,023 shares worth $392,990. The insider Wallace Bruce sold $396,504. The insider BENHAMOU ERIC sold 2,000 shares worth $212,758. On Tuesday, July 26 Descheneaux Michael sold $864,670 worth of the stock or 8,378 shares. The insider Cox Philip C sold $49,504. Husain Kamran F had sold 3,289 shares worth $458,651.

More notable recent SVB Financial Group (NASDAQ:SIVB) news were published by: Fool.com which released: “SVB Financial Group Deposits a Positive Third Quarter” on October 24, 2016, also Nasdaq.com with their article: “SVB Financial Group Reaches Analyst Target Price” published on November 11, 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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