Svb Financial Group (SIVB) Gets a Buy Rating from Jefferies

By Jason Carr

Jefferies analyst Casey Haire maintained a Buy rating on Svb Financial Group (SIVBResearch Report) today and set a price target of $278. The company’s shares closed on Tuesday at $240.43.

According to TipRanks.com, Haire is a 5-star analyst with an average return of 14.0% and a 65.4% success rate. Haire covers the Financial sector, focusing on stocks such as Hancock Whitney Corporation, Texas Capital Bancshares, and First Midwest Bancorp.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Svb Financial Group with a $323.79 average price target, implying a 34.7% upside from current levels. In a report issued on November 28, Barclays also upgraded the stock to Buy with a $330 price target.

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Based on Svb Financial Group’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $275 million. In comparison, last year the company had a net profit of $149 million.

Based on the recent corporate insider activity of 92 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.