BlackRock Advisors LLC Increases Stake in SVB Financial Group (SIVB)
BlackRock Advisors LLC boosted its position in SVB Financial Group (NASDAQ:SIVB) by 2.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 111,511 shares of the company’s stock after buying an additional 3,112 shares during the period. BlackRock Advisors LLC owned 0.21% of SVB Financial Group worth $10,611,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the company. TimesSquare Capital Management LLC purchased a new position in SVB Financial Group during the first quarter worth about $48,872,000. Champlain Investment Partners LLC purchased a new position in SVB Financial Group during the first quarter worth about $18,874,000. Emerald Acquisition Ltd. purchased a new position in SVB Financial Group during the second quarter worth about $17,308,000. NN Investment Partners Holdings N.V. purchased a new position in SVB Financial Group during the first quarter worth about $15,366,000. Finally, JPMorgan Chase & Co. increased its position in SVB Financial Group by 6.7% in the first quarter. JPMorgan Chase & Co. now owns 2,364,948 shares of the company’s stock worth $241,343,000 after buying an additional 149,438 shares during the period. Hedge funds and other institutional investors own 92.23% of the company’s stock.
SVB Financial Group (NASDAQ:SIVB) opened at 118.89 on Friday. SVB Financial Group has a 12 month low of $77.87 and a 12 month high of $141.75. The stock has a 50 day moving average price of $109.04 and a 200 day moving average price of $103.53. The stock has a market capitalization of $6.19 billion, a P/E ratio of 18.15 and a beta of 1.63.
SVB Financial Group (NASDAQ:SIVB) last issued its quarterly earnings results on Thursday, July 21st. The company reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.70 by $0.08. SVB Financial Group had a return on equity of 9.90% and a net margin of 22.00%. Equities analysts predict that SVB Financial Group will post $6.81 EPS for the current fiscal year.
A number of equities analysts have recently issued reports on SIVB shares. JMP Securities started coverage on SVB Financial Group in a research note on Friday, September 16th. They issued an “outperform” rating and a $130.00 price target on the stock. Royal Bank Of Canada restated a “buy” rating on shares of SVB Financial Group in a research note on Thursday, June 23rd. Wells Fargo & Co. restated a “buy” rating on shares of SVB Financial Group in a research note on Friday, July 22nd. DA Davidson downgraded SVB Financial Group from a “buy” rating to a “neutral” rating in a research note on Friday, July 22nd. Finally, Barclays PLC upgraded SVB Financial Group from an “overweight” rating to a “top pick” rating and raised their price target for the stock from $139.00 to $150.00 in a research note on Wednesday, September 28th. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company’s stock. SVB Financial Group presently has a consensus rating of “Buy” and a consensus price target of $134.31.
In other news, CFO Michael Descheneaux sold 8,378 shares of the company’s stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $103.21, for a total transaction of $864,693.38. Following the transaction, the chief financial officer now directly owns 15,079 shares of the company’s stock, valued at $1,556,303.59. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Eric Benhamou sold 2,000 shares of the company’s stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $106.38, for a total value of $212,760.00. Following the transaction, the director now directly owns 11,897 shares in the company, valued at $1,265,602.86. The disclosure for this sale can be found here. Insiders own 0.78% of the company’s stock.
About SVB Financial Group
SVB Financial Group (SVB Financial) is a diversified financial services, bank holding and financial holding company. The Company operates through three segments: Global Commercial Bank, SVB Private Bank and SVB Capital. The Global Commercial Bank segment consists of the operations of its Commercial Bank, and of SVB Wine, SVB Analytics and its Debt Fund Investments.
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