Gilder Gagnon Howe & Co. LLC Has $4.71 Million Stake in SVB Financial Group (SIVB)
Gilder Gagnon Howe & Co. LLC boosted its stake in SVB Financial Group (NASDAQ:SIVB) by 28.6% during the second quarter, Holdings Channel reports. The firm owned 26,774 shares of the bank’s stock after buying an additional 5,958 shares during the period. Gilder Gagnon Howe & Co. LLC’s holdings in SVB Financial Group were worth $4,707,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in SVB Financial Group by 16,192.8% in the first quarter. BlackRock Inc. now owns 4,539,004 shares of the bank’s stock valued at $844,664,000 after buying an additional 4,511,145 shares during the period. Vanguard Group Inc. raised its stake in SVB Financial Group by 7.0% in the first quarter. Vanguard Group Inc. now owns 4,205,626 shares of the bank’s stock valued at $782,624,000 after buying an additional 275,274 shares during the period. Harbour Capital Advisors LLC raised its stake in SVB Financial Group by 17,141.0% in the second quarter. Harbour Capital Advisors LLC now owns 1,389,972 shares of the bank’s stock valued at $7,907,000 after buying an additional 1,381,910 shares during the period. Credit Agricole S A raised its stake in SVB Financial Group by 924.5% in the first quarter. Credit Agricole S A now owns 1,128,284 shares of the bank’s stock valued at $44,547,000 after buying an additional 1,018,151 shares during the period. Finally, Janus Capital Management LLC raised its stake in SVB Financial Group by 15.5% in the first quarter. Janus Capital Management LLC now owns 977,034 shares of the bank’s stock valued at $181,816,000 after buying an additional 131,207 shares during the period. Hedge funds and other institutional investors own 95.12% of the company’s stock.
SVB Financial Group (SIVB) opened at 179.55 on Thursday. The stock has a market cap of $9.46 billion, a P/E ratio of 21.82 and a beta of 1.59. The firm’s 50-day moving average is $179.34 and its 200-day moving average is $181.16. SVB Financial Group has a 52-week low of $101.28 and a 52-week high of $198.83.
SVB Financial Group (NASDAQ:SIVB) last posted its earnings results on Thursday, July 27th. The bank reported $2.32 EPS for the quarter, beating the Zacks’ consensus estimate of $2.05 by $0.27. SVB Financial Group had a net margin of 24.36% and a return on equity of 11.27%. The company had revenue of $471.70 million for the quarter, compared to analysts’ expectations of $451.96 million. During the same quarter in the prior year, the company posted $1.78 earnings per share. SVB Financial Group’s revenue for the quarter was up 10.2% compared to the same quarter last year. Equities research analysts predict that SVB Financial Group will post $8.98 earnings per share for the current year.
A number of equities research analysts recently weighed in on SIVB shares. Piper Jaffray Companies reiterated an “overweight” rating and set a $214.00 price objective (up previously from $202.00) on shares of SVB Financial Group in a report on Friday, April 14th. BidaskClub lowered shares of SVB Financial Group from a “buy” rating to a “hold” rating in a report on Sunday, July 30th. Wedbush reiterated a “neutral” rating and set a $192.00 price objective on shares of SVB Financial Group in a report on Tuesday, June 27th. Barclays PLC reiterated a “hold” rating and set a $188.00 price objective on shares of SVB Financial Group in a report on Monday, May 1st. Finally, Zacks Investment Research lowered shares of SVB Financial Group from a “buy” rating to a “hold” rating in a report on Friday, July 7th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $202.75.
In other news, insider Philip C. Cox sold 3,024 shares of the stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $182.80, for a total transaction of $552,787.20. Following the sale, the insider now owns 2,872 shares of the company’s stock, valued at $525,001.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Michael Descheneaux sold 7,000 shares of the stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $184.38, for a total transaction of $1,290,660.00. Following the sale, the chief financial officer now directly owns 18,419 shares in the company, valued at approximately $3,396,095.22. The disclosure for this sale can be found here. Insiders sold 22,314 shares of company stock worth $4,085,570 in the last ninety days. 0.73% of the stock is currently owned by corporate insiders.
SVB Financial Group Company Profile
SVB Financial Group is a financial services company, as well as a bank holding and a financial holding company. The Company’s segments include 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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