SVB Financial Group (SIVB) Shares Bought by Rhumbline Advisers
Rhumbline Advisers boosted its position in shares of SVB Financial Group (NASDAQ:SIVB) by 0.3% during the second quarter, Holdings Channel reports. The firm owned 104,516 shares of the bank’s stock after buying an additional 326 shares during the period. Rhumbline Advisers’ holdings in SVB Financial Group were worth $18,373,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of SIVB. Capstone Asset Management Co. raised its stake in shares of SVB Financial Group by 8.0% in the first quarter. Capstone Asset Management Co. now owns 4,774 shares of the bank’s stock worth $888,000 after buying an additional 354 shares during the period. Columbus Circle Investors purchased a new stake in shares of SVB Financial Group during the first quarter worth $51,840,000. Oakbrook Investments LLC raised its stake in shares of SVB Financial Group by 60.2% in the first quarter. Oakbrook Investments LLC now owns 4,325 shares of the bank’s stock worth $805,000 after buying an additional 1,625 shares during the period. Huntington National Bank raised its stake in shares of SVB Financial Group by 11.7% in the first quarter. Huntington National Bank now owns 17,706 shares of the bank’s stock worth $3,294,000 after buying an additional 1,853 shares during the period. Finally, State of Alaska Department of Revenue purchased a new stake in shares of SVB Financial Group during the first quarter worth $171,000. 95.52% of the stock is owned by institutional investors and hedge funds.
SVB Financial Group (NASDAQ SIVB) opened at 166.30 on Friday. The stock has a market capitalization of $8.76 billion, a P/E ratio of 20.21 and a beta of 1.59. The company’s 50-day moving average price is $179.10 and its 200 day moving average price is $181.04. SVB Financial Group has a 52 week low of $103.12 and a 52 week high of $198.83.
SVB Financial Group (NASDAQ:SIVB) last posted its quarterly earnings results on Thursday, July 27th. The bank reported $2.32 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.05 by $0.27. SVB Financial Group had a return on equity of 11.27% and a net margin of 24.36%. The company had revenue of $471.70 million for the quarter, compared to analysts’ expectations of $451.96 million. During the same period last year, the firm earned $1.78 earnings per share. SVB Financial Group’s quarterly revenue was up 10.2% on a year-over-year basis. Equities research analysts expect that SVB Financial Group will post $8.99 EPS for the current fiscal year.
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SIVB has been the subject of a number of research analyst reports. Stephens reaffirmed a “buy” rating on shares of SVB Financial Group in a research report on Thursday, April 27th. Barclays PLC reaffirmed a “hold” rating and set a $188.00 target price on shares of SVB Financial Group in a research report on Monday, May 1st. Zacks Investment Research lowered SVB Financial Group from a “buy” rating to a “hold” rating in a research report on Monday, May 1st. Morgan Stanley lifted their target price on SVB Financial Group from $208.00 to $210.00 and gave the company an “overweight” rating in a research report on Tuesday, June 6th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $216.00 target price on shares of SVB Financial Group in a research report on Sunday, June 11th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $202.75.
In other SVB Financial Group news, insider Michael Descheneaux sold 3,500 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $182.07, for a total value of $637,245.00. Following the sale, the insider now directly owns 14,064 shares in the company, valued at $2,560,632.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Philip C. Cox sold 3,024 shares of the firm’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $182.80, for a total value of $552,787.20. Following the completion of the sale, the insider now owns 2,872 shares in the company, valued at $525,001.60. The disclosure for this sale can be found here. 0.73% of the stock is owned by company 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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