SVB Financial Group (SIVB) Stake Lessened by Stephens Inc. AR
Stephens Inc. AR lowered its position in shares of SVB Financial Group (NASDAQ:SIVB) by 10.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,852 shares of the bank’s stock after selling 326 shares during the period. Stephens Inc. AR’s holdings in SVB Financial Group were worth $501,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Credit Agricole S A increased its holdings in SVB Financial Group by 924.5% in the 1st quarter. Credit Agricole S A now owns 1,128,284 shares of the bank’s stock valued at $44,547,000 after purchasing an additional 1,018,151 shares during the last quarter. Comerica Bank increased its holdings in SVB Financial Group by 0.9% in the 2nd quarter. Comerica Bank now owns 42,407 shares of the bank’s stock valued at $7,560,000 after purchasing an additional 365 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in SVB Financial Group in the 2nd quarter valued at approximately $26,296,000. Principal Financial Group Inc. increased its holdings in SVB Financial Group by 6.8% in the 2nd quarter. Principal Financial Group Inc. now owns 223,271 shares of the bank’s stock valued at $39,249,000 after purchasing an additional 14,145 shares during the last quarter. Finally, Synovus Financial Corp increased its holdings in SVB Financial Group by 14.4% in the 2nd quarter. Synovus Financial Corp now owns 7,139 shares of the bank’s stock valued at $1,253,000 after purchasing an additional 897 shares during the last quarter. Institutional investors and hedge funds own 92.10% of the company’s stock.
Several research firms recently weighed in on SIVB. ValuEngine upgraded shares of SVB Financial Group from a “hold” rating to a “buy” rating in a report on Thursday, August 17th. Jefferies Group LLC reiterated a “buy” rating and issued a $216.00 target price on shares of SVB Financial Group in a report on Friday, August 11th. Maxim Group lifted their target price on shares of SVB Financial Group from $200.00 to $220.00 and gave the company a “buy” rating in a report on Monday, July 31st. BidaskClub downgraded shares of SVB Financial Group from a “buy” rating to a “hold” rating in a report on Sunday, July 30th. Finally, Stephens reiterated a “buy” rating and issued a $205.00 target price on shares of SVB Financial Group in a report on Friday, July 28th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $202.75.
SVB Financial Group (NASDAQ SIVB) opened at 172.88 on Wednesday. The firm has a 50-day moving average of $172.02 and a 200 day moving average of $178.69. SVB Financial Group has a 12 month low of $104.84 and a 12 month high of $198.83. The stock has a market cap of $9.11 billion, a PE ratio of 21.01 and a beta of 1.61.
SVB Financial Group (NASDAQ:SIVB) last released its quarterly earnings data on Thursday, July 27th. The bank reported $2.32 earnings per share (EPS) for the quarter, topping the 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 during the quarter, compared to analyst estimates of $451.96 million. During the same quarter in the prior year, the business earned $1.78 earnings per share. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. Analysts anticipate that SVB Financial Group will post $8.99 EPS for the current year.
In other news, insider Michael Descheneaux sold 3,500 shares of the stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $182.07, for a total value of $637,245.00. Following the completion of the sale, the insider now owns 14,064 shares of the company’s stock, valued at $2,560,632.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eric Benhamou sold 2,000 shares of the stock in a transaction on Friday, September 1st. The stock was sold at an average price of $172.01, for a total transaction of $344,020.00. Following the completion of the sale, the director now directly owns 6,672 shares of the company’s stock, valued at approximately $1,147,650.72. The disclosure for this sale can be found here. Insiders sold 8,524 shares of company stock valued at $1,534,052 in the last three months. Company insiders own 0.73% of the company’s stock.
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.
Want to see what other hedge funds are holding SIVB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SVB Financial Group (NASDAQ:SIVB).
Receive News & Ratings for SVB Financial Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SVB Financial Group and related companies with MarketBeat.com's FREE daily email newsletter.