Nomura Holdings Inc. Acquires Shares of 6,355 SVB Financial Group (SIVB)
Nomura Holdings Inc. acquired a new position in shares of SVB Financial Group (NASDAQ:SIVB) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 6,355 shares of the bank’s stock, valued at approximately $1,118,000.
Several other institutional investors also recently made changes to their positions in the stock. The Manufacturers Life Insurance Company grew its stake in shares of SVB Financial Group by 4.2% during the second quarter. The Manufacturers Life Insurance Company now owns 648,868 shares of the bank’s stock worth $114,064,000 after purchasing an additional 25,996 shares during the period. NBW Capital LLC grew its stake in shares of SVB Financial Group by 5.0% during the second quarter. NBW Capital LLC now owns 20,395 shares of the bank’s stock worth $3,585,000 after purchasing an additional 980 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in shares of SVB Financial Group during the second quarter worth $1,402,000. Sciencast Management LP acquired a new stake in shares of SVB Financial Group during the second quarter worth $657,000. Finally, BlueCrest Capital Management Ltd grew its stake in shares of SVB Financial Group by 10.2% during the second quarter. BlueCrest Capital Management Ltd now owns 6,946 shares of the bank’s stock worth $1,221,000 after purchasing an additional 644 shares during the period. 92.04% of the stock is owned by institutional investors and hedge funds.
In other news, Director Eric Benhamou sold 2,000 shares of the firm’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $172.01, for a total value of $344,020.00. Following the completion of the sale, the director now directly owns 6,672 shares in the company, valued at approximately $1,147,650.72. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Michael Descheneaux sold 3,500 shares of the firm’s stock in a transaction dated 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,524 shares of company stock valued at $1,534,052. Company insiders own 0.73% of the company’s stock.
SVB Financial Group (NASDAQ:SIVB) opened at 185.70 on Tuesday. The firm has a 50-day moving average price of $177.25 and a 200-day moving average price of $178.32. The firm has a market capitalization of $9.79 billion, a PE ratio of 22.57 and a beta of 1.63. SVB Financial Group has a 1-year low of $114.22 and a 1-year high of $198.83.
SVB Financial Group (NASDAQ:SIVB) last issued its quarterly earnings results on Thursday, July 27th. The bank reported $2.32 earnings per share for the quarter, topping 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 firm had revenue of $471.70 million during the quarter, compared to the consensus estimate of $451.96 million. During the same period last year, the business posted $1.78 EPS. The business’s revenue was up 10.2% compared to the same quarter last year. Equities analysts expect that SVB Financial Group will post $8.99 earnings per share for the current fiscal year.
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A number of brokerages recently commented on SIVB. Morgan Stanley reaffirmed an “overweight” rating and set a $213.00 price objective (up from $210.00) on shares of SVB Financial Group in a research note on Wednesday, October 4th. Zacks Investment Research cut SVB Financial Group from a “hold” rating to a “sell” rating in a research note on Tuesday, October 3rd. ValuEngine cut SVB Financial Group from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Jefferies Group LLC reaffirmed a “buy” rating and set a $216.00 price objective on shares of SVB Financial Group in a research note on Friday, August 11th. Finally, Maxim Group lifted their price objective on SVB Financial Group from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the stock. SVB Financial Group currently has an average rating of “Buy” and an average target price of $203.00.
About SVB Financial Group
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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