Schwab Charles Investment Management Inc. Boosts Stake in SVB Financial Group (SIVB)
Schwab Charles Investment Management Inc. raised its position in shares of SVB Financial Group (NASDAQ:SIVB) by 5.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 192,483 shares of the bank’s stock after purchasing an additional 9,967 shares during the period. Schwab Charles Investment Management Inc. owned 0.36% of SVB Financial Group worth $36,012,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the business. Barings LLC boosted its stake in SVB Financial Group by 145.7% during the 3rd quarter. Barings LLC now owns 4,620 shares of the bank’s stock valued at $864,000 after purchasing an additional 2,740 shares during the period. WINTON GROUP Ltd acquired a new position in SVB Financial Group during the 3rd quarter valued at about $3,339,000. Wells Fargo & Company MN boosted its stake in SVB Financial Group by 7.8% during the 3rd quarter. Wells Fargo & Company MN now owns 107,473 shares of the bank’s stock valued at $20,107,000 after purchasing an additional 7,783 shares during the period. JPMorgan Chase & Co. boosted its stake in SVB Financial Group by 16.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,489,781 shares of the bank’s stock valued at $464,570,000 after purchasing an additional 354,948 shares during the period. Finally, Legal & General Group Plc boosted its stake in SVB Financial Group by 13.7% during the 3rd quarter. Legal & General Group Plc now owns 105,766 shares of the bank’s stock valued at $19,790,000 after purchasing an additional 12,777 shares during the period. 91.77% of the stock is owned by hedge funds and other institutional investors.
Shares of SVB Financial Group (SIVB) opened at $232.27 on Friday. SVB Financial Group has a 52-week low of $159.44 and a 52-week high of $236.18. The company has a market cap of $12,119.29, a PE ratio of 25.79, a price-to-earnings-growth ratio of 2.20 and a beta of 1.62. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.59 and a current ratio of 0.59.
SVB Financial Group (NASDAQ:SIVB) last released its quarterly earnings results on Thursday, October 26th. The bank reported $2.79 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.50. SVB Financial Group had a net margin of 25.07% and a return on equity of 11.88%. The company had revenue of $533.40 million for the quarter, compared to the consensus estimate of $490.56 million. During the same period in the previous year, the firm earned $2.12 EPS. SVB Financial Group’s revenue was up 23.0% on a year-over-year basis. sell-side analysts anticipate that SVB Financial Group will post 9.51 earnings per share for the current fiscal year.
In related news, insider Gregory W. Becker sold 9,511 shares of the business’s stock in a transaction that occurred on Tuesday, December 5th. The shares were sold at an average price of $232.68, for a total value of $2,213,019.48. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Eric Benhamou sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $226.01, for a total transaction of $452,020.00. The disclosure for this sale can be found here. Insiders sold a total of 20,291 shares of company stock worth $4,558,918 over the last quarter. Insiders own 0.73% of the company’s stock.
A number of research analysts have issued reports on SIVB shares. ValuEngine raised shares of SVB Financial Group from a “hold” rating to a “buy” rating in a research note on Thursday, August 17th. Zacks Investment Research lowered shares of SVB Financial Group from a “buy” rating to a “hold” rating in a research note on Monday, November 13th. Wells Fargo & Company restated an “outperform” rating and set a $240.00 price target (up from $215.00) on shares of SVB Financial Group in a research report on Thursday, November 9th. Maxim Group restated a “buy” rating and set a $250.00 price target (up from $220.00) on shares of SVB Financial Group in a research report on Monday, October 30th. Finally, Barclays set a $217.00 price target on shares of SVB Financial Group and gave the stock a “hold” rating in a research report on Monday, October 30th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $216.21.
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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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