SVB Financial Group (SIVB) Shares Bought by Scout Investments Inc.
Scout Investments Inc. grew its stake in shares of SVB Financial Group (NASDAQ:SIVB) by 40.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 123,638 shares of the bank’s stock after acquiring an additional 35,783 shares during the period. SVB Financial Group comprises approximately 0.8% of Scout Investments Inc.’s investment portfolio, making the stock its 22nd biggest holding. Scout Investments Inc.’s holdings in SVB Financial Group were worth $38,430,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the company. Bank of New York Mellon Corp raised its stake in SVB Financial Group by 56.5% in the second quarter. Bank of New York Mellon Corp now owns 1,306,038 shares of the bank’s stock worth $377,130,000 after buying an additional 471,329 shares in the last quarter. Millennium Management LLC raised its stake in SVB Financial Group by 93.1% in the second quarter. Millennium Management LLC now owns 770,940 shares of the bank’s stock worth $222,617,000 after buying an additional 371,684 shares in the last quarter. Bank of Montreal Can bought a new position in SVB Financial Group in the second quarter worth approximately $96,584,000. Guggenheim Capital LLC raised its stake in SVB Financial Group by 566.7% in the first quarter. Guggenheim Capital LLC now owns 220,949 shares of the bank’s stock worth $53,029,000 after buying an additional 187,808 shares in the last quarter. Finally, Atlantic Trust Group LLC bought a new position in SVB Financial Group in the first quarter worth approximately $38,938,000. 88.88% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts recently commented on SIVB shares. Zacks Investment Research raised shares of SVB Financial Group from a “hold” rating to a “buy” rating and set a $339.00 price objective for the company in a research note on Tuesday, July 17th. Stephens reissued a “buy” rating and issued a $350.00 price objective on shares of SVB Financial Group in a research note on Friday, July 13th. Sandler O’Neill reissued a “buy” rating on shares of SVB Financial Group in a research note on Friday, July 27th. Piper Jaffray Companies reissued a “buy” rating and issued a $384.00 price objective on shares of SVB Financial Group in a research note on Friday, July 27th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and issued a $370.00 price objective on shares of SVB Financial Group in a research note on Friday, July 27th. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $356.56.
SVB Financial Group (NASDAQ:SIVB) last released its quarterly earnings results on Thursday, July 26th. The bank reported $4.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.86 by $0.56. SVB Financial Group had a net margin of 29.56% and a return on equity of 16.47%. The business had revenue of $659.10 million for the quarter, compared to analyst estimates of $612.75 million. During the same period in the previous year, the company earned $2.32 earnings per share. The business’s revenue for the quarter was up 39.9% on a year-over-year basis. As a group, sell-side analysts predict that SVB Financial Group will post 17.29 earnings per share for the current fiscal year.
In other SVB Financial Group news, insider Gregory W. Becker sold 12,872 shares of SVB Financial Group stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $310.97, for a total value of $4,002,805.84. Following the transaction, the insider now directly owns 18,039 shares of the company’s stock, valued at $5,609,587.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John F. Robinson sold 500 shares of SVB Financial Group stock in a transaction on Monday, September 10th. The stock was sold at an average price of $324.07, for a total transaction of $162,035.00. Following the completion of the transaction, the director now directly owns 5,017 shares in the company, valued at $1,625,859.19. The disclosure for this sale can be found here. Insiders sold 20,372 shares of company stock worth $6,442,641 over the last ninety days. Corporate insiders own 0.74% of the company’s stock.
SVB Financial Group Company Profile
SVB Financial Group, a diversified financial services company, provides various banking and financial products and services. Its Global Commercial Bank segment offers deposit products, such as business and analysis checking, money market, multi-currency, in-country bank, and sweep accounts, as well as merchant, remote capture, lockbox, electronic deposit capture, and fraud control services; credit products and services comprising term loans, equipment loans, asset-based loans, revolving lines of credit, accounts-receivable-based lines of credit, capital call lines of credit, and credit cards; and payment and cash management products and services, including wire transfer and automated clearing house payment, bill pay, debit card account analysis, and disbursement, as well as online and mobile banking services.
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