First Trust Advisors LP Has $10.23 Million Holdings in SVB Financial Group (NASDAQ:SIVB)
First Trust Advisors LP lessened its position in shares of SVB Financial Group (NASDAQ:SIVB) by 24.8% in the first quarter, according to its most recent filing with the SEC. The firm owned 67,681 shares of the bank’s stock after selling 22,317 shares during the quarter. First Trust Advisors LP owned approximately 0.13% of SVB Financial Group worth $10,225,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the business. Mission Wealth Management LP increased its position in SVB Financial Group by 5.0% during the 4th quarter. Mission Wealth Management LP now owns 1,038 shares of the bank’s stock valued at $261,000 after purchasing an additional 49 shares during the period. Parkside Financial Bank & Trust grew its position in shares of SVB Financial Group by 101.8% during the 4th quarter. Parkside Financial Bank & Trust now owns 113 shares of the bank’s stock worth $28,000 after buying an additional 57 shares during the period. Arizona State Retirement System grew its position in shares of SVB Financial Group by 0.6% during the 4th quarter. Arizona State Retirement System now owns 9,683 shares of the bank’s stock worth $2,431,000 after buying an additional 59 shares during the period. Steward Partners Investment Advisory LLC grew its position in shares of SVB Financial Group by 30.6% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 273 shares of the bank’s stock worth $41,000 after buying an additional 64 shares during the period. Finally, Meeder Asset Management Inc. grew its position in shares of SVB Financial Group by 104.5% during the 4th quarter. Meeder Asset Management Inc. now owns 135 shares of the bank’s stock worth $34,000 after buying an additional 69 shares during the period. 91.97% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ:SIVB opened at $190.85 on Friday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.05. The stock’s fifty day simple moving average is $173.81 and its two-hundred day simple moving average is $215.82. SVB Financial Group has a 1-year low of $127.39 and a 1-year high of $270.95. The stock has a market cap of $10.04 billion, a PE ratio of 10.13, a price-to-earnings-growth ratio of 1.88 and a beta of 2.22.
Several analysts have recently commented on SIVB shares. Stephens raised their price objective on shares of SVB Financial Group from $270.00 to $280.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Morgan Stanley raised their price objective on shares of SVB Financial Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Maxim Group reaffirmed a “buy” rating and set a $250.00 price objective (down previously from $300.00) on shares of SVB Financial Group in a research report on Friday, March 13th. They noted that the move was a valuation call. BidaskClub downgraded shares of SVB Financial Group from a “hold” rating to a “sell” rating in a research report on Thursday, May 14th. Finally, JMP Securities cut their target price on SVB Financial Group from $275.00 to $200.00 and set a “market outperform” rating on the stock in a report on Tuesday, May 5th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $222.60.
In other SVB Financial Group news, insider Michael Descheneaux sold 1,050 shares of SVB Financial Group stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $183.01, for a total transaction of $192,160.50. Following the completion of the transaction, the insider now owns 23,115 shares of the company’s stock, valued at approximately $4,230,276.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CMO Michelle Draper sold 213 shares of SVB Financial Group stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $175.00, for a total value of $37,275.00. Following the transaction, the chief marketing officer now directly owns 4,495 shares of the company’s stock, valued at approximately $786,625. The disclosure for this sale can be found here. In the last three months, insiders sold 4,192 shares of company stock valued at $775,430. 0.78% of the stock is currently owned by insiders.
SVB Financial Group Profile
SVB Financial Group, a diversified financial services company, provides various banking and financial products and services. The company operates through three segments: Global Commercial Bank, SVB Private Bank, and SVB Capital. The 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 and credit cards, account analysis, and disbursement, as well as online and mobile banking services.
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