Harrington Investments INC Increases Position in SVB Financial Group (NASDAQ:SIVB)

Harrington Investments INC raised its stake in SVB Financial Group (NASDAQ:SIVB – Get Rating) by 7.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 13,863 shares of the bank’s stock after purchasing an additional 955 shares during the quarter. SVB Financial Group comprises approximately 2.3% of Harrington Investments INC’s holdings, making the stock its 10th biggest position. Harrington Investments INC’s holdings in SVB Financial Group were worth $3,190,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Mitsubishi UFJ Trust & Banking Corp boosted its stake in SVB Financial Group by 3.4% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 32,386 shares of the bank’s stock worth $10,875,000 after buying an additional 1,054 shares during the period. Toronto Dominion Bank increased its stake in SVB Financial Group by 28.9% in the 3rd quarter. Toronto Dominion Bank now owns 34,919 shares of the bank’s stock worth $11,722,000 after buying an additional 7,827 shares during the period. LMR Partners LLP bought a new position in SVB Financial Group in the 3rd quarter worth about $546,000. Commonwealth Equity Services LLC increased its position in shares of SVB Financial Group by 9.0% during the third quarter. Commonwealth Equity Services LLC now owns 5,992 shares of the bank’s stock worth $2,011,000 after acquiring an additional 497 shares during the period. Finally, Forsta AP Fonden raised its stake in shares of SVB Financial Group by 4.3% during the second quarter. Forsta AP Fonden now owns 9,800 shares of the bank’s stock valued at $3,871,000 after acquiring an additional 400 shares in the last quarter. 92.35% of the stock is currently owned by institutional investors.

SVB Financial Group Stock Performance

Shares of NASDAQ SIVB remained flat at $106.04 during mid-day trading on Friday. The business’s 50-day simple moving average is $261.73 and its two-hundred day simple moving average is $273.23. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.48 and a quick ratio of 0.48. The firm has a market capitalization of $6.28 billion, a price-to-earnings ratio of 4.18, a P/E/G ratio of 0.91 and a beta of 1.57. SVB Financial Group has a 52-week low of $39.40 and a 52-week high of $597.16.

SVB Financial Group (NASDAQ:SIVB – Get Rating) last issued its earnings results on Thursday, January 19th. The bank reported $4.62 earnings per share for the quarter, missing the consensus estimate of $5.26 by ($0.64). The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.48 billion. SVB Financial Group had a return on equity of 13.02% and a net margin of 22.05%. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.22 earnings per share. On average, research analysts forecast that SVB Financial Group will post 14.49 EPS for the current fiscal year.

Analysts Set New Price Targets

SIVB has been the subject of several recent research reports. The Goldman Sachs Group boosted their price target on shares of SVB Financial Group from $280.00 to $312.00 and gave the company a “buy” rating in a report on Friday, March 3rd. Morgan Stanley increased their target price on shares of SVB Financial Group from $186.00 to $190.00 and gave the company an “underweight” rating in a research report on Thursday, December 15th. Piper Sandler decreased their price objective on SVB Financial Group from $250.00 to $195.00 and set a “buy” rating for the company in a report on Thursday, March 9th. Wells Fargo & Company decreased their price target on SVB Financial Group from $350.00 to $300.00 and set an “overweight” rating for the company in a research note on Thursday, March 9th. Finally, JPMorgan Chase & Co. dropped their price target on SVB Financial Group from $300.00 to $270.00 and set an “overweight” rating on the stock in a research note on Thursday, March 9th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, SVB Financial Group presently has an average rating of “Hold” and an average price target of $348.47.

Insider Activity at SVB Financial Group

In other news, CMO Michelle Draper sold 165 shares of SVB Financial Group stock in a transaction that occurred on Friday, January 20th. The shares were sold at an average price of $300.00, for a total transaction of $49,500.00. Following the sale, the chief marketing officer now owns 4,261 shares of the company’s stock, valued at approximately $1,278,300. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Gregory W. Becker sold 12,451 shares of the firm’s stock in a transaction on Monday, February 27th. The stock was sold at an average price of $287.42, for a total transaction of $3,578,666.42. Following the completion of the transaction, the chief executive officer now directly owns 92,552 shares in the company, valued at $26,601,295.84. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CMO Michelle Draper sold 165 shares of SVB Financial Group stock in a transaction dated Friday, January 20th. The shares were sold at an average price of $300.00, for a total value of $49,500.00. Following the completion of the transaction, the chief marketing officer now directly owns 4,261 shares of the company’s stock, valued at $1,278,300. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,004 shares of company stock valued at $5,016,701. 0.62% of the stock is owned by company insiders.

SVB Financial Group Profile

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SVB Financial Group is a holding company, which engages in the provision of banking and financial services. It operates through the following segments: Global Commercial Bank, SVB Private Bank, SVB Capital, and SVB Leerink. The Global Commercial Bank segment consists of results from the commercial bank, private equity division, SVB wine, SVB analytics, and debt fund investments.