Engineers Gate Manager LP purchased a new stake in SVB Financial Group (NASDAQ:SIVB) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 3,491 shares of the bank’s stock, valued at approximately $614,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. BDO Wealth Advisors LLC acquired a new stake in SVB Financial Group in the 2nd quarter valued at $109,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. acquired a new stake in SVB Financial Group in the 1st quarter valued at $117,000. Exane Derivatives acquired a new stake in SVB Financial Group in the 2nd quarter valued at $119,000. Peddock Capital Advisors LLC acquired a new stake in SVB Financial Group in the 2nd quarter valued at $130,000. Finally, Whittier Trust Co. of Nevada Inc. increased its holdings in SVB Financial Group by 79.6% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 774 shares of the bank’s stock valued at $136,000 after purchasing an additional 343 shares in the last quarter. Hedge funds and other institutional investors own 92.17% of the company’s stock.
Shares of SVB Financial Group (NASDAQ:SIVB) opened at 170.59 on Friday. The stock’s 50 day moving average price is $172.31 and its 200 day moving average price is $179.20. SVB Financial Group has a 52 week low of $104.84 and a 52 week high of $198.83. The firm has a market capitalization of $8.99 billion, a P/E ratio of 20.73 and a beta of 1.61.
SVB Financial Group (NASDAQ:SIVB) last released its 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. The firm had revenue of $471.70 million during the quarter, compared to analyst estimates of $451.96 million. SVB Financial Group had a net margin of 24.36% and a return on equity of 11.27%. The business’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.78 EPS. On average, analysts predict that SVB Financial Group will post $8.99 EPS for the current fiscal year.
Several analysts recently issued reports on the company. Jefferies Group LLC reiterated a “buy” rating and issued a $216.00 price target on shares of SVB Financial Group in a report on Friday, August 11th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $195.00 price target on shares of SVB Financial Group in a report on Friday, July 14th. Morgan Stanley raised their target price on SVB Financial Group from $208.00 to $210.00 and gave the company an “overweight” rating in a research note on Tuesday, June 6th. Maxim Group raised their target price on SVB Financial Group from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Monday, July 31st. Finally, Stephens restated a “buy” rating and set a $205.00 target price on shares of SVB Financial Group in a research note on Friday, July 28th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $202.75.
In other news, insider Philip C. Cox sold 3,024 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $182.80, for a total transaction of $552,787.20. Following the transaction, the insider now owns 2,872 shares in the company, valued at approximately $525,001.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Michael Descheneaux sold 3,500 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $182.07, for a total transaction of $637,245.00. Following the transaction, the insider now owns 14,064 shares in the company, valued at approximately $2,560,632.48. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,524 shares of company stock valued at $1,534,052. Company insiders own 0.73% of the company’s stock.
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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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