Diamond Hill Capital Management Inc. trimmed its position in SVB Financial Group (NASDAQ:SIVB) by 0.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 240,157 shares of the bank’s stock after selling 1,611 shares during the period. Diamond Hill Capital Management Inc. owned 0.46% of SVB Financial Group worth $44,931,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in SIVB. UBS Asset Management Americas Inc. boosted its holdings in SVB Financial Group by 14.0% in the 1st quarter. UBS Asset Management Americas Inc. now owns 32,264 shares of the bank’s stock valued at $6,004,000 after purchasing an additional 3,956 shares during the period. Teachers Advisors LLC boosted its holdings in SVB Financial Group by 7.4% in the 1st quarter. Teachers Advisors LLC now owns 138,140 shares of the bank’s stock valued at $25,706,000 after purchasing an additional 9,479 shares during the period. MARSHALL WACE ASIA Ltd bought a new position in SVB Financial Group in the 1st quarter valued at $1,528,000. Marshall Wace North America L.P. bought a new position in SVB Financial Group in the 1st quarter valued at $1,528,000. Finally, Morgan Stanley boosted its holdings in SVB Financial Group by 24.2% in the 1st quarter. Morgan Stanley now owns 185,104 shares of the bank’s stock valued at $34,446,000 after purchasing an additional 36,113 shares during the period. 92.04% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have commented on SIVB shares. Wedbush reissued a “neutral” rating and issued a $192.00 price target on shares of SVB Financial Group in a report on Tuesday, June 27th. Zacks Investment Research raised shares of SVB Financial Group from a “hold” rating to a “buy” rating and set a $197.00 price target for the company in a report on Tuesday, July 4th. Barclays PLC reissued an “equal weight” rating and issued a $191.00 price target (up from $188.00) on shares of SVB Financial Group in a report on Wednesday, July 12th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $195.00 price target on shares of SVB Financial Group in a report on Friday, July 14th. Finally, Piper Jaffray Companies reissued a “buy” rating and issued a $212.00 price target on shares of SVB Financial Group in a report on Friday, July 14th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company’s stock. SVB Financial Group has an average rating of “Buy” and a consensus target price of $203.00.
In other SVB Financial Group news, insider Michael Descheneaux sold 3,500 shares of the stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $182.07, for a total transaction of $637,245.00. Following the completion of the transaction, the insider now owns 14,064 shares in the company, valued at $2,560,632.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eric Benhamou sold 2,000 shares of the stock in a transaction on Friday, September 1st. The shares were sold at an average price of $172.01, for a total transaction of $344,020.00. Following the transaction, the director now owns 6,672 shares of the company’s stock, valued at approximately $1,147,650.72. The disclosure for this sale can be found here. Insiders have sold 8,524 shares of company stock valued at $1,534,052 in the last quarter. 0.73% of the stock is owned by company insiders.
Shares of SVB Financial Group (SIVB) opened at 188.66 on Monday. SVB Financial Group has a 1-year low of $116.59 and a 1-year high of $198.83. The firm has a 50-day moving average of $179.37 and a 200 day moving average of $178.39. The company has a market capitalization of $9.94 billion, a P/E ratio of 22.93 and a beta of 1.63.
SVB Financial Group (NASDAQ:SIVB) last released its quarterly earnings data on Thursday, July 27th. The bank reported $2.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.05 by $0.27. SVB Financial Group had a net margin of 24.36% and a return on equity of 11.27%. The business had revenue of $471.70 million during the quarter, compared to analyst estimates of $451.96 million. During the same quarter last year, the business earned $1.78 earnings per share. SVB Financial Group’s quarterly revenue was up 10.2% compared to the same quarter last year. On average, analysts anticipate that SVB Financial Group will post $8.99 EPS for the current year.
About SVB Financial Group
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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