Dynamic Technology Lab Private Ltd reduced its holdings in SVB Financial Group (NASDAQ:SIVB) by 69.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,100 shares of the bank’s stock after selling 2,524 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in SVB Financial Group were worth $206,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of SIVB. BDO Wealth Advisors LLC purchased a new position in shares of SVB Financial Group in the 2nd quarter valued at approximately $109,000. Peddock Capital Advisors LLC purchased a new position in shares of SVB Financial Group in the 2nd quarter valued at approximately $130,000. Global X Management Co. LLC lifted its stake in shares of SVB Financial Group by 58.6% in the 2nd quarter. Global X Management Co. LLC now owns 782 shares of the bank’s stock valued at $137,000 after purchasing an additional 289 shares during the period. Toronto Dominion Bank lifted its stake in shares of SVB Financial Group by 525.6% in the 2nd quarter. Toronto Dominion Bank now owns 782 shares of the bank’s stock valued at $137,000 after purchasing an additional 657 shares during the period. Finally, Tredje AP fonden purchased a new position in shares of SVB Financial Group in the 2nd quarter valued at approximately $144,000. Hedge funds and other institutional investors own 91.77% of the company’s stock.
SVB Financial Group (NASDAQ SIVB) opened at $229.79 on Friday. SVB Financial Group has a one year low of $159.44 and a one year high of $236.18. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.59 and a current ratio of 0.59. The stock has a market capitalization of $12,120.00, a price-to-earnings ratio of 25.54, a price-to-earnings-growth ratio of 2.18 and a beta of 1.62.
SVB Financial Group (NASDAQ:SIVB) last posted its quarterly earnings results on Thursday, October 26th. The bank reported $2.79 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.29 by $0.50. SVB Financial Group had a return on equity of 11.88% and a net margin of 25.07%. The firm had revenue of $533.40 million during the quarter, compared to analysts’ expectations of $490.56 million. During the same quarter in the previous year, the business earned $2.12 earnings per share. The company’s revenue was up 23.0% on a year-over-year basis. equities research analysts forecast that SVB Financial Group will post 9.51 EPS for the current fiscal year.
In other news, Director Eric Benhamou sold 2,000 shares of the business’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $226.01, for a total value of $452,020.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Gregory W. Becker sold 9,511 shares of the business’s stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $232.68, for a total value of $2,213,019.48. The disclosure for this sale can be found here. Insiders sold 20,291 shares of company stock valued at $4,558,918 in the last 90 days. Company insiders own 0.73% of the company’s stock.
A number of research firms have recently commented on SIVB. ValuEngine cut SVB Financial Group from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Zacks Investment Research upgraded SVB Financial Group from a “hold” rating to a “buy” rating and set a $247.00 target price for the company in a research note on Tuesday, October 31st. Barclays set a $217.00 target price on SVB Financial Group and gave the company a “hold” rating in a research note on Monday, October 30th. Maxim Group restated a “buy” rating and issued a $250.00 target price (up previously from $220.00) on shares of SVB Financial Group in a research note on Monday, October 30th. Finally, SunTrust Banks reiterated a “buy” rating and set a $245.00 price objective on shares of SVB Financial Group in a research note on Friday, November 17th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. SVB Financial Group currently has a consensus rating of “Buy” and a consensus price target of $216.21.
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SVB Financial Group 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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