Royal London Asset Management Ltd. acquired a new position in SVB Financial Group (NASDAQ:SIVB) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 20,681 shares of the bank’s stock, valued at approximately $5,972,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in SIVB. Bank of New York Mellon Corp lifted its stake in SVB Financial Group by 56.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,306,038 shares of the bank’s stock worth $377,130,000 after purchasing an additional 471,329 shares in the last quarter. Millennium Management LLC lifted its stake in SVB Financial Group by 93.1% in the 2nd quarter. Millennium Management LLC now owns 770,940 shares of the bank’s stock worth $222,617,000 after purchasing an additional 371,684 shares in the last quarter. Bank of Montreal Can purchased a new stake in SVB Financial Group in the 2nd quarter worth approximately $96,584,000. Guggenheim Capital LLC lifted its stake in SVB Financial Group by 566.7% in the 1st quarter. Guggenheim Capital LLC now owns 220,949 shares of the bank’s stock worth $53,029,000 after purchasing an additional 187,808 shares in the last quarter. Finally, Atlantic Trust Group LLC purchased a new stake in SVB Financial Group in the 1st quarter worth approximately $38,938,000. 88.85% of the stock is owned by institutional investors.
Several analysts have issued reports on the stock. Jefferies Financial Group increased their target price on shares of SVB Financial Group to $378.00 and gave the stock a “buy” rating in a research note on Monday, August 27th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $370.00 target price on shares of SVB Financial Group in a research note on Friday, July 27th. JPMorgan Chase & Co. increased their target price on shares of SVB Financial Group from $345.00 to $375.00 and gave the stock an “overweight” rating in a research note on Monday, June 11th. They noted that the move was a valuation call. Wedbush increased their target price on shares of SVB Financial Group from $325.00 to $350.00 and gave the stock a “neutral” rating in a research note on Friday, July 27th. Finally, Sandler O’Neill reiterated a “buy” rating on shares of SVB Financial Group in a research note on Friday, July 27th. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $354.06.
In related news, insider Gregory W. Becker sold 12,872 shares of SVB Financial Group stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $310.97, for a total value of $4,002,805.84. Following the transaction, the insider now owns 18,039 shares in the company, valued at approximately $5,609,587.83. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John F. Robinson sold 500 shares of SVB Financial Group stock in a transaction on Tuesday, July 10th. The stock was sold at an average price of $304.25, for a total transaction of $152,125.00. Following the completion of the transaction, the director now owns 5,517 shares in the company, valued at approximately $1,678,547.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,872 shares of company stock worth $6,594,766. Corporate insiders own 0.74% of the company’s stock.
SVB Financial Group stock opened at $316.64 on Thursday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.60 and a current ratio of 0.60. The firm has a market cap of $17.07 billion, a PE ratio of 31.95, a P/E/G ratio of 1.69 and a beta of 1.47. SVB Financial Group has a fifty-two week low of $180.32 and a fifty-two week high of $333.74.
SVB Financial Group (NASDAQ:SIVB) last posted its quarterly earnings data on Thursday, July 26th. The bank reported $4.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.86 by $0.56. The firm had revenue of $659.10 million for the quarter, compared to analysts’ expectations of $612.75 million. SVB Financial Group had a net margin of 29.56% and a return on equity of 16.47%. The business’s quarterly revenue was up 39.9% on a year-over-year basis. During the same quarter last year, the company posted $2.32 EPS. equities analysts forecast that SVB Financial Group will post 17.29 earnings per share for the current year.
About SVB Financial Group
SVB Financial Group, a diversified financial services company, provides various banking and financial products and services. Its 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 card account analysis, and disbursement, as well as online and mobile banking services.
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