Mackay Shields LLC increased its stake in SVB Financial Group (NASDAQ:SIVB) by 2.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,656 shares of the bank’s stock after acquiring an additional 169 shares during the quarter. Mackay Shields LLC’s holdings in SVB Financial Group were worth $1,644,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of SVB Financial Group by 2.2% in the third quarter. Vanguard Group Inc. now owns 5,596,383 shares of the bank’s stock worth $1,739,523,000 after buying an additional 121,374 shares during the period. Vanguard Group Inc boosted its position in SVB Financial Group by 2.2% during the third quarter. Vanguard Group Inc now owns 5,596,383 shares of the bank’s stock valued at $1,739,523,000 after purchasing an additional 121,374 shares during the last quarter. BlackRock Inc. boosted its position in SVB Financial Group by 2.5% during the fourth quarter. BlackRock Inc. now owns 3,840,775 shares of the bank’s stock valued at $729,440,000 after purchasing an additional 93,131 shares during the last quarter. Bank of New York Mellon Corp boosted its position in SVB Financial Group by 16.8% during the third quarter. Bank of New York Mellon Corp now owns 1,525,038 shares of the bank’s stock valued at $474,028,000 after purchasing an additional 219,000 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its position in SVB Financial Group by 5.7% during the fourth quarter. Fisher Asset Management LLC now owns 1,063,554 shares of the bank’s stock valued at $201,990,000 after purchasing an additional 57,752 shares during the last quarter. Institutional investors and hedge funds own 91.08% of the company’s stock.
Shares of SIVB opened at $212.19 on Monday. SVB Financial Group has a 12-month low of $177.70 and a 12-month high of $333.74. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a market cap of $11.17 billion, a P/E ratio of 11.64, a PEG ratio of 1.39 and a beta of 2.03.
SVB Financial Group (NASDAQ:SIVB) last issued its quarterly earnings results on Thursday, January 24th. The bank reported $4.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.69 by $0.27. SVB Financial Group had a return on equity of 19.90% and a net margin of 35.87%. The firm had revenue of $673.69 million for the quarter, compared to analyst estimates of $697.89 million. During the same period in the previous year, the company posted $2.19 earnings per share. The company’s quarterly revenue was up 30.0% compared to the same quarter last year. Analysts anticipate that SVB Financial Group will post 20.39 EPS for the current fiscal year.
A number of research firms recently issued reports on SIVB. Jefferies Financial Group reduced their price objective on SVB Financial Group from $288.00 to $278.00 and set a “buy” rating for the company in a research report on Thursday, December 6th. Zacks Investment Research upgraded SVB Financial Group from a “hold” rating to a “buy” rating and set a $242.00 target price on the stock in a report on Tuesday, January 15th. Morgan Stanley cut their target price on SVB Financial Group from $320.00 to $310.00 and set an “overweight” rating on the stock in a report on Tuesday, January 8th. Piper Jaffray Companies cut their target price on SVB Financial Group to $285.00 and set an “overweight” rating on the stock in a report on Thursday, January 3rd. Finally, Stephens restated a “buy” rating and set a $290.00 target price on shares of SVB Financial Group in a report on Wednesday, December 19th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. SVB Financial Group has an average rating of “Buy” and a consensus price target of $315.07.
In other SVB Financial Group news, insider John China sold 11,200 shares of SVB Financial Group stock in a transaction that occurred on Thursday, February 28th. The stock was sold at an average price of $249.12, for a total transaction of $2,790,144.00. Following the sale, the insider now directly owns 22,172 shares of the company’s stock, valued at $5,523,488.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christopher Edmonds-Waters sold 3,669 shares of SVB Financial Group stock in a transaction that occurred on Thursday, February 14th. The shares were sold at an average price of $242.39, for a total value of $889,328.91. Following the sale, the insider now directly owns 6,020 shares in the company, valued at $1,459,187.80. The disclosure for this sale can be found here. Insiders have sold 16,617 shares of company stock worth $4,096,266 over the last ninety days. Company insiders own 0.73% of the company’s stock.
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SVB Financial Group Profile
SVB Financial Group, a diversified financial services company, provides various banking and financial products and services. The company operates through three segments: Global Commercial Bank, SVB Private Bank, and SVB Capital. The 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 and credit cards, account analysis, and disbursement, as well as online and mobile banking services.
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