M&T Bank Corp raised its position in SVB Financial Group (NASDAQ:SIVB) by 9.9% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 3,436 shares of the bank’s stock after acquiring an additional 309 shares during the period. M&T Bank Corp’s holdings in SVB Financial Group were worth $773,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of SIVB. Advisory Services Network LLC boosted its position in SVB Financial Group by 11.0% during the second quarter. Advisory Services Network LLC now owns 503 shares of the bank’s stock valued at $113,000 after purchasing an additional 50 shares during the last quarter. Nordea Investment Management AB boosted its stake in shares of SVB Financial Group by 1.7% during the 1st quarter. Nordea Investment Management AB now owns 3,250 shares of the bank’s stock worth $723,000 after acquiring an additional 54 shares during the period. Altman Advisors Inc. increased its holdings in shares of SVB Financial Group by 0.7% during the 2nd quarter. Altman Advisors Inc. now owns 7,392 shares of the bank’s stock worth $1,660,000 after acquiring an additional 54 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of SVB Financial Group by 5.7% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,155 shares of the bank’s stock worth $257,000 after acquiring an additional 62 shares during the last quarter. Finally, Parallel Advisors LLC raised its stake in SVB Financial Group by 27.3% in the 1st quarter. Parallel Advisors LLC now owns 312 shares of the bank’s stock valued at $69,000 after acquiring an additional 67 shares during the period. Institutional investors own 92.12% of the company’s stock.
NASDAQ:SIVB traded up $0.44 during mid-day trading on Wednesday, reaching $218.57. 11,679 shares of the company’s stock were exchanged, compared to its average volume of 422,729. SVB Financial Group has a one year low of $177.70 and a one year high of $330.50. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.71 and a current ratio of 0.71. The business’s fifty day simple moving average is $203.44 and its two-hundred day simple moving average is $224.13. The firm has a market capitalization of $11.13 billion, a PE ratio of 11.96, a price-to-earnings-growth ratio of 1.33 and a beta of 2.14.
SVB Financial Group (NASDAQ:SIVB) last posted its quarterly earnings data on Thursday, July 25th. The bank reported $6.08 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $4.98 by $1.10. SVB Financial Group had a net margin of 35.83% and a return on equity of 21.44%. The firm had revenue of $863.15 million during the quarter, compared to the consensus estimate of $787.38 million. During the same quarter in the previous year, the firm posted $4.42 EPS. As a group, equities research analysts forecast that SVB Financial Group will post 21.25 EPS for the current year.
In other news, insider Michael Descheneaux sold 3,000 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $201.19, for a total transaction of $603,570.00. Following the completion of the sale, the insider now directly owns 21,438 shares in the company, valued at approximately $4,313,111.22. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Philip C. Cox sold 197 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $227.45, for a total value of $44,807.65. Following the sale, the chief operating officer now directly owns 8,185 shares in the company, valued at $1,861,678.25. The disclosure for this sale can be found here. Insiders have sold 5,547 shares of company stock worth $1,189,038 over the last ninety days. Insiders own 0.73% of the company’s stock.
Several equities research analysts have issued reports on the company. Stephens reaffirmed a “buy” rating on shares of SVB Financial Group in a report on Friday, July 26th. Raymond James lowered shares of SVB Financial Group from a “strong-buy” rating to a “market perform” rating in a research report on Monday, July 8th. Piper Jaffray Companies set a $265.00 target price on shares of SVB Financial Group and gave the stock a “buy” rating in a research note on Friday, July 26th. Morgan Stanley decreased their price target on shares of SVB Financial Group from $310.00 to $280.00 and set an “overweight” rating on the stock in a research note on Monday, July 1st. Finally, Keefe, Bruyette & Woods lowered shares of SVB Financial Group from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $300.00 to $255.00 in a research note on Sunday, July 7th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $273.56.
About SVB Financial Group
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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