Appleton Partners Inc. MA grew its holdings in SVB Financial Group (NASDAQ:SIVB) by 3.6% in the third quarter, Holdings Channel.com reports. The firm owned 26,639 shares of the bank’s stock after purchasing an additional 924 shares during the period. Appleton Partners Inc. MA’s holdings in SVB Financial Group were worth $5,566,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Patriot Financial Group Insurance Agency LLC lifted its holdings in shares of SVB Financial Group by 3,733.3% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 115 shares of the bank’s stock valued at $25,000 after purchasing an additional 112 shares in the last quarter. Griffin Asset Management Inc. purchased a new stake in shares of SVB Financial Group in the second quarter valued at $28,000. Pearl River Capital LLC purchased a new stake in shares of SVB Financial Group in the second quarter valued at $30,000. Bray Capital Advisors purchased a new stake in shares of SVB Financial Group in the third quarter valued at $31,000. Finally, NEXT Financial Group Inc purchased a new stake in shares of SVB Financial Group in the second quarter valued at $33,000. Institutional investors own 91.48% of the company’s stock.
In other SVB Financial Group news, insider Marc C. Cadieux sold 1,000 shares of the firm’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $224.17, for a total transaction of $224,170.00. Following the transaction, the insider now directly owns 13,147 shares in the company, valued at $2,947,162.99. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Michael Descheneaux sold 2,500 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $236.12, for a total value of $590,300.00. Following the transaction, the insider now owns 21,938 shares in the company, valued at $5,180,000.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,348 shares of company stock worth $1,005,270. Corporate insiders own 0.73% of the company’s stock.
NASDAQ SIVB opened at $231.47 on Thursday. SVB Financial Group has a fifty-two week low of $177.70 and a fifty-two week high of $263.16. The stock’s 50-day moving average is $210.94 and its two-hundred day moving average is $216.87. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.66 and a quick ratio of 0.71. The firm has a market cap of $11.90 billion, a P/E ratio of 12.70, a price-to-earnings-growth ratio of 1.36 and a beta of 2.17.
SVB Financial Group (NASDAQ:SIVB) last posted its earnings results on Thursday, October 24th. The bank reported $5.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.99 by $0.16. SVB Financial Group had a return on equity of 20.38% and a net margin of 33.95%. The company had revenue of $814.65 million for the quarter, compared to analyst estimates of $805.27 million. During the same period last year, the company earned $5.10 earnings per share. The business’s revenue was up 15.8% compared to the same quarter last year. On average, equities analysts expect that SVB Financial Group will post 21.29 EPS for the current year.
Several brokerages recently issued reports on SIVB. JMP Securities cut their price objective on SVB Financial Group to $275.00 and set an “outperform” rating for the company in a report on Tuesday, July 30th. Maxim Group cut their price objective on SVB Financial Group from $300.00 to $275.00 and set a “buy” rating for the company in a report on Friday, October 25th. Wedbush increased their price objective on SVB Financial Group from $222.00 to $230.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Royal Bank of Canada set a $265.00 price objective on SVB Financial Group and gave the stock a “buy” rating in a report on Friday, October 25th. Finally, Stephens reiterated a “buy” rating and set a $250.00 price objective on shares of SVB Financial Group in a report on Tuesday, September 17th. Nine research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $260.38.
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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