BT Investment Management Ltd increased its stake in shares of SVB Financial Group (NASDAQ:SIVB) by 67.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,003 shares of the bank’s stock after buying an additional 2,829 shares during the period. BT Investment Management Ltd’s holdings in SVB Financial Group were worth $1,310,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. BlackRock Inc. lifted its position in SVB Financial Group by 16.5% during the 2nd quarter. BlackRock Inc. now owns 5,287,595 shares of the bank’s stock worth $929,507,000 after buying an additional 748,591 shares in the last quarter. Vanguard Group Inc. lifted its position in SVB Financial Group by 4.1% during the 2nd quarter. Vanguard Group Inc. now owns 4,376,567 shares of the bank’s stock worth $769,356,000 after buying an additional 170,941 shares in the last quarter. State Street Corp raised its holdings in SVB Financial Group by 13.5% during the 2nd quarter. State Street Corp now owns 2,433,130 shares of the bank’s stock worth $427,721,000 after purchasing an additional 288,697 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in SVB Financial Group by 41.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,134,833 shares of the bank’s stock worth $375,282,000 after purchasing an additional 629,917 shares during the last quarter. Finally, Capital Research Global Investors raised its holdings in SVB Financial Group by 2.2% during the 2nd quarter. Capital Research Global Investors now owns 2,106,730 shares of the bank’s stock worth $370,342,000 after purchasing an additional 45,620 shares during the last quarter. Institutional investors and hedge funds own 92.13% of the company’s stock.
Shares of SVB Financial Group (NASDAQ:SIVB) opened at $209.56 on Thursday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.59 and a quick ratio of 0.60. The company has a market capitalization of $11,338.75, a PE ratio of 24.14, a PEG ratio of 2.06 and a beta of 1.64. SVB Financial Group has a 52 week low of $121.12 and a 52 week high of $223.82.
SVB Financial Group (NASDAQ:SIVB) last announced its quarterly earnings results on Thursday, October 26th. The bank reported $2.79 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $533.40 million during the quarter, compared to analysts’ expectations of $490.56 million. During the same period in the prior year, the business posted $2.12 EPS. SVB Financial Group’s revenue was up 23.0% on a year-over-year basis. sell-side analysts predict that SVB Financial Group will post 9.5 earnings per share for the current year.
Several brokerages have weighed in on SIVB. Wells Fargo & Company reissued an “outperform” rating and set a $240.00 price objective (up from $215.00) on shares of SVB Financial Group in a report on Thursday. Zacks Investment Research raised SVB Financial Group from a “hold” rating to a “buy” rating and set a $247.00 price objective for the company in a report on Tuesday, October 31st. Barclays PLC set a $217.00 price objective on SVB Financial Group and gave the stock a “hold” rating in a report on Monday, October 30th. Maxim Group reissued a “buy” rating and set a $250.00 price objective (up from $220.00) on shares of SVB Financial Group in a report on Monday, October 30th. Finally, Morgan Stanley reissued an “overweight” rating and set a $213.00 price objective (up from $210.00) on shares of SVB Financial Group in a report on Wednesday, October 4th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $214.00.
In related news, insider Kamran F. Husain sold 2,890 shares of the stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $220.20, for a total transaction of $636,378.00. Following the completion of the sale, the insider now directly owns 890 shares of the company’s stock, valued at approximately $195,978. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Marc C. Cadieux sold 2,260 shares of the stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $219.34, for a total value of $495,708.40. Following the sale, the insider now directly owns 15,971 shares of the company’s stock, valued at $3,503,079.14. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,150 shares of company stock valued at $1,476,106. 0.73% of the stock is owned by company insiders.
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About SVB Financial Group
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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