Beacon Investment Advisory Services Inc. bought a new position in shares of SVB Financial Group (NASDAQ:SIVB) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,490 shares of the bank’s stock, valued at approximately $279,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Daiwa Securities Group Inc. acquired a new stake in SVB Financial Group in the second quarter valued at about $264,000. TD Asset Management Inc. acquired a new stake in SVB Financial Group in the second quarter valued at about $221,000. Pictet Asset Management Ltd. acquired a new stake in SVB Financial Group in the second quarter valued at about $3,137,000. Global X Management Co. LLC lifted its position in SVB Financial Group by 58.6% in the second quarter. Global X Management Co. LLC now owns 782 shares of the bank’s stock valued at $137,000 after purchasing an additional 289 shares during the period. Finally, Canada Pension Plan Investment Board lifted its position in SVB Financial Group by 37.1% in the second quarter. Canada Pension Plan Investment Board now owns 18,100 shares of the bank’s stock valued at $3,182,000 after purchasing an additional 4,900 shares during the period. Institutional investors and hedge funds own 91.77% of the company’s stock.
Shares of SVB Financial Group (NASDAQ:SIVB) opened at $231.29 on Thursday. SVB Financial Group has a 12-month low of $159.44 and a 12-month high of $236.86. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.59 and a current ratio of 0.59. The stock has a market cap of $12,256.42, a P/E ratio of 26.08, a PEG ratio of 2.22 and a beta of 1.62.
SVB Financial Group (NASDAQ:SIVB) last posted its quarterly earnings results on Thursday, October 26th. The bank reported $2.79 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.29 by $0.50. SVB Financial Group had a net margin of 25.07% and a return on equity of 11.88%. The company had revenue of $533.40 million during the quarter, compared to the consensus estimate of $490.56 million. During the same period last year, the firm earned $2.12 EPS. The company’s revenue for the quarter was up 23.0% on a year-over-year basis. sell-side analysts anticipate that SVB Financial Group will post 9.51 earnings per share for the current year.
In other news, insider Marc C. Cadieux sold 2,260 shares of SVB Financial Group stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $219.34, for a total transaction of $495,708.40. Following the completion of the sale, the insider now directly owns 15,971 shares in the company, valued at approximately $3,503,079.14. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Kamran F. Husain sold 2,890 shares of the firm’s 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 transaction, the insider now directly owns 890 shares of the company’s stock, valued at $195,978. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,291 shares of company stock valued at $4,558,918. Insiders own 0.73% of the company’s stock.
A number of equities research analysts recently commented on the stock. ValuEngine downgraded shares of SVB Financial Group from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Zacks Investment Research downgraded shares of SVB Financial Group from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. Morgan Stanley restated an “overweight” rating and issued a $213.00 price objective (up previously from $210.00) on shares of SVB Financial Group in a research report on Wednesday, October 4th. Maxim Group restated a “buy” rating and issued a $250.00 price objective (up previously from $220.00) on shares of SVB Financial Group in a research report on Monday, October 30th. Finally, Barclays set a $217.00 price objective on shares of SVB Financial Group and gave the company a “hold” rating in a research report on Monday, October 30th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $216.21.
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SVB Financial Group Company Profile
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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