Fisher Asset Management LLC cut its holdings in SVB Financial Group (NASDAQ:SIVB) by 5.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,328,087 shares of the bank’s stock after selling 82,526 shares during the period. Fisher Asset Management LLC owned about 2.51% of SVB Financial Group worth $318,754,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of the business. Suntrust Banks Inc. increased its position in shares of SVB Financial Group by 2.2% during the fourth quarter. Suntrust Banks Inc. now owns 20,453 shares of the bank’s stock worth $4,780,000 after purchasing an additional 432 shares in the last quarter. Barometer Capital Management Inc. acquired a new stake in shares of SVB Financial Group during the fourth quarter worth about $10,987,000. Driehaus Capital Management LLC increased its position in shares of SVB Financial Group by 133.5% during the fourth quarter. Driehaus Capital Management LLC now owns 8,174 shares of the bank’s stock worth $1,911,000 after purchasing an additional 4,674 shares in the last quarter. Two Sigma Advisers LP increased its position in shares of SVB Financial Group by 1.5% during the fourth quarter. Two Sigma Advisers LP now owns 168,502 shares of the bank’s stock worth $39,391,000 after purchasing an additional 2,477 shares in the last quarter. Finally, Quantitative Systematic Strategies LLC acquired a new stake in shares of SVB Financial Group during the fourth quarter worth about $226,000. Institutional investors own 89.61% of the company’s stock.
In other SVB Financial Group news, insider Michael Descheneaux sold 2,750 shares of SVB Financial Group stock in a transaction that occurred on Tuesday, May 8th. The stock was sold at an average price of $309.05, for a total value of $849,887.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Philip C. Cox sold 1,028 shares of SVB Financial Group stock in a transaction that occurred on Tuesday, May 1st. The shares were sold at an average price of $303.00, for a total value of $311,484.00. Following the completion of the sale, the insider now directly owns 6,048 shares in the company, valued at approximately $1,832,544. The disclosure for this sale can be found here. Insiders sold a total of 8,306 shares of company stock worth $2,349,040 in the last ninety days. 0.74% of the stock is owned by corporate insiders.
A number of analysts have recently commented on the company. Barclays reiterated a “hold” rating and set a $273.00 target price on shares of SVB Financial Group in a research report on Sunday, January 28th. BidaskClub cut SVB Financial Group from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 31st. DA Davidson raised their price target on SVB Financial Group from $285.00 to $315.00 and gave the stock a “neutral” rating in a report on Monday, April 30th. Morgan Stanley raised their price target on SVB Financial Group from $275.00 to $280.00 and gave the stock an “overweight” rating in a report on Wednesday, January 31st. Finally, UBS initiated coverage on SVB Financial Group in a report on Thursday, March 22nd. They set a “buy” rating and a $284.00 price target on the stock. Three analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. SVB Financial Group currently has a consensus rating of “Buy” and a consensus target price of $306.29.
NASDAQ SIVB opened at $319.46 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.59 and a current ratio of 0.59. SVB Financial Group has a 52-week low of $159.44 and a 52-week high of $327.91. The stock has a market cap of $17.07 billion, a P/E ratio of 32.24, a P/E/G ratio of 1.84 and a beta of 1.41.
SVB Financial Group (NASDAQ:SIVB) last announced its quarterly earnings data on Thursday, April 26th. The bank reported $3.63 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.13 by $0.50. SVB Financial Group had a return on equity of 14.53% and a net margin of 26.89%. The company had revenue of $575.38 million for the quarter, compared to analyst estimates of $535.60 million. During the same quarter in the previous year, the company earned $1.91 EPS. analysts predict that SVB Financial Group will post 15.91 earnings per share for the current fiscal year.
SVB Financial Group Profile
SVB Financial Group, a diversified financial services company, provides various banking and financial products and services. Its 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 card account analysis, and disbursement, as well as online and mobile banking services.
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