Neuberger Berman Group LLC boosted its position in SVB Financial Group (NASDAQ:SIVB) by 3.8% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 661,250 shares of the bank’s stock after purchasing an additional 24,348 shares during the period. Neuberger Berman Group LLC owned about 1.28% of SVB Financial Group worth $142,501,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of SVB Financial Group by 26.5% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 8,888 shares of the bank’s stock worth $1,915,000 after purchasing an additional 1,861 shares during the period. Swedbank raised its holdings in SVB Financial Group by 34.7% during the first quarter. Swedbank now owns 691,938 shares of the bank’s stock worth $104,538,000 after buying an additional 178,400 shares during the last quarter. AQR Capital Management LLC increased its position in shares of SVB Financial Group by 17.3% during the first quarter. AQR Capital Management LLC now owns 368,722 shares of the bank’s stock worth $55,707,000 after acquiring an additional 54,374 shares in the last quarter. Hexavest Inc. bought a new position in shares of SVB Financial Group during the 2nd quarter worth approximately $12,241,000. Finally, State of Alaska Department of Revenue raised its holdings in shares of SVB Financial Group by 87.4% in the 2nd quarter. State of Alaska Department of Revenue now owns 16,619 shares of the bank’s stock worth $3,581,000 after purchasing an additional 7,750 shares during the period. Institutional investors own 90.04% of the company’s stock.
In other news, insider Christopher Edmonds-Waters sold 804 shares of the company’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $219.05, for a total transaction of $176,116.20. Following the transaction, the insider now owns 4,804 shares of the company’s stock, valued at $1,052,316.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO Michelle Draper sold 213 shares of the firm’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $223.66, for a total value of $47,639.58. Following the completion of the transaction, the chief marketing officer now owns 4,411 shares in the company, valued at approximately $986,564.26. The disclosure for this sale can be found here. Insiders have sold a total of 26,291 shares of company stock valued at $5,903,376 in the last quarter. 0.78% of the stock is currently owned by corporate insiders.
A number of equities research analysts recently commented on the stock. Zacks Investment Research lowered shares of SVB Financial Group from a “buy” rating to a “hold” rating and set a $219.00 price target for the company. in a report on Friday, July 3rd. Morgan Stanley boosted their price target on SVB Financial Group from $260.00 to $275.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 4th. Raymond James raised their price target on SVB Financial Group from $260.00 to $297.00 and gave the stock an “outperform” rating in a research note on Thursday, September 3rd. Barclays upped their price target on SVB Financial Group from $214.00 to $250.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Finally, Maxim Group restated a “buy” rating and set a $240.00 target price on shares of SVB Financial Group in a research report on Friday, May 29th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $235.88.
SIVB stock traded up $1.38 during mid-day trading on Wednesday, hitting $249.61. The stock had a trading volume of 14,250 shares, compared to its average volume of 497,204. SVB Financial Group has a 1-year low of $127.39 and a 1-year high of $270.95. The company has a fifty day moving average of $244.65 and a 200 day moving average of $204.49. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $12.85 billion, a price-to-earnings ratio of 14.59, a PEG ratio of 2.16 and a beta of 2.22.
SVB Financial Group (NASDAQ:SIVB) last posted its quarterly earnings results on Thursday, July 23rd. The bank reported $4.42 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.96 by $1.46. The firm had revenue of $881.78 million for the quarter, compared to the consensus estimate of $757.21 million. SVB Financial Group had a net margin of 25.26% and a return on equity of 13.61%. During the same quarter in the previous year, the company earned $6.08 earnings per share. As a group, sell-side analysts expect that SVB Financial Group will post 14.4 earnings per share for the current fiscal year.
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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