BT Investment Management Ltd bought a new stake in shares of SVB Financial Group (NASDAQ:SIVB) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 4,174 shares of the bank’s stock, valued at approximately $734,000.
Other institutional investors also recently added to or reduced their stakes in the company. Credit Agricole S A increased its stake in SVB Financial Group by 924.5% during the 1st quarter. Credit Agricole S A now owns 1,128,284 shares of the bank’s stock valued at $44,547,000 after buying an additional 1,018,151 shares during the period. Comerica Bank increased its stake in SVB Financial Group by 0.9% during the 2nd quarter. Comerica Bank now owns 42,407 shares of the bank’s stock valued at $7,560,000 after buying an additional 365 shares during the period. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in SVB Financial Group during the 2nd quarter valued at about $26,296,000. Principal Financial Group Inc. increased its stake in SVB Financial Group by 6.8% during the 2nd quarter. Principal Financial Group Inc. now owns 223,271 shares of the bank’s stock valued at $39,249,000 after buying an additional 14,145 shares during the period. Finally, Synovus Financial Corp increased its stake in SVB Financial Group by 14.4% during the 2nd quarter. Synovus Financial Corp now owns 7,139 shares of the bank’s stock valued at $1,253,000 after buying an additional 897 shares during the period. 92.10% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Eric Benhamou sold 2,000 shares of the company’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $172.01, for a total value of $344,020.00. Following the completion of the sale, the director now directly owns 6,672 shares of the company’s stock, valued at approximately $1,147,650.72. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Michael Descheneaux sold 3,500 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $182.07, for a total value of $637,245.00. Following the completion of the sale, the insider now directly owns 14,064 shares of the company’s stock, valued at $2,560,632.48. The disclosure for this sale can be found here. Insiders have sold a total of 8,524 shares of company stock valued at $1,534,052 over the last three months. Company insiders own 0.73% of the company’s stock.
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SVB Financial Group (SIVB) opened at 177.22 on Thursday. The company has a market cap of $9.34 billion, a price-to-earnings ratio of 21.54 and a beta of 1.61. SVB Financial Group has a 52-week low of $104.84 and a 52-week high of $198.83. The stock’s 50 day moving average is $172.02 and its 200 day moving average is $178.69.
SVB Financial Group (NASDAQ:SIVB) last announced its quarterly earnings data on Thursday, July 27th. The bank reported $2.32 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.05 by $0.27. The firm had revenue of $471.70 million during the quarter, compared to analysts’ expectations of $451.96 million. SVB Financial Group had a return on equity of 11.27% and a net margin of 24.36%. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.78 EPS. Equities research analysts forecast that SVB Financial Group will post $8.99 earnings per share for the current year.
Several research firms have commented on SIVB. ValuEngine raised shares of SVB Financial Group from a “hold” rating to a “buy” rating in a research note on Thursday, August 17th. Jefferies Group LLC reissued a “buy” rating and set a $216.00 target price on shares of SVB Financial Group in a research note on Friday, August 11th. Maxim Group raised their target price on shares of SVB Financial Group from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Monday, July 31st. BidaskClub cut shares of SVB Financial Group from a “buy” rating to a “hold” rating in a research note on Sunday, July 30th. Finally, Stephens reissued a “buy” rating and set a $205.00 target price on shares of SVB Financial Group in a research note on Friday, July 28th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $202.75.
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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