Nicholas Investment Partners LP decreased its stake in shares of SVB Financial Group (NASDAQ:SIVB) by 45.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,295 shares of the bank’s stock after selling 12,122 shares during the quarter. Nicholas Investment Partners LP’s holdings in SVB Financial Group were worth $2,513,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in the business. Raymond James Trust N.A. raised its stake in SVB Financial Group by 0.3% during the second quarter. Raymond James Trust N.A. now owns 1,474 shares of the bank’s stock valued at $259,000 after buying an additional 4 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in SVB Financial Group by 0.3% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,661 shares of the bank’s stock valued at $1,347,000 after buying an additional 20 shares during the last quarter. Teacher Retirement System of Texas raised its stake in SVB Financial Group by 1.8% during the first quarter. Teacher Retirement System of Texas now owns 4,130 shares of the bank’s stock valued at $769,000 after buying an additional 75 shares during the last quarter. Pacer Advisors Inc. raised its stake in SVB Financial Group by 9.2% during the second quarter. Pacer Advisors Inc. now owns 1,031 shares of the bank’s stock valued at $181,000 after buying an additional 87 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its stake in SVB Financial Group by 11.7% during the first quarter. Nomura Asset Management Co. Ltd. now owns 860 shares of the bank’s stock valued at $160,000 after buying an additional 90 shares during the last quarter. Institutional investors and hedge funds own 92.10% of the company’s stock.
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In other news, Director Eric Benhamou sold 2,000 shares of the stock in a transaction on Friday, September 1st. The stock was sold at an average price of $172.01, for a total transaction of $344,020.00. Following the completion of the sale, the director now owns 6,672 shares in the company, valued at approximately $1,147,650.72. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Philip C. Cox sold 3,024 shares of the stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $182.80, for a total value of $552,787.20. Following the sale, the insider now owns 2,872 shares of the company’s stock, valued at approximately $525,001.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 8,524 shares of company stock valued at $1,534,052. Company insiders own 0.73% of the company’s stock.
SVB Financial Group (NASDAQ:SIVB) opened at 177.22 on Thursday. The stock has a 50 day moving average price of $172.02 and a 200 day moving average price of $178.69. SVB Financial Group has a 1-year low of $104.84 and a 1-year high of $198.83. The stock has a market cap of $9.34 billion, a PE ratio of 21.54 and a beta of 1.61.
SVB Financial Group (NASDAQ:SIVB) last issued its quarterly earnings data on Thursday, July 27th. The bank reported $2.32 EPS for the quarter, beating the consensus estimate of $2.05 by $0.27. SVB Financial Group had a return on equity of 11.27% and a net margin of 24.36%. The firm had revenue of $471.70 million during the quarter, compared to analyst estimates of $451.96 million. During the same quarter in the prior year, the business posted $1.78 EPS. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, analysts predict that SVB Financial Group will post $8.99 EPS for the current fiscal year.
A number of research analysts have issued reports on SIVB shares. Morgan Stanley lifted their price objective on SVB Financial Group from $208.00 to $210.00 and gave the company an “overweight” rating in a research note on Tuesday, June 6th. Jefferies Group LLC reiterated a “buy” rating and set a $216.00 price objective on shares of SVB Financial Group in a research note on Sunday, June 11th. BidaskClub upgraded SVB Financial Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 14th. Wedbush reiterated a “neutral” rating and set a $192.00 price objective on shares of SVB Financial Group in a research note on Tuesday, June 27th. Finally, Zacks Investment Research upgraded SVB Financial Group from a “hold” rating to a “buy” rating and set a $197.00 price objective for the company in a research note on Tuesday, July 4th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $202.75.
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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