New York State Common Retirement Fund increased its position in shares of SVB Financial Group (NASDAQ:SIVB) by 0.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 163,538 shares of the bank’s stock after acquiring an additional 1,500 shares during the quarter. New York State Common Retirement Fund owned approximately 0.31% of SVB Financial Group worth $30,596,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in SIVB. Shell Asset Management Co. boosted its position in SVB Financial Group by 89.8% during the second quarter. Shell Asset Management Co. now owns 3,638 shares of the bank’s stock worth $640,000 after acquiring an additional 1,721 shares during the last quarter. Great West Life Assurance Co. Can boosted its position in SVB Financial Group by 36.2% during the second quarter. Great West Life Assurance Co. Can now owns 49,517 shares of the bank’s stock worth $8,696,000 after acquiring an additional 13,164 shares during the last quarter. Daiwa Securities Group Inc. acquired a new stake in SVB Financial Group during the second quarter worth approximately $264,000. Korea Investment CORP acquired a new stake in SVB Financial Group during the second quarter worth approximately $3,041,000. Finally, TD Asset Management Inc. acquired a new stake in SVB Financial Group during the second quarter worth approximately $221,000. Hedge funds and other institutional investors own 91.77% of the company’s stock.
In other SVB Financial Group news, insider Gregory W. Becker sold 9,511 shares of SVB Financial Group stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $232.68, for a total value of $2,213,019.48. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Kamran F. Husain sold 2,890 shares of the firm’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $220.20, for a total transaction of $636,378.00. Following the completion of the transaction, the insider now directly owns 890 shares in the company, valued at approximately $195,978. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,291 shares of company stock worth $4,558,918. 0.73% of the stock is owned by company insiders.
SVB Financial Group (NASDAQ SIVB) opened at $232.27 on Friday. The firm has a market cap of $12,119.29, a price-to-earnings ratio of 25.79, a price-to-earnings-growth ratio of 2.20 and a beta of 1.62. SVB Financial Group has a 1-year low of $159.44 and a 1-year high of $236.18. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.18.
SVB Financial Group (NASDAQ:SIVB) last announced its quarterly earnings results on Thursday, October 26th. The bank reported $2.79 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.29 by $0.50. The company had revenue of $533.40 million for the quarter, compared to analyst estimates of $490.56 million. SVB Financial Group had a net margin of 25.07% and a return on equity of 11.88%. SVB Financial Group’s revenue for the quarter was up 23.0% on a year-over-year basis. During the same quarter last year, the business earned $2.12 EPS. equities research analysts expect that SVB Financial Group will post 9.51 earnings per share for the current year.
A number of brokerages recently issued reports on SIVB. ValuEngine lowered shares of SVB Financial Group from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. SunTrust Banks restated a “buy” rating and set a $245.00 target price on shares of SVB Financial Group in a research report on Friday, November 17th. Zacks Investment Research lowered shares of SVB Financial Group from a “buy” rating to a “hold” rating in a research report on Monday, November 13th. Wells Fargo & Company restated an “outperform” rating and set a $240.00 target price (up previously from $215.00) on shares of SVB Financial Group in a research report on Thursday, November 9th. Finally, Barclays set a $217.00 target price on shares of SVB Financial Group and gave the stock 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’s stock. SVB Financial Group presently has a consensus rating of “Buy” and an average 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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