Gofen & Glossberg LLC IL raised its holdings in SVB Financial Group (NASDAQ:SIVB) by 2.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 22,460 shares of the bank’s stock after buying an additional 500 shares during the quarter. Gofen & Glossberg LLC IL’s holdings in SVB Financial Group were worth $5,250,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Toronto Dominion Bank lifted its position in shares of SVB Financial Group by 525.6% in the 2nd quarter. Toronto Dominion Bank now owns 782 shares of the bank’s stock worth $137,000 after acquiring an additional 657 shares during the period. TLP Group LLC lifted its position in shares of SVB Financial Group by 2,930.3% in the 2nd quarter. TLP Group LLC now owns 1,000 shares of the bank’s stock worth $176,000 after acquiring an additional 967 shares during the period. Green Square Capital LLC bought a new stake in shares of SVB Financial Group in the 3rd quarter worth approximately $206,000. Wade G W & Inc. bought a new stake in shares of SVB Financial Group in the 3rd quarter worth approximately $222,000. Finally, Raymond James Trust N.A. lifted its position in shares of SVB Financial Group by 0.3% in the 2nd quarter. Raymond James Trust N.A. now owns 1,474 shares of the bank’s stock worth $259,000 after acquiring an additional 4 shares during the period. 91.71% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Gregory W. Becker sold 9,511 shares of the firm’s stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $232.68, for a total transaction of $2,213,019.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 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 value of $636,378.00. Following the sale, the insider now directly owns 890 shares of the company’s stock, valued at $195,978. The disclosure for this sale can be found here. Insiders have sold a total of 20,291 shares of company stock valued at $4,558,918 in the last 90 days. 0.73% of the stock is owned by corporate insiders.
SIVB has been the subject of a number of research reports. Maxim Group reiterated a “buy” rating and issued a $300.00 price objective (up previously from $250.00) on shares of SVB Financial Group in a research report on Wednesday, January 10th. ValuEngine downgraded SVB Financial Group from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Zacks Investment Research upgraded SVB Financial Group from a “hold” rating to a “buy” rating and set a $271.00 price objective for the company in a research report on Wednesday, December 27th. Barclays raised their price objective on SVB Financial Group from $217.00 to $251.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 2nd. Finally, Wells Fargo & Co reiterated an “outperform” rating and issued a $240.00 price objective (up previously from $215.00) on shares of SVB Financial Group in a research report on Thursday, November 9th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $229.29.
SVB Financial Group (NASDAQ:SIVB) opened at $251.70 on Wednesday. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $13,270.00, a P/E ratio of 28.28, a P/E/G ratio of 1.73 and a beta of 1.62. SVB Financial Group has a 52-week low of $159.44 and a 52-week high of $257.24.
SVB Financial Group (NASDAQ:SIVB) last posted its earnings results on Thursday, October 26th. The bank reported $2.79 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.29 by $0.50. The business had revenue of $533.40 million during the quarter, compared to the consensus estimate of $490.56 million. SVB Financial Group had a return on equity of 11.88% and a net margin of 25.07%. SVB Financial Group’s revenue was up 23.0% on a year-over-year basis. During the same quarter last year, the company earned $2.12 EPS. analysts forecast that SVB Financial Group will post 9.47 earnings per share for the current fiscal year.
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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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