Huntington National Bank grew its position in SVB Financial Group (NASDAQ:SIVB) by 3.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,969 shares of the bank’s stock after acquiring an additional 590 shares during the quarter. Huntington National Bank’s holdings in SVB Financial Group were worth $4,668,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently added to or reduced their stakes in SIVB. Oakbrook Investments LLC boosted its holdings in SVB Financial Group by 84.3% during the 3rd quarter. Oakbrook Investments LLC now owns 4,100 shares of the bank’s stock valued at $767,000 after acquiring an additional 1,875 shares during the period. Strs Ohio boosted its holdings in SVB Financial Group by 4.3% during the 3rd quarter. Strs Ohio now owns 407,764 shares of the bank’s stock valued at $76,288,000 after acquiring an additional 16,811 shares during the period. California Public Employees Retirement System boosted its holdings in SVB Financial Group by 3.8% during the 3rd quarter. California Public Employees Retirement System now owns 139,055 shares of the bank’s stock valued at $26,016,000 after acquiring an additional 5,155 shares during the period. BNP Paribas Arbitrage SA boosted its holdings in SVB Financial Group by 37.7% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 42,877 shares of the bank’s stock valued at $8,022,000 after acquiring an additional 11,740 shares during the period. Finally, Wells Fargo & Company MN boosted its holdings in SVB Financial Group by 7.8% during the 3rd quarter. Wells Fargo & Company MN now owns 107,473 shares of the bank’s stock valued at $20,107,000 after acquiring an additional 7,783 shares during the period. 90.11% of the stock is currently owned by institutional investors and hedge funds.
In related news, insider Gregory W. Becker sold 4,500 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $243.49, for a total transaction of $1,095,705.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Eric Benhamou sold 2,000 shares of the company’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $226.01, for a total value of $452,020.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 17,186 shares of company stock valued at $4,057,749. Corporate insiders own 0.73% of the company’s stock.
A number of research firms recently issued reports on SIVB. Maxim Group restated a “buy” rating and set a $300.00 price objective (up previously from $250.00) on shares of SVB Financial Group in a report on Wednesday, January 10th. Barclays reiterated a “hold” rating and issued a $273.00 target price on shares of SVB Financial Group in a report on Sunday, January 28th. BidaskClub cut SVB Financial Group from a “strong-buy” rating to a “buy” rating in a report on Wednesday, January 31st. Stephens reiterated a “buy” rating on shares of SVB Financial Group in a report on Friday, January 26th. Finally, FIG Partners cut SVB Financial Group from an “outperform” rating to a “market perform” rating in a report on Friday, January 26th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $239.92.
SVB Financial Group (NASDAQ:SIVB) traded down $0.41 on Wednesday, hitting $239.45. The stock had a trading volume of 370,600 shares, compared to its average volume of 429,321. The company has a market cap of $12,673.05, a price-to-earnings ratio of 26.69, a price-to-earnings-growth ratio of 1.57 and a beta of 1.49. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.16. SVB Financial Group has a 52-week low of $159.44 and a 52-week high of $263.09.
SVB Financial Group (NASDAQ:SIVB) last released its quarterly earnings results on Thursday, January 25th. The bank reported $2.19 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.60 by ($0.41). The company had revenue of $545.97 million during the quarter, compared to the consensus estimate of $523.45 million. SVB Financial Group had a return on equity of 12.83% and a net margin of 24.25%. During the same period in the previous year, the firm posted $1.89 earnings per share. research analysts forecast that SVB Financial Group will post 13.85 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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