First Trust Advisors LP raised its position in SVB Financial Group (NASDAQ:SIVB) by 24.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 156,243 shares of the bank’s stock after buying an additional 30,607 shares during the quarter. First Trust Advisors LP owned approximately 0.30% of SVB Financial Group worth $36,525,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of SIVB. Harding Loevner LP lifted its stake in SVB Financial Group by 209.0% in the third quarter. Harding Loevner LP now owns 4,817,712 shares of the bank’s stock valued at $284,617,000 after buying an additional 3,258,700 shares during the last quarter. CI Investments Inc. purchased a new stake in SVB Financial Group in the third quarter valued at approximately $95,902,000. Bank of New York Mellon Corp lifted its stake in SVB Financial Group by 29.1% in the third quarter. Bank of New York Mellon Corp now owns 1,618,179 shares of the bank’s stock valued at $302,746,000 after buying an additional 364,303 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in SVB Financial Group by 16.6% in the third quarter. JPMorgan Chase & Co. now owns 2,489,781 shares of the bank’s stock valued at $464,570,000 after buying an additional 354,948 shares during the last quarter. Finally, Prudential Financial Inc. lifted its stake in SVB Financial Group by 778.6% in the third quarter. Prudential Financial Inc. now owns 291,144 shares of the bank’s stock valued at $54,470,000 after buying an additional 258,006 shares during the last quarter. Institutional investors own 88.49% of the company’s stock.
A number of equities research analysts have weighed in on the company. BidaskClub cut SVB Financial Group from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 31st. SunTrust Banks restated a “buy” rating and set a $245.00 price target on shares of SVB Financial Group in a research note on Friday, November 17th. FIG Partners cut SVB Financial Group from an “outperform” rating to a “market perform” rating in a research note on Friday, January 26th. Wells Fargo & Co restated an “outperform” rating and set a $280.00 price target (up previously from $240.00) on shares of SVB Financial Group in a research note on Tuesday, January 9th. Finally, Morgan Stanley upped their price target on SVB Financial Group from $275.00 to $280.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 31st. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. SVB Financial Group currently has a consensus rating of “Buy” and an average target price of $239.92.
Shares of SVB Financial Group (NASDAQ:SIVB) opened at $248.81 on Tuesday. SVB Financial Group has a 52 week low of $159.44 and a 52 week high of $263.09. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $13,145.92, a P/E ratio of 25.11, a PEG ratio of 1.63 and a beta of 1.49.
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). SVB Financial Group had a return on equity of 12.83% and a net margin of 24.25%. The company had revenue of $545.97 million for the quarter, compared to analysts’ expectations of $523.45 million. During the same quarter last year, the company earned $1.89 EPS. research analysts forecast that SVB Financial Group will post 13.85 EPS for the current fiscal year.
In other SVB Financial Group news, insider Gregory W. Becker sold 9,511 shares of the stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $232.68, for a total value of $2,213,019.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Eric Benhamou sold 2,000 shares of the stock in a transaction on Friday, December 1st. The stock was 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. Insiders sold 17,186 shares of company stock valued at $4,057,749 in the last quarter. 0.73% of the stock is currently owned by company insiders.
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SVB Financial Group 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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