Paloma Partners Management Co increased its position in shares of SVB Financial Group (NASDAQ:SIVB) by 231.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,715 shares of the bank’s stock after acquiring an additional 6,083 shares during the quarter. Paloma Partners Management Co’s holdings in SVB Financial Group were worth $2,037,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Lourd Capital LLC acquired a new stake in SVB Financial Group during the fourth quarter worth approximately $207,000. IPG Investment Advisors LLC acquired a new stake in SVB Financial Group during the fourth quarter worth approximately $213,000. Pinnacle Financial Partners Inc. acquired a new stake in SVB Financial Group during the fourth quarter worth approximately $214,000. MANA Advisors LLC acquired a new stake in SVB Financial Group during the fourth quarter worth approximately $215,000. Finally, Welch & Forbes LLC acquired a new stake in SVB Financial Group during the fourth quarter worth approximately $222,000. Hedge funds and other institutional investors own 89.65% of the company’s stock.
Shares of SIVB opened at $236.06 on Friday. The firm has a market capitalization of $12,736.38, a price-to-earnings ratio of 23.82, a P/E/G ratio of 1.57 and a beta of 1.44. SVB Financial Group has a fifty-two week low of $159.44 and a fifty-two week high of $271.79. 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 (NASDAQ:SIVB) last posted its earnings results on Thursday, January 25th. The bank reported $2.19 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.60 by ($0.41). The business had revenue of $545.97 million for the quarter, compared to analyst estimates of $523.45 million. SVB Financial Group had a net margin of 24.25% and a return on equity of 12.83%. During the same quarter in the previous year, the firm posted $1.89 EPS. sell-side analysts forecast that SVB Financial Group will post 13.95 earnings per share for the current fiscal year.
A number of analysts recently issued reports on the stock. Maxim Group restated a “buy” rating and set a $300.00 target price (up previously from $250.00) on shares of SVB Financial Group in a research report on Wednesday, January 10th. ValuEngine lowered shares of SVB Financial Group from a “buy” rating to a “hold” rating in a research report on Friday, March 23rd. Jefferies Group restated a “buy” rating on shares of SVB Financial Group in a research report on Friday, January 26th. Stephens restated a “buy” rating on shares of SVB Financial Group in a research report on Tuesday, March 20th. Finally, Barclays reiterated a “hold” rating and issued a $273.00 price target on shares of SVB Financial Group in a report on Sunday, January 28th. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. SVB Financial Group has an average rating of “Buy” and an average price target of $255.46.
In related news, insider Philip C. Cox sold 1,175 shares of SVB Financial Group stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $252.77, for a total transaction of $297,004.75. Following the transaction, the insider now owns 4,097 shares in the company, valued at approximately $1,035,598.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michelle Draper sold 2,510 shares of SVB Financial Group stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $248.95, for a total transaction of $624,864.50. Following the transaction, the insider now owns 7,879 shares in the company, valued at approximately $1,961,477.05. The disclosure for this sale can be found here. Insiders have sold a total of 11,213 shares of company stock worth $2,724,673 in the last 90 days. Company insiders own 0.74% of the company’s stock.
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SVB Financial Group Profile
SVB Financial Group, a diversified financial services company, provides various banking and financial products and services. Its Global Commercial Bank segment offers deposit products, such as business and analysis checking, money market, multi-currency, in-country bank, and sweep accounts, as well as merchant, remote capture, lockbox, electronic deposit capture, and fraud control services; credit products and services comprising term loans, equipment loans, asset-based loans, revolving lines of credit, accounts-receivable-based lines of credit, capital call lines of credit, and credit cards; and payment and cash management products and services, including wire transfer and automated clearing house payment, bill pay, debit card account analysis, and disbursement, as well as online and mobile banking services.
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