M&T Bank Corp Has $835,000 Position in SVB Financial Group (SIVB)

M&T Bank Corp lowered its holdings in SVB Financial Group (NASDAQ:SIVB) by 7.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,479 shares of the bank’s stock after selling 265 shares during the period. M&T Bank Corp’s holdings in SVB Financial Group were worth $835,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in SVB Financial Group by 2.7% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 7,252 shares of the bank’s stock valued at $1,741,000 after purchasing an additional 189 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in SVB Financial Group by 25.9% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,012 shares of the bank’s stock worth $237,000 after buying an additional 208 shares during the last quarter. California State Teachers Retirement System lifted its holdings in SVB Financial Group by 0.3% during the 4th quarter. California State Teachers Retirement System now owns 87,237 shares of the bank’s stock worth $20,393,000 after buying an additional 240 shares during the last quarter. Advisor Group Inc. lifted its holdings in SVB Financial Group by 14.6% during the 4th quarter. Advisor Group Inc. now owns 1,909 shares of the bank’s stock worth $447,000 after buying an additional 243 shares during the last quarter. Finally, First Manhattan Co. lifted its holdings in SVB Financial Group by 10.3% during the 4th quarter. First Manhattan Co. now owns 2,675 shares of the bank’s stock worth $625,000 after buying an additional 250 shares during the last quarter. 89.61% of the stock is owned by hedge funds and other institutional investors.

Shares of SVB Financial Group opened at $322.20 on Tuesday, Marketbeat.com reports. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.59 and a current ratio of 0.59. The company has a market cap of $17.05 billion, a PE ratio of 32.51, a P/E/G ratio of 1.84 and a beta of 1.41. SVB Financial Group has a twelve month low of $159.44 and a twelve month high of $326.23.

SVB Financial Group (NASDAQ:SIVB) last announced its quarterly earnings results on Thursday, April 26th. The bank reported $3.63 earnings per share for the quarter, topping analysts’ consensus estimates of $3.13 by $0.50. The business had revenue of $575.38 million for the quarter, compared to analysts’ expectations of $535.60 million. SVB Financial Group had a return on equity of 14.53% and a net margin of 26.89%. During the same period in the prior year, the firm earned $1.91 EPS. research analysts expect that SVB Financial Group will post 15.91 EPS for the current year.

A number of research analysts have commented on the company. ValuEngine raised SVB Financial Group from a “hold” rating to a “buy” rating in a report on Friday, April 27th. Maxim Group increased their target price on SVB Financial Group from $300.00 to $350.00 and gave the stock a “buy” rating in a report on Monday, April 30th. They noted that the move was a valuation call. Wedbush increased their target price on SVB Financial Group from $263.00 to $315.00 and gave the stock a “neutral” rating in a report on Friday, April 27th. JMP Securities increased their target price on SVB Financial Group from $290.00 to $345.00 and gave the stock a “market outperform” rating in a report on Monday, April 30th. Finally, DA Davidson increased their target price on SVB Financial Group from $285.00 to $315.00 and gave the stock a “neutral” rating in a report on Monday, April 30th. Three research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. SVB Financial Group currently has an average rating of “Buy” and a consensus target price of $306.29.

In other news, insider Gregory W. Becker sold 3,028 shares of the stock in a transaction that occurred on Wednesday, April 4th. The stock was sold at an average price of $233.52, for a total transaction of $707,098.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Michael Descheneaux sold 2,750 shares of the stock in a transaction that occurred on Tuesday, May 8th. The stock was sold at an average price of $309.05, for a total value of $849,887.50. The disclosure for this sale can be found here. Insiders have sold a total of 8,306 shares of company stock worth $2,349,040 over the last quarter. Insiders own 0.74% of the company’s stock.

SVB Financial Group Company 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.

Want to see what other hedge funds are holding SIVB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SVB Financial Group (NASDAQ:SIVB).

Institutional Ownership by Quarter for SVB Financial Group (NASDAQ:SIVB)

Receive News & Ratings for SVB Financial Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SVB Financial Group and related companies with MarketBeat.com's FREE daily email newsletter.




Leave a Reply