JPMorgan Chase & Co. raised its holdings in SVB Financial Group (NASDAQ:SIVB) by 1.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,431,505 shares of the bank’s stock after buying an additional 30,143 shares during the quarter. JPMorgan Chase & Co. owned about 4.60% of SVB Financial Group worth $583,583,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of SIVB. Schwab Charles Investment Management Inc. grew its position in shares of SVB Financial Group by 4.0% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 200,225 shares of the bank’s stock worth $46,807,000 after buying an additional 7,742 shares during the last quarter. State of Alaska Department of Revenue grew its position in shares of SVB Financial Group by 176.7% in the 4th quarter. State of Alaska Department of Revenue now owns 6,045 shares of the bank’s stock worth $1,412,000 after buying an additional 3,860 shares during the last quarter. First Manhattan Co. grew its position in shares of SVB Financial Group by 10.3% in 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. SG Americas Securities LLC grew its position in shares of SVB Financial Group by 932.4% in the 4th quarter. SG Americas Securities LLC now owns 9,684 shares of the bank’s stock worth $2,264,000 after buying an additional 8,746 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in shares of SVB Financial Group in the 4th quarter worth approximately $4,447,000. Hedge funds and other institutional investors own 89.61% of the company’s stock.
A number of research analysts have recently commented on the company. Zacks Investment Research upgraded SVB Financial Group from a “hold” rating to a “strong-buy” rating and set a $345.00 target price for the company in a research note on Wednesday, May 2nd. Morgan Stanley raised their target price on SVB Financial Group from $280.00 to $335.00 and gave the company an “overweight” rating in a research note on Monday, April 30th. SunTrust Banks raised their target price on SVB Financial Group to $335.00 and gave the company a “buy” rating in a research note on Monday, April 30th. Maxim Group raised their target price on SVB Financial Group from $300.00 to $350.00 and gave the company a “buy” rating in a research note on Monday, April 30th. They noted that the move was a valuation call. Finally, DA Davidson raised their target price on SVB Financial Group from $285.00 to $315.00 and gave the company a “neutral” rating in a research note on Monday, April 30th. Three research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company’s stock. SVB Financial Group presently has an average rating of “Buy” and an average target price of $306.29.
In other SVB Financial Group news, insider Philip C. Cox sold 1,028 shares of SVB Financial Group stock in a transaction on Tuesday, May 1st. The stock was sold at an average price of $303.00, for a total transaction of $311,484.00. Following the completion of the transaction, the insider now owns 6,048 shares in the company, valued at $1,832,544. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kamran F. Husain sold 1,500 shares of SVB Financial Group stock in a transaction on Thursday, May 10th. The shares were sold at an average price of $320.38, for a total value of $480,570.00. Following the transaction, the insider now owns 1,066 shares of the company’s stock, valued at approximately $341,525.08. The disclosure for this sale can be found here. Insiders have sold 8,306 shares of company stock valued at $2,349,040 in the last quarter. 0.74% of the stock is owned by company insiders.
Shares of SVB Financial Group opened at $319.46 on Friday, Marketbeat.com reports. The firm has a market cap of $17.07 billion, a price-to-earnings ratio of 27.71, a P/E/G ratio of 1.84 and a beta of 1.41. SVB Financial Group has a 12-month low of $159.44 and a 12-month high of $327.91. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.59 and a quick ratio of 0.59.
SVB Financial Group (NASDAQ:SIVB) last announced its quarterly earnings data on Thursday, April 26th. The bank reported $3.63 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.13 by $0.50. The business had revenue of $575.38 million during 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 quarter in the previous year, the business earned $1.91 earnings per share. research analysts anticipate that SVB Financial Group will post 15.91 EPS for the current year.
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.
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