Pinnacle Financial Partners Inc. Raises Position in SVB Financial Group (SIVB)

Pinnacle Financial Partners Inc. increased its holdings in SVB Financial Group (NASDAQ:SIVB) by 26.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,157 shares of the bank’s stock after buying an additional 243 shares during the quarter. Pinnacle Financial Partners Inc.’s holdings in SVB Financial Group were worth $360,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the stock. Security National Trust Co. purchased a new stake in SVB Financial Group in the 2nd quarter worth approximately $116,000. Price Capital Management Inc. purchased a new stake in SVB Financial Group in the 3rd quarter worth approximately $124,000. Signaturefd LLC boosted its position in SVB Financial Group by 341.2% in the 2nd quarter. Signaturefd LLC now owns 503 shares of the bank’s stock worth $145,000 after purchasing an additional 389 shares in the last quarter. Advisors Preferred LLC purchased a new stake in SVB Financial Group in the 2nd quarter worth approximately $167,000. Finally, Piedmont Investment Advisors LLC purchased a new stake in SVB Financial Group in the 2nd quarter worth approximately $175,000. Institutional investors own 88.51% of the company’s stock.

Shares of NASDAQ:SIVB opened at $240.67 on Friday. SVB Financial Group has a 1 year low of $204.32 and a 1 year high of $333.74. The company has a market cap of $12.15 billion, a PE ratio of 24.29, a price-to-earnings-growth ratio of 1.27 and a beta of 1.48. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.60 and a current ratio of 0.63.

SVB Financial Group (NASDAQ:SIVB) last announced its quarterly earnings data on Thursday, October 25th. The bank reported $5.10 earnings per share for the quarter, beating analysts’ consensus estimates of $4.44 by $0.66. The company had revenue of $703.29 million for the quarter, compared to analyst estimates of $664.51 million. SVB Financial Group had a return on equity of 18.39% and a net margin of 32.44%. Sell-side analysts expect that SVB Financial Group will post 17.93 EPS for the current fiscal year.

Several research firms have commented on SIVB. Royal Bank of Canada restated a “buy” rating and issued a $355.00 price objective on shares of SVB Financial Group in a research report on Friday, July 27th. BidaskClub lowered SVB Financial Group from a “sell” rating to a “strong sell” rating in a research report on Friday, October 26th. SunTrust Banks increased their target price on SVB Financial Group to $350.00 and gave the company a “buy” rating in a research report on Monday, July 30th. Zacks Investment Research upgraded SVB Financial Group from a “hold” rating to a “buy” rating and set a $357.00 target price on the stock in a research report on Tuesday, October 9th. Finally, Wedbush increased their target price on SVB Financial Group from $325.00 to $350.00 and gave the company a “neutral” rating in a research report on Friday, July 27th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $349.22.

In other SVB Financial Group news, insider Gregory W. Becker sold 7,000 shares of the firm’s stock in a transaction on Monday, August 6th. The stock was sold at an average price of $325.40, for a total value of $2,277,800.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John F. Robinson sold 500 shares of the firm’s stock in a transaction on Monday, September 10th. The shares were sold at an average price of $324.07, for a total value of $162,035.00. Following the completion of the transaction, the director now owns 5,017 shares in the company, valued at approximately $1,625,859.19. The disclosure for this sale can be found here. Company insiders own 0.74% of the company’s stock.

About SVB Financial Group

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

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