SVB Financial Group (SIVB) Shares Sold by Great West Life Assurance Co. Can

Great West Life Assurance Co. Can decreased its position in shares of SVB Financial Group (NASDAQ:SIVB) by 8.8% during the third quarter, according to its most recent filing with the SEC. The firm owned 37,928 shares of the bank’s stock after selling 3,673 shares during the period. Great West Life Assurance Co. Can owned about 0.07% of SVB Financial Group worth $11,799,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. First Hawaiian Bank purchased a new position in shares of SVB Financial Group during the 3rd quarter worth approximately $2,039,000. British Airways Pensions Investment Management Ltd grew its holdings in shares of SVB Financial Group by 0.8% during the 2nd quarter. British Airways Pensions Investment Management Ltd now owns 33,122 shares of the bank’s stock worth $9,564,000 after acquiring an additional 271 shares during the period. Oregon Public Employees Retirement Fund purchased a new position in shares of SVB Financial Group during the 2nd quarter worth approximately $2,800,000. KAMES CAPITAL plc grew its holdings in shares of SVB Financial Group by 1.0% during the 3rd quarter. KAMES CAPITAL plc now owns 234,147 shares of the bank’s stock worth $72,768,000 after acquiring an additional 2,259 shares during the period. Finally, Sumitomo Life Insurance Co. purchased a new position in shares of SVB Financial Group during the 3rd quarter worth approximately $1,481,000. Hedge funds and other institutional investors own 88.41% of the company’s stock.

A number of research analysts have weighed in on the company. Jefferies Financial Group upped their target price on SVB Financial Group to $378.00 and gave the stock a “buy” rating in a report on Monday, August 27th. Zacks Investment Research downgraded SVB Financial Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 4th. ValuEngine downgraded SVB Financial Group from a “buy” rating to a “hold” rating in a research note on Tuesday, October 2nd. Barclays upped their price target on SVB Financial Group from $340.00 to $357.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 3rd. Finally, BidaskClub downgraded SVB Financial Group from a “hold” rating to a “sell” rating in a research note on Tuesday, October 16th. Two analysts have rated the stock with a sell rating, three have issued 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 an average rating of “Buy” and a consensus target price of $341.79.

In related news, insider Michael Descheneaux sold 1,750 shares of the company’s stock in a transaction that occurred on Thursday, November 1st. The stock was sold at an average price of $239.73, for a total value of $419,527.50. Following the transaction, the insider now directly owns 18,289 shares of the company’s stock, valued at approximately $4,384,421.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John F. Robinson sold 500 shares of the company’s stock in a transaction that occurred 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 directly owns 5,017 shares in the company, valued at $1,625,859.19. The disclosure for this sale can be found here. Insiders sold a total of 2,870 shares of company stock worth $729,718 over the last ninety days. 0.74% of the stock is currently owned by insiders.

SVB Financial Group stock opened at $240.43 on Thursday. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $13.57 billion, a P/E ratio of 24.26, a P/E/G ratio of 1.43 and a beta of 1.69. SVB Financial Group has a twelve month low of $216.32 and a twelve month high of $333.74.

SVB Financial Group (NASDAQ:SIVB) last released its quarterly earnings data on Thursday, October 25th. The bank reported $5.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.44 by $0.66. The business had revenue of $703.29 million for the quarter, compared to analysts’ expectations of $664.51 million. SVB Financial Group had a return on equity of 18.39% and a net margin of 32.44%. On average, analysts expect that SVB Financial Group will post 17.95 EPS for the current fiscal year.

SVB Financial Group declared that its board has initiated a stock repurchase plan on Tuesday, November 13th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the bank to repurchase up to 3.9% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

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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.

Read More: Reverse Stock Split

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

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