AMP Capital Investors Ltd increased its position in shares of SVB Financial Group (NASDAQ:SIVB) by 22.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 17,291 shares of the bank’s stock after purchasing an additional 3,185 shares during the quarter. AMP Capital Investors Ltd’s holdings in SVB Financial Group were worth $5,414,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Price Capital Management Inc. acquired a new position in SVB Financial Group during the third quarter worth $124,000. Signaturefd LLC boosted its stake in SVB Financial Group by 341.2% during the second quarter. Signaturefd LLC now owns 503 shares of the bank’s stock worth $145,000 after buying an additional 389 shares during the last quarter. Stratos Wealth Partners LTD. acquired a new position in SVB Financial Group during the third quarter worth $146,000. Advisors Preferred LLC acquired a new position in SVB Financial Group during the second quarter worth $167,000. Finally, Twin Tree Management LP acquired a new position in SVB Financial Group during the third quarter worth $167,000. Hedge funds and other institutional investors own 88.41% of the company’s stock.
In related news, insider Philip C. Cox sold 620 shares of the stock in a transaction dated Wednesday, November 28th. The stock was sold at an average price of $238.96, for a total transaction of $148,155.20. Following the transaction, the insider now owns 6,511 shares of the company’s stock, valued at approximately $1,555,868.56. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Michael Descheneaux sold 1,750 shares of the stock in a transaction dated 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 in the company, valued at approximately $4,384,421.97. The disclosure for this sale can be found here. Corporate insiders own 0.74% of the company’s stock.
Shares of SVB Financial Group stock opened at $205.80 on Monday. SVB Financial Group has a 52 week low of $203.49 and a 52 week high of $333.74. The firm has a market capitalization of $10.96 billion, a PE ratio of 20.77, a price-to-earnings-growth ratio of 1.15 and a beta of 1.69. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.14.
SVB Financial Group (NASDAQ:SIVB) last announced its quarterly earnings results on Thursday, October 25th. The bank reported $5.10 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $4.44 by $0.66. SVB Financial Group had a return on equity of 18.39% and a net margin of 32.44%. The business had revenue of $703.29 million for the quarter, compared to analyst estimates of $664.51 million. Equities analysts forecast that SVB Financial Group will post 17.91 earnings per share for the current fiscal year.
SVB Financial Group declared that its board has initiated a stock buyback program on Tuesday, November 13th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the bank to reacquire up to 3.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.
A number of equities analysts have weighed in on the company. ValuEngine lowered SVB Financial Group from a “sell” rating to a “strong sell” rating in a research note on Thursday. Royal Bank of Canada set a $320.00 price objective on SVB Financial Group and gave the stock a “buy” rating in a research note on Thursday. Jefferies Financial Group lowered their price objective on SVB Financial Group from $288.00 to $278.00 and set a “buy” rating on the stock in a research note on Thursday. Wells Fargo & Co lowered their price objective on SVB Financial Group from $345.00 to $300.00 and set an “outperform” rating on the stock in a research note on Thursday. Finally, Barclays raised SVB Financial Group from an “equal weight” rating to an “overweight” rating and set a $236.25 price objective on the stock in a research note on Wednesday, November 28th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $333.18.
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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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