Whittier Trust Co. of Nevada Inc. increased its holdings in SVB Financial Group (NASDAQ:SIVB) by 12.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 3,827 shares of the bank’s stock after buying an additional 427 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in SVB Financial Group were worth $859,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Whittier Trust Co. boosted its holdings in shares of SVB Financial Group by 4.3% in the 2nd quarter. Whittier Trust Co. now owns 22,828 shares of the bank’s stock valued at $5,127,000 after buying an additional 939 shares during the period. Cim LLC boosted its holdings in shares of SVB Financial Group by 7.2% in the 2nd quarter. Cim LLC now owns 2,792 shares of the bank’s stock valued at $627,000 after buying an additional 187 shares during the period. State of New Jersey Common Pension Fund D boosted its holdings in shares of SVB Financial Group by 3.1% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 330,000 shares of the bank’s stock valued at $74,115,000 after buying an additional 10,000 shares during the period. Davy Asset Management Ltd acquired a new position in shares of SVB Financial Group in the 2nd quarter valued at about $1,298,000. Finally, Bessemer Group Inc. boosted its holdings in shares of SVB Financial Group by 3,056.6% in the 2nd quarter. Bessemer Group Inc. now owns 5,966 shares of the bank’s stock valued at $1,340,000 after buying an additional 5,777 shares during the period. 90.81% of the stock is owned by institutional investors and hedge funds.
Several research analysts have recently commented on SIVB shares. ValuEngine raised shares of SVB Financial Group from a “sell” rating to a “hold” rating in a report on Tuesday, July 2nd. Stephens reissued a “buy” rating on shares of SVB Financial Group in a research note on Friday, July 26th. Sanford C. Bernstein lowered shares of SVB Financial Group from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 28th. JMP Securities reduced their target price on shares of SVB Financial Group to $275.00 and set an “outperform” rating for the company in a research note on Tuesday, July 30th. Finally, FIG Partners lowered shares of SVB Financial Group from an “outperform” rating to a “market perform” rating in a research note on Friday, April 26th. Nine investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $273.56.
In other news, insider Michael Descheneaux sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $239.55, for a total value of $1,437,300.00. Following the completion of the sale, the insider now directly owns 23,811 shares of the company’s stock, valued at approximately $5,703,925.05. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John S. Clendening purchased 900 shares of SVB Financial Group stock in a transaction dated Friday, May 24th. The stock was bought at an average cost of $221.12 per share, with a total value of $199,008.00. Following the completion of the purchase, the director now owns 1,729 shares in the company, valued at approximately $382,316.48. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 8,547 shares of company stock valued at $2,022,768. Company insiders own 0.73% of the company’s stock.
SVB Financial Group stock traded down $3.19 during midday trading on Friday, reaching $215.05. 504,901 shares of the stock traded hands, compared to its average volume of 523,375. The stock has a fifty day moving average price of $220.63. The firm has a market cap of $11.49 billion, a price-to-earnings ratio of 11.80, a price-to-earnings-growth ratio of 1.37 and a beta of 2.07. SVB Financial Group has a fifty-two week low of $177.70 and a fifty-two week high of $332.90. The company has a current ratio of 0.71, a quick ratio of 0.70 and a debt-to-equity ratio of 0.12.
SVB Financial Group (NASDAQ:SIVB) last issued its quarterly earnings results on Thursday, July 25th. The bank reported $6.08 earnings per share for the quarter, topping analysts’ consensus estimates of $4.98 by $1.10. The company had revenue of $863.15 million during the quarter, compared to analyst estimates of $787.38 million. SVB Financial Group had a net margin of 35.83% and a return on equity of 21.44%. During the same period in the prior year, the business posted $4.42 EPS. On average, research analysts expect that SVB Financial Group will post 21.26 EPS for the current year.
SVB Financial Group Profile
SVB Financial Group, a diversified financial services company, provides various banking and financial products and services. The company operates through three segments: Global Commercial Bank, SVB Private Bank, and SVB Capital. The 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 and credit cards, account analysis, and disbursement, as well as online and mobile banking services.
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