Public Employees Retirement Association of Colorado cut its holdings in shares of SVB Financial Group (NASDAQ:SIVB) by 59.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 122,521 shares of the bank’s stock after selling 180,045 shares during the period. Public Employees Retirement Association of Colorado owned 0.24% of SVB Financial Group worth $25,601,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Patriot Financial Group Insurance Agency LLC boosted its stake in SVB Financial Group by 3,733.3% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 115 shares of the bank’s stock valued at $25,000 after acquiring an additional 112 shares in the last quarter. Griffin Asset Management Inc. acquired a new stake in SVB Financial Group in the second quarter valued at approximately $28,000. Pearl River Capital LLC acquired a new stake in SVB Financial Group in the second quarter valued at approximately $30,000. NEXT Financial Group Inc acquired a new stake in SVB Financial Group in the second quarter valued at approximately $33,000. Finally, Bray Capital Advisors acquired a new stake in SVB Financial Group in the third quarter valued at approximately $31,000. Hedge funds and other institutional investors own 91.48% of the company’s stock.
In other SVB Financial Group news, insider Marc C. Cadieux sold 1,000 shares of SVB Financial Group stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $224.17, for a total value of $224,170.00. Following the completion of the transaction, the insider now owns 13,147 shares of the company’s stock, valued at $2,947,162.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael Descheneaux sold 2,500 shares of SVB Financial Group stock in a transaction on Monday, November 4th. The shares were sold at an average price of $236.12, for a total transaction of $590,300.00. Following the completion of the transaction, the insider now directly owns 21,938 shares of the company’s stock, valued at approximately $5,180,000.56. The disclosure for this sale can be found here. Insiders sold 4,348 shares of company stock valued at $1,005,270 in the last ninety days. 0.73% of the stock is owned by corporate insiders.
Shares of SVB Financial Group stock traded down $1.19 during trading on Monday, hitting $237.41. 8,092 shares of the company’s stock were exchanged, compared to its average volume of 511,038. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.71 and a current ratio of 0.66. The business has a 50-day simple moving average of $211.88 and a 200-day simple moving average of $216.82. SVB Financial Group has a 52-week low of $177.70 and a 52-week high of $263.16. The stock has a market capitalization of $12.35 billion, a price-to-earnings ratio of 13.05, a PEG ratio of 1.41 and a beta of 2.17.
SVB Financial Group (NASDAQ:SIVB) last released its quarterly earnings data on Thursday, October 24th. The bank reported $5.15 earnings per share for the quarter, beating analysts’ consensus estimates of $4.99 by $0.16. SVB Financial Group had a net margin of 33.95% and a return on equity of 20.38%. The company had revenue of $814.65 million during the quarter, compared to analysts’ expectations of $805.27 million. During the same quarter in the previous year, the company earned $5.10 earnings per share. The firm’s revenue for the quarter was up 15.8% on a year-over-year basis. On average, equities analysts anticipate that SVB Financial Group will post 21.29 earnings per share for the current fiscal year.
Several brokerages have weighed in on SIVB. Piper Jaffray Companies raised their target price on shares of SVB Financial Group from $250.00 to $255.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Barclays lowered their price objective on shares of SVB Financial Group from $300.00 to $275.00 and set an “overweight” rating for the company in a research note on Thursday, September 12th. Wells Fargo & Co lowered their price objective on shares of SVB Financial Group from $240.00 to $225.00 and set a “market perform” rating for the company in a research note on Friday, October 25th. Royal Bank of Canada set a $265.00 price objective on shares of SVB Financial Group and gave the stock a “buy” rating in a research note on Friday, October 25th. Finally, Morgan Stanley lifted their price objective on shares of SVB Financial Group from $265.00 to $270.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $260.38.
SVB Financial Group Company 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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