Nisa Investment Advisors LLC lessened its position in shares of SVB Financial Group (NASDAQ:SIVB) by 9.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,755 shares of the bank’s stock after selling 1,475 shares during the period. Nisa Investment Advisors LLC’s holdings in SVB Financial Group were worth $2,965,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in SIVB. Lindbrook Capital LLC lifted its position in shares of SVB Financial Group by 77.4% during the 1st quarter. Lindbrook Capital LLC now owns 204 shares of the bank’s stock worth $31,000 after purchasing an additional 89 shares during the last quarter. Quadrant Capital Group LLC increased its holdings in SVB Financial Group by 63.9% in the fourth quarter. Quadrant Capital Group LLC now owns 218 shares of the bank’s stock valued at $50,000 after buying an additional 85 shares during the last quarter. Steward Partners Investment Advisory LLC raised its stake in SVB Financial Group by 30.6% in the first quarter. Steward Partners Investment Advisory LLC now owns 273 shares of the bank’s stock valued at $41,000 after buying an additional 64 shares in the last quarter. Clean Yield Group lifted its holdings in SVB Financial Group by 177.8% during the 1st quarter. Clean Yield Group now owns 350 shares of the bank’s stock worth $53,000 after buying an additional 224 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new position in shares of SVB Financial Group during the 1st quarter worth about $67,000. 90.74% of the stock is currently owned by institutional investors.
SIVB opened at $224.27 on Friday. SVB Financial Group has a 52 week low of $127.39 and a 52 week high of $270.95. The business has a 50 day moving average price of $215.17 and a two-hundred day moving average price of $206.69. The company has a quick ratio of 0.72, a current ratio of 0.71 and a debt-to-equity ratio of 0.12. The company has a market cap of $11.48 billion, a PE ratio of 13.05, a P/E/G ratio of 2.03 and a beta of 2.25.
SVB Financial Group (NASDAQ:SIVB) last released its earnings results on Thursday, July 23rd. The bank reported $4.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.96 by $1.46. SVB Financial Group had a return on equity of 13.61% and a net margin of 25.26%. The business had revenue of $881.78 million for the quarter, compared to analyst estimates of $757.21 million. During the same quarter in the previous year, the company posted $6.08 earnings per share. As a group, sell-side analysts expect that SVB Financial Group will post 14.1 EPS for the current fiscal year.
In related news, CEO Gregory W. Becker sold 12,343 shares of the firm’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $211.07, for a total value of $2,605,237.01. Also, insider Michael Descheneaux sold 1,050 shares of SVB Financial Group stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $183.01, for a total value of $192,160.50. Following the completion of the sale, the insider now directly owns 23,115 shares in the company, valued at approximately $4,230,276.15. The disclosure for this sale can be found here. Insiders sold a total of 22,476 shares of company stock worth $4,811,007 over the last three months. 0.78% of the stock is currently owned by corporate insiders.
Several equities research analysts recently weighed in on the company. UBS Group boosted their target price on SVB Financial Group from $154.00 to $164.00 and gave the stock a “neutral” rating in a research note on Friday, May 15th. Raymond James raised shares of SVB Financial Group from a “market perform” rating to an “outperform” rating and set a $260.00 price objective on the stock in a report on Wednesday, June 17th. JPMorgan Chase & Co. upped their target price on shares of SVB Financial Group from $250.00 to $275.00 in a report on Friday, July 24th. Barclays lifted their price target on shares of SVB Financial Group from $214.00 to $250.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 7th. Finally, Wolfe Research initiated coverage on shares of SVB Financial Group in a research report on Friday. They issued an “outperform” rating for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the stock. SVB Financial Group currently has a consensus rating of “Buy” and an average price target of $232.63.
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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