Baird Financial Group Inc. trimmed its holdings in shares of SVB Financial Group (NASDAQ:SIVB) by 19.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,808 shares of the bank’s stock after selling 2,881 shares during the period. Baird Financial Group Inc.’s holdings in SVB Financial Group were worth $3,410,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also made changes to their positions in the stock. British Airways Pensions Investment Management Ltd boosted its position in SVB Financial Group by 0.8% in the 2nd quarter. British Airways Pensions Investment Management Ltd now owns 33,122 shares of the bank’s stock valued at $9,564,000 after buying an additional 271 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in SVB Financial Group in the 2nd quarter valued at about $2,346,000. Advisors Preferred LLC purchased a new position in SVB Financial Group in the 2nd quarter valued at about $167,000. Aviva PLC boosted its position in SVB Financial Group by 5.2% in the 2nd quarter. Aviva PLC now owns 91,715 shares of the bank’s stock valued at $26,484,000 after buying an additional 4,508 shares during the last quarter. Finally, Highland Private Wealth Management purchased a new position in SVB Financial Group in the 2nd quarter valued at about $357,000. 88.87% of the stock is owned by hedge funds and other institutional investors.
SIVB has been the subject of a number of analyst reports. Zacks Investment Research raised shares of SVB Financial Group from a “hold” rating to a “buy” rating and set a $339.00 price objective for the company in a research report on Tuesday, July 17th. Stephens reissued a “buy” rating and issued a $350.00 price objective on shares of SVB Financial Group in a research report on Friday, July 13th. BidaskClub cut shares of SVB Financial Group from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 30th. Piper Jaffray Companies reissued a “buy” rating and issued a $384.00 price objective on shares of SVB Financial Group in a research report on Friday, July 27th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and issued a $370.00 price objective on shares of SVB Financial Group in a research report on Friday, July 27th. Four investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. SVB Financial Group currently has a consensus rating of “Buy” and an average price target of $354.06.
Shares of SVB Financial Group stock opened at $314.81 on Friday. The stock has a market capitalization of $17.31 billion, a PE ratio of 31.77, a P/E/G ratio of 1.71 and a beta of 1.47. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.14. SVB Financial Group has a 1 year low of $167.99 and a 1 year high of $333.74.
SVB Financial Group (NASDAQ:SIVB) last issued its earnings results on Thursday, July 26th. The bank reported $4.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.86 by $0.56. The business had revenue of $659.10 million for the quarter, compared to analyst estimates of $612.75 million. SVB Financial Group had a net margin of 29.56% and a return on equity of 16.47%. The company’s revenue for the quarter was up 39.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.32 EPS. sell-side analysts forecast that SVB Financial Group will post 17.29 earnings per share for the current year.
In other news, Director John F. Robinson sold 500 shares of the company’s stock in a transaction dated Tuesday, July 10th. The shares were sold at an average price of $304.25, for a total value of $152,125.00. Following the sale, the director now owns 5,517 shares in the company, valued at approximately $1,678,547.25. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Gregory W. Becker sold 7,000 shares of the company’s stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $325.40, for a total transaction of $2,277,800.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,872 shares of company stock worth $6,594,766. Company insiders own 0.74% of the company’s stock.
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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