Basswood Capital Management L.L.C. increased its position in shares of SVB Financial Group (NASDAQ:SIVB) by 22.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 41,389 shares of the bank’s stock after acquiring an additional 7,472 shares during the quarter. Basswood Capital Management L.L.C. owned approximately 0.08% of SVB Financial Group worth $7,861,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. Clean Yield Group purchased a new stake in SVB Financial Group in the 4th quarter valued at about $47,000. JOYN Advisors Inc. raised its holdings in SVB Financial Group by 106.9% in the 4th quarter. JOYN Advisors Inc. now owns 271 shares of the bank’s stock valued at $51,000 after buying an additional 140 shares during the period. Paradigm Asset Management Co. LLC purchased a new stake in SVB Financial Group in the 3rd quarter valued at about $93,000. Stratos Wealth Partners LTD. purchased a new stake in SVB Financial Group in the 3rd quarter valued at about $146,000. Finally, Heritage Trust Co purchased a new stake in SVB Financial Group in the 4th quarter valued at about $95,000. 89.26% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ:SIVB opened at $246.21 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a market cap of $12.68 billion, a price-to-earnings ratio of 13.51, a price-to-earnings-growth ratio of 1.58 and a beta of 2.03. SVB Financial Group has a 1 year low of $177.70 and a 1 year high of $333.74.
SVB Financial Group (NASDAQ:SIVB) last issued its quarterly earnings results on Thursday, January 24th. The bank reported $4.96 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $4.69 by $0.27. The company had revenue of $673.69 million for the quarter, compared to analyst estimates of $697.89 million. SVB Financial Group had a net margin of 35.87% and a return on equity of 19.90%. The business’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.19 earnings per share. Analysts anticipate that SVB Financial Group will post 20.39 EPS for the current fiscal year.
In related news, insider John China sold 11,200 shares of the company’s stock in a transaction that occurred on Thursday, February 28th. The shares were sold at an average price of $249.12, for a total transaction of $2,790,144.00. Following the sale, the insider now directly owns 22,172 shares in the company, valued at $5,523,488.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Christopher Edmonds-Waters sold 3,669 shares of the company’s stock in a transaction that occurred on Thursday, February 14th. The stock was sold at an average price of $242.39, for a total transaction of $889,328.91. Following the sale, the insider now owns 6,020 shares in the company, valued at $1,459,187.80. The disclosure for this sale can be found here. Insiders have sold 16,617 shares of company stock worth $4,096,266 over the last quarter. Insiders own 0.74% of the company’s stock.
SIVB has been the topic of several research analyst reports. Zacks Investment Research lowered shares of SVB Financial Group from a “buy” rating to a “hold” rating in a report on Wednesday, January 16th. ValuEngine lowered shares of SVB Financial Group from a “hold” rating to a “sell” rating in a report on Wednesday, March 6th. Royal Bank of Canada reduced their price objective on shares of SVB Financial Group to $300.00 and set an “outperform” rating on the stock in a report on Friday, January 25th. They noted that the move was a valuation call. Barclays upgraded shares of SVB Financial Group from an “equal weight” rating to an “overweight” rating and set a $236.25 price objective on the stock in a report on Wednesday, November 28th. Finally, Bank of America set a $280.00 price objective on shares of SVB Financial Group and gave the company a “buy” rating in a report on Tuesday, March 5th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $313.35.
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SVB Financial Group Profile
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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