IFM Investors Pty Ltd lifted its position in SVB Financial Group (NASDAQ:SIVB) by 36.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,790 shares of the bank’s stock after purchasing an additional 1,541 shares during the quarter. IFM Investors Pty Ltd’s holdings in SVB Financial Group were worth $1,210,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in SIVB. Advisory Services Network LLC raised its stake in SVB Financial Group by 11.0% during the 2nd quarter. Advisory Services Network LLC now owns 503 shares of the bank’s stock valued at $113,000 after acquiring an additional 50 shares during the last quarter. Altman Advisors Inc. raised its stake in SVB Financial Group by 0.7% during the 2nd quarter. Altman Advisors Inc. now owns 7,392 shares of the bank’s stock valued at $1,660,000 after acquiring an additional 54 shares during the last quarter. Seeyond raised its stake in SVB Financial Group by 11.6% during the 2nd quarter. Seeyond now owns 518 shares of the bank’s stock valued at $116,000 after acquiring an additional 54 shares during the last quarter. Cim LLC raised its stake in SVB Financial Group by 2.9% during the 3rd quarter. Cim LLC now owns 2,873 shares of the bank’s stock valued at $600,000 after acquiring an additional 81 shares during the last quarter. Finally, Advisor Partners LLC raised its stake in SVB Financial Group by 4.9% during the 2nd quarter. Advisor Partners LLC now owns 1,856 shares of the bank’s stock valued at $417,000 after acquiring an additional 87 shares during the last quarter. 91.48% of the stock is owned by hedge funds and other institutional investors.
Shares of SIVB stock traded down $0.85 during trading hours on Friday, reaching $238.60. 307,500 shares of the company’s stock were exchanged, compared to its average volume of 511,038. SVB Financial Group has a 1 year low of $177.70 and a 1 year high of $263.16. The company has a market cap of $12.35 billion, a P/E ratio of 13.09, a price-to-earnings-growth ratio of 1.41 and a beta of 2.17. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.66 and a quick ratio of 0.71. The company’s 50 day moving average is $211.88 and its two-hundred day moving average is $216.82.
SVB Financial Group (NASDAQ:SIVB) last issued its earnings results on Thursday, October 24th. The bank reported $5.15 earnings per share for the quarter, beating the Zacks’ consensus estimate of $4.99 by $0.16. SVB Financial Group had a return on equity of 20.38% and a net margin of 33.95%. The firm had revenue of $814.65 million for the quarter, compared to analysts’ expectations of $805.27 million. During the same quarter last year, the firm earned $5.10 earnings per share. The firm’s revenue for the quarter was up 15.8% compared to the same quarter last year. As a group, analysts predict that SVB Financial Group will post 21.29 EPS for the current fiscal year.
In other SVB Financial Group news, insider Marc C. Cadieux sold 1,000 shares of the firm’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $224.17, for a total value of $224,170.00. Following the transaction, the insider now directly 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 is available at the SEC website. Also, insider Michael Descheneaux sold 2,500 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $236.12, for a total value of $590,300.00. Following the completion of the transaction, the insider now directly owns 21,938 shares in the company, valued at $5,180,000.56. The disclosure for this sale can be found here. Insiders sold 4,348 shares of company stock worth $1,005,270 in the last quarter. 0.73% of the stock is owned by insiders.
SIVB has been the subject of several analyst reports. JMP Securities reduced their price objective on SVB Financial Group to $275.00 and set an “outperform” rating for the company in a research note on Tuesday, July 30th. Barclays reduced their price objective on 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. Royal Bank of Canada set a $265.00 target price on SVB Financial Group and gave the stock a “buy” rating in a research note on Friday, October 25th. Maxim Group cut their target price on SVB Financial Group from $300.00 to $275.00 and set a “buy” rating for the company in a research note on Friday, October 25th. Finally, ValuEngine raised SVB Financial Group from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Eight research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. SVB Financial Group currently has an average rating of “Buy” and a consensus price target of $260.38.
About SVB Financial Group
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.
See Also: Buy-Side Analysts
Receive News & Ratings for SVB Financial Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SVB Financial Group and related companies with MarketBeat.com's FREE daily email newsletter.