Texas Permanent School Fund Sells 440 Shares of SVB Financial Group (NASDAQ:SIVB)

Texas Permanent School Fund trimmed its position in shares of SVB Financial Group (NASDAQ:SIVBGet Rating) by 5.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,620 shares of the bank’s stock after selling 440 shares during the period. Texas Permanent School Fund’s holdings in SVB Financial Group were worth $4,263,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC bought a new stake in shares of SVB Financial Group in the 4th quarter valued at approximately $3,290,000. Commonwealth Equity Services LLC grew its stake in shares of SVB Financial Group by 2.5% in the 4th quarter. Commonwealth Equity Services LLC now owns 4,955 shares of the bank’s stock valued at $3,360,000 after purchasing an additional 122 shares during the period. CWM LLC bought a new stake in shares of SVB Financial Group in the 4th quarter valued at approximately $98,000. Raymond James Trust N.A. grew its stake in shares of SVB Financial Group by 11.9% in the 4th quarter. Raymond James Trust N.A. now owns 527 shares of the bank’s stock valued at $357,000 after purchasing an additional 56 shares during the period. Finally, Qube Research & Technologies Ltd bought a new stake in shares of SVB Financial Group in the 4th quarter valued at approximately $20,941,000. 88.80% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SIVB. Wolfe Research reduced their target price on SVB Financial Group from $723.00 to $470.00 and set an “outperform” rating on the stock in a report on Thursday, May 26th. Wedbush downgraded SVB Financial Group from an “outperform” rating to a “neutral” rating in a report on Thursday, June 30th. Barclays reduced their target price on SVB Financial Group from $789.00 to $638.00 and set an “equal weight” rating on the stock in a report on Monday, July 25th. Wells Fargo & Company reduced their target price on SVB Financial Group from $650.00 to $550.00 in a report on Friday, July 22nd. Finally, Argus raised SVB Financial Group from a “hold” rating to a “buy” rating and set a $550.00 target price on the stock in a report on Wednesday, May 4th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, seven have given a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $574.73.

Insider Activity at SVB Financial Group

In related news, Director Garen K. Staglin sold 500 shares of the company’s stock in a transaction on Tuesday, June 7th. The shares were sold at an average price of $484.41, for a total value of $242,205.00. Following the completion of the sale, the director now owns 13,680 shares in the company, valued at approximately $6,626,728.80. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.62% of the stock is owned by corporate insiders.

SVB Financial Group Stock Performance

SIVB stock opened at $413.21 on Friday. The business’s fifty day moving average is $419.74 and its 200-day moving average is $502.14. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 0.27. The company has a market cap of $24.32 billion, a P/E ratio of 15.90, a price-to-earnings-growth ratio of 1.69 and a beta of 1.75. SVB Financial Group has a twelve month low of $355.37 and a twelve month high of $763.22.

SVB Financial Group (NASDAQ:SIVBGet Rating) last released its quarterly earnings data on Thursday, July 21st. The bank reported $5.60 EPS for the quarter, missing analysts’ consensus estimates of $7.76 by ($2.16). SVB Financial Group had a net margin of 25.58% and a return on equity of 13.43%. During the same quarter in the prior year, the firm posted $9.09 earnings per share. Equities research analysts forecast that SVB Financial Group will post 30.59 EPS for the current year.

SVB Financial Group Company Profile

(Get Rating)

SVB Financial Group, a diversified financial services company, offers various banking and financial products and services. It operates through four segments: Global Commercial Bank, SVB Private Bank, SVB Capital, and SVB Securities. The Global Commercial Bank segment provides commercial banking products and services, including credit, treasury management, foreign exchange, trade finance, and other financial products and services.

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Institutional Ownership by Quarter for SVB Financial Group (NASDAQ:SIVB)

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