Jefferies Group LLC purchased a new position in SVB Financial Group (NASDAQ:SIVB) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 7,660 shares of the bank’s stock, valued at approximately $1,720,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SIVB. Invesco Ltd. raised its holdings in SVB Financial Group by 122.0% in the 2nd quarter. Invesco Ltd. now owns 1,425,010 shares of the bank’s stock worth $320,042,000 after purchasing an additional 783,083 shares during the period. Amundi Pioneer Asset Management Inc. raised its holdings in shares of SVB Financial Group by 357.8% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 419,131 shares of the bank’s stock valued at $93,199,000 after acquiring an additional 327,587 shares during the last quarter. OppenheimerFunds Inc. raised its holdings in shares of SVB Financial Group by 182.4% during the first quarter. OppenheimerFunds Inc. now owns 453,143 shares of the bank’s stock valued at $100,760,000 after acquiring an additional 292,696 shares during the last quarter. TimesSquare Capital Management LLC raised its holdings in shares of SVB Financial Group by 71.5% during the first quarter. TimesSquare Capital Management LLC now owns 638,100 shares of the bank’s stock valued at $141,888,000 after acquiring an additional 266,100 shares during the last quarter. Finally, Alecta Pensionsforsakring Omsesidigt acquired a new position in shares of SVB Financial Group during the second quarter valued at approximately $22,453,000. 91.21% of the stock is owned by institutional investors.
In other SVB Financial Group news, COO Philip C. Cox sold 350 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $230.80, for a total value of $80,780.00. Following the sale, the chief operating officer now directly owns 7,909 shares in the company, valued at $1,825,397.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Marc C. Cadieux sold 2,000 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $229.94, for a total value of $459,880.00. Following the completion of the sale, the insider now owns 14,147 shares in the company, valued at $3,252,961.18. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,395 shares of company stock worth $1,379,838. 0.73% of the stock is owned by insiders.
A number of equities analysts have commented on the company. Stephens reissued a “buy” rating and set a $250.00 target price on shares of SVB Financial Group in a report on Tuesday, September 17th. Barclays reduced their target price on SVB Financial Group from $300.00 to $275.00 and set an “overweight” rating for the company in a report on Thursday, September 12th. Wedbush increased their price target on SVB Financial Group from $225.00 to $235.00 and gave the company a “neutral” rating in a report on Friday, July 26th. SunTrust Banks set a $250.00 price target on SVB Financial Group and gave the company a “buy” rating in a report on Wednesday, September 18th. Finally, Piper Jaffray Companies set a $265.00 price target on SVB Financial Group and gave the company a “buy” rating in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the stock. SVB Financial Group has a consensus rating of “Buy” and a consensus target price of $269.15.
SIVB opened at $206.15 on Friday. SVB Financial Group has a 52 week low of $177.70 and a 52 week high of $330.50. The business has a fifty day simple moving average of $201.96 and a 200-day simple moving average of $221.74. The firm has a market cap of $11.03 billion, a P/E ratio of 9.87, a P/E/G ratio of 1.26 and a beta of 2.14. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.12.
SVB Financial Group (NASDAQ:SIVB) last released its quarterly earnings results on Thursday, July 25th. The bank reported $6.08 EPS for the quarter, topping the consensus estimate of $4.98 by $1.10. The business had revenue of $863.15 million during the quarter, compared to analyst estimates of $787.38 million. SVB Financial Group had a return on equity of 21.44% and a net margin of 35.83%. During the same period last year, the business posted $4.42 earnings per share. Sell-side analysts expect that SVB Financial Group will post 21.23 earnings per share for the current year.
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.
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