SVB Financial Group (SIVB) Holdings Reduced by Peregrine Capital Management LLC

Peregrine Capital Management LLC lessened its position in SVB Financial Group (NASDAQ:SIVB) by 6.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 181,683 shares of the bank’s stock after selling 13,323 shares during the quarter. SVB Financial Group accounts for 0.8% of Peregrine Capital Management LLC’s portfolio, making the stock its 23rd largest position. Peregrine Capital Management LLC owned about 0.34% of SVB Financial Group worth $33,991,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the stock. Oakbrook Investments LLC increased its position in SVB Financial Group by 84.3% during the 3rd quarter. Oakbrook Investments LLC now owns 4,100 shares of the bank’s stock valued at $767,000 after purchasing an additional 1,875 shares during the period. Strs Ohio increased its position in SVB Financial Group by 4.3% during the 3rd quarter. Strs Ohio now owns 407,764 shares of the bank’s stock valued at $76,288,000 after purchasing an additional 16,811 shares during the period. Principal Financial Group Inc. increased its position in SVB Financial Group by 6.8% during the 2nd quarter. Principal Financial Group Inc. now owns 223,271 shares of the bank’s stock valued at $39,249,000 after purchasing an additional 14,145 shares during the period. Comerica Bank increased its position in SVB Financial Group by 0.9% during the 2nd quarter. Comerica Bank now owns 42,407 shares of the bank’s stock valued at $7,560,000 after purchasing an additional 365 shares during the period. Finally, Synovus Financial Corp boosted its holdings in shares of SVB Financial Group by 14.4% in the 2nd quarter. Synovus Financial Corp now owns 7,139 shares of the bank’s stock valued at $1,253,000 after buying an additional 897 shares in the last quarter. 94.52% of the stock is currently owned by institutional investors.

SVB Financial Group (NASDAQ:SIVB) traded up $3.38 during trading on Tuesday, hitting $212.26. 524,500 shares of the stock were exchanged, compared to its average volume of 495,104. SVB Financial Group has a fifty-two week low of $144.31 and a fifty-two week high of $223.82. The stock has a market capitalization of $11,016.48, a price-to-earnings ratio of 23.44, a price-to-earnings-growth ratio of 2.00 and a beta of 1.64. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.59 and a quick ratio of 0.59.

SVB Financial Group (NASDAQ:SIVB) last announced its quarterly earnings results on Thursday, October 26th. The bank reported $2.79 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.50. The firm had revenue of $533.40 million for the quarter, compared to analysts’ expectations of $490.56 million. SVB Financial Group had a net margin of 25.07% and a return on equity of 11.88%. The company’s revenue was up 23.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.12 EPS. equities analysts expect that SVB Financial Group will post 9.5 EPS for the current fiscal year.

In other SVB Financial Group news, Director Eric Benhamou sold 2,000 shares of the company’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $172.01, for a total value of $344,020.00. Following the transaction, the director now owns 6,672 shares of the company’s stock, valued at $1,147,650.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Marc C. Cadieux sold 2,260 shares of the company’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $219.34, for a total transaction of $495,708.40. Following the completion of the transaction, the insider now directly owns 15,971 shares in the company, valued at approximately $3,503,079.14. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,150 shares of company stock worth $1,476,106. Corporate insiders own 0.73% of the company’s stock.

A number of analysts have recently weighed in on the stock. Jefferies Group LLC restated a “buy” rating and issued a $216.00 price target on shares of SVB Financial Group in a report on Friday, August 11th. BidaskClub cut shares of SVB Financial Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Wells Fargo & Company reiterated an “outperform” rating and issued a $240.00 target price (up from $215.00) on shares of SVB Financial Group in a research note on Thursday, November 9th. Maxim Group lifted their target price on shares of SVB Financial Group from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Monday, July 31st. Finally, Zacks Investment Research cut shares of SVB Financial Group from a “buy” rating to a “hold” rating in a research note on Monday. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. SVB Financial Group presently has an average rating of “Buy” and an average target price of $214.00.

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SVB Financial Group Profile

SVB Financial Group is a financial services company, as well as a bank holding and a financial holding company. The Company’s segments include Global Commercial Bank, SVB Private Bank and SVB Capital. The Global Commercial Bank segment consists of the operations of its Commercial Bank, and of SVB Wine, SVB Analytics and its Debt Fund Investments.

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

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