Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in SVB Financial Group (NASDAQ:SIVB) by 26.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 133,701 shares of the bank’s stock after acquiring an additional 28,074 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.25% of SVB Financial Group worth $25,014,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Capstone Asset Management Co. boosted its stake in shares of SVB Financial Group by 8.1% during the 2nd quarter. Capstone Asset Management Co. now owns 5,160 shares of the bank’s stock valued at $907,000 after buying an additional 386 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in shares of SVB Financial Group by 58.2% during the 2nd quarter. State of Alaska Department of Revenue now owns 1,455 shares of the bank’s stock valued at $255,000 after buying an additional 535 shares during the last quarter. Mn Services Vermogensbeheer B.V. purchased a new position in shares of SVB Financial Group during the 2nd quarter valued at approximately $1,494,000. Oregon Public Employees Retirement Fund boosted its stake in shares of SVB Financial Group by 6.6% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 19,370 shares of the bank’s stock valued at $3,405,000 after buying an additional 1,199 shares during the last quarter. Finally, Aperio Group LLC boosted its stake in shares of SVB Financial Group by 1.8% during the 2nd quarter. Aperio Group LLC now owns 15,609 shares of the bank’s stock valued at $2,744,000 after buying an additional 280 shares during the last quarter. Hedge funds and other institutional investors own 95.00% of the company’s stock.
SIVB has been the subject of several research analyst reports. ValuEngine upgraded SVB Financial Group from a “hold” rating to a “buy” rating in a research note on Thursday, August 17th. Barclays PLC set a $217.00 target price on SVB Financial Group and gave the company a “hold” rating in a research note on Monday, October 30th. Maxim Group reiterated a “buy” rating and set a $250.00 target price (up from $220.00) on shares of SVB Financial Group in a research note on Monday, October 30th. Zacks Investment Research cut SVB Financial Group from a “buy” rating to a “hold” rating in a research note on Monday, November 13th. Finally, Stephens reissued a “buy” rating and set a $205.00 price target on shares of SVB Financial Group in a research report on Friday, July 28th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. SVB Financial Group currently has a consensus rating of “Buy” and an average price target of $216.21.
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Shares of SVB Financial Group (SIVB) traded down $0.07 during midday trading on Tuesday, reaching $215.15. The company’s stock had a trading volume of 305,800 shares, compared to its average volume of 491,280. SVB Financial Group has a 1 year low of $150.64 and a 1 year high of $223.82. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.59 and a quick ratio of 0.59. The firm has a market capitalization of $11,350.00, a price-to-earnings ratio of 24.16, a PEG ratio of 2.06 and a beta of 1.63.
SVB Financial Group (NASDAQ:SIVB) last issued its earnings results on Thursday, October 26th. The bank reported $2.79 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.29 by $0.50. SVB Financial Group had a return on equity of 11.88% and a net margin of 25.07%. The firm had revenue of $533.40 million for the quarter, compared to analyst estimates of $490.56 million. During the same period last year, the company earned $2.12 earnings per share. The firm’s revenue for the quarter was up 23.0% on a year-over-year basis. equities research analysts predict that SVB Financial Group will post 9.5 earnings per share for the current year.
In other SVB Financial Group news, Director Eric Benhamou sold 2,000 shares of the stock in a transaction on Friday, September 1st. The stock was sold at an average price of $172.01, for a total value of $344,020.00. Following the sale, the director now directly owns 6,672 shares of the company’s stock, valued at $1,147,650.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Marc C. Cadieux sold 2,260 shares of the stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $219.34, for a total value of $495,708.40. Following the completion of the sale, the insider now directly owns 15,971 shares in the company, valued at $3,503,079.14. The disclosure for this sale can be found here. Insiders sold 10,780 shares of company stock worth $2,237,898 over the last ninety days. 0.73% of the stock is owned by corporate insiders.
SVB Financial Group Company 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.
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