Public Employees Retirement System of Ohio decreased its position in SVB Financial Group (NASDAQ:SIVB) by 33.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 43,276 shares of the bank’s stock after selling 21,326 shares during the period. Public Employees Retirement System of Ohio owned about 0.08% of SVB Financial Group worth $12,496,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. British Airways Pensions Investment Management Ltd lifted its position in SVB Financial Group by 0.8% during the second quarter. British Airways Pensions Investment Management Ltd now owns 33,122 shares of the bank’s stock valued at $9,564,000 after buying an additional 271 shares during the period. Oregon Public Employees Retirement Fund purchased a new position in shares of SVB Financial Group in the 2nd quarter worth about $2,800,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of SVB Financial Group in the 2nd quarter worth about $2,346,000. Northwestern Mutual Wealth Management Co. raised its position in shares of SVB Financial Group by 458.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,129 shares of the bank’s stock worth $326,000 after purchasing an additional 927 shares during the last quarter. Finally, AMP Capital Investors Ltd raised its position in shares of SVB Financial Group by 2.8% in the 2nd quarter. AMP Capital Investors Ltd now owns 14,106 shares of the bank’s stock worth $4,073,000 after purchasing an additional 381 shares during the last quarter. Hedge funds and other institutional investors own 88.88% of the company’s stock.
SIVB has been the subject of several recent analyst reports. BidaskClub lowered SVB Financial Group from a “buy” rating to a “hold” rating in a research report on Tuesday, June 26th. Wells Fargo & Co lifted their price objective on SVB Financial Group from $325.00 to $335.00 and gave the stock an “outperform” rating in a report on Tuesday, June 26th. Stephens reiterated a “buy” rating and issued a $350.00 price objective on shares of SVB Financial Group in a report on Friday, July 13th. Zacks Investment Research upgraded SVB Financial Group from a “hold” rating to a “buy” rating and set a $339.00 price target for the company in a research note on Tuesday, July 17th. Finally, Royal Bank of Canada restated a “buy” rating and set a $355.00 price target on shares of SVB Financial Group in a research note on Friday, July 27th. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $356.56.
NASDAQ SIVB opened at $316.05 on Wednesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.60 and a current ratio of 0.60. SVB Financial Group has a 12 month low of $180.32 and a 12 month high of $333.74. The company has a market capitalization of $16.54 billion, a P/E ratio of 31.94, a price-to-earnings-growth ratio of 1.63 and a beta of 1.48.
SVB Financial Group (NASDAQ:SIVB) last posted its quarterly earnings results on Thursday, July 26th. The bank reported $4.42 EPS for the quarter, topping the Zacks’ consensus estimate of $3.86 by $0.56. The company had revenue of $659.10 million for the quarter, compared to analysts’ expectations of $612.75 million. SVB Financial Group had a return on equity of 16.47% and a net margin of 29.56%. The firm’s revenue was up 39.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.32 EPS. As a group, equities analysts forecast that SVB Financial Group will post 17.29 earnings per share for the current year.
In related news, insider Gregory W. Becker sold 7,000 shares of the stock in a transaction on Monday, August 6th. The stock was sold at an average price of $325.40, for a total transaction of $2,277,800.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John F. Robinson sold 500 shares of the stock in a transaction on Monday, September 10th. The shares were sold at an average price of $324.07, for a total value of $162,035.00. Following the sale, the director now owns 5,017 shares in the company, valued at approximately $1,625,859.19. The disclosure for this sale can be found here. Insiders have sold a total of 20,372 shares of company stock worth $6,442,641 over the last ninety days. Insiders own 0.74% of the company’s stock.
SVB Financial Group Company Profile
SVB Financial Group, a diversified financial services company, provides various banking and financial products and services. Its 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 card account analysis, and disbursement, as well as online and mobile banking services.
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