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.
In other SVB Financial Group news, insider Gregory W. Becker sold 7,000 shares of the company’s stock in a transaction on Monday, August 6th. The stock was sold at an average price of $325.40, for a total value of $2,277,800.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John F. Robinson sold 500 shares of the company’s 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 completion of the transaction, the director now directly 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 in the last 90 days. 0.74% of the stock is currently owned by insiders.
Shares of SIVB opened at $316.05 on Wednesday. The company has a market cap of $16.54 billion, a PE ratio of 31.94, a PEG ratio of 1.63 and a beta of 1.48. SVB Financial Group has a 1 year low of $180.32 and a 1 year high of $333.74. 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 (NASDAQ:SIVB) last issued its quarterly earnings data on Thursday, July 26th. The bank reported $4.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.86 by $0.56. SVB Financial Group had a return on equity of 16.47% and a net margin of 29.56%. The business had revenue of $659.10 million for the quarter, compared to analysts’ expectations of $612.75 million. During the same period in the prior year, the firm earned $2.32 EPS. The company’s revenue for the quarter was up 39.9% on a year-over-year basis. As a group, equities analysts forecast that SVB Financial Group will post 17.29 EPS for the current fiscal year.
Several research firms recently commented on SIVB. Royal Bank of Canada reiterated a “buy” rating and issued a $355.00 price objective on shares of SVB Financial Group in a report on Friday, July 27th. BidaskClub downgraded SVB Financial Group from a “buy” rating to a “hold” rating in a research note on Tuesday, June 26th. SunTrust Banks boosted their price target on SVB Financial Group to $350.00 and gave the company a “buy” rating in a research note on Monday, July 30th. Zacks Investment Research upgraded SVB Financial Group from a “hold” rating to a “buy” rating and set a $357.00 price target for the company in a research note on Tuesday. Finally, Wedbush boosted their price objective on SVB Financial Group from $325.00 to $350.00 and gave the company a “neutral” rating in a research note on Friday, July 27th. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. SVB Financial Group currently has a consensus rating of “Buy” and a consensus target price of $356.56.
SVB Financial Group 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.
Further Reading: Compound Annual Growth Rate (CAGR)