Nomura Asset Management Co. Ltd. increased its position in SVB Financial Group (NASDAQ:SIVB) by 3.1% during the 2nd quarter, HoldingsChannel reports. The firm owned 7,809 shares of the bank’s stock after acquiring an additional 238 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in SVB Financial Group were worth $2,255,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Maltese Capital Management LLC bought a new stake in SVB Financial Group during the 1st quarter valued at $11,136,000. Aviva PLC boosted its position in SVB Financial Group by 5.2% during the 2nd quarter. Aviva PLC now owns 91,715 shares of the bank’s stock valued at $26,484,000 after acquiring an additional 4,508 shares in the last quarter. Wells Fargo & Company MN boosted its position in SVB Financial Group by 46.5% during the 1st quarter. Wells Fargo & Company MN now owns 125,985 shares of the bank’s stock valued at $30,237,000 after acquiring an additional 39,976 shares in the last quarter. Legal & General Group Plc boosted its position in SVB Financial Group by 125.1% during the 1st quarter. Legal & General Group Plc now owns 234,652 shares of the bank’s stock valued at $56,319,000 after acquiring an additional 130,431 shares in the last quarter. Finally, Kiwi Wealth Investments Limited Partnership bought a new stake in SVB Financial Group during the 1st quarter valued at $10,905,000. 90.56% of the stock is currently owned by institutional investors.
Several analysts have issued reports on SIVB shares. Piper Jaffray Companies increased their target price on SVB Financial Group to $327.00 and gave the company an “overweight” rating in a research report on Friday, April 27th. They noted that the move was a valuation call. FIG Partners raised SVB Financial Group from a “market perform” rating to an “outperform” rating in a research report on Friday, April 27th. Barclays increased their target price on SVB Financial Group from $277.00 to $328.00 and gave the company an “equal weight” rating in a research report on Friday, April 27th. Wedbush increased their target price on SVB Financial Group from $263.00 to $315.00 and gave the company a “neutral” rating in a research report on Friday, April 27th. Finally, ValuEngine raised SVB Financial Group from a “hold” rating to a “buy” rating in a research report on Friday, April 27th. Four equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $352.94.
Shares of SIVB opened at $320.76 on Friday. SVB Financial Group has a 12 month low of $159.44 and a 12 month high of $333.74. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.14. The firm has a market cap of $16.86 billion, a PE ratio of 32.37, a price-to-earnings-growth ratio of 1.68 and a beta of 1.49.
SVB Financial Group (NASDAQ:SIVB) last issued its quarterly earnings data on Thursday, July 26th. The bank reported $4.42 EPS for the quarter, beating the 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 firm had revenue of $659.10 million during the quarter, compared to analyst estimates of $612.75 million. During the same quarter in the prior year, the business posted $2.32 EPS. The business’s revenue for the quarter was up 39.9% compared to the same quarter last year. analysts forecast that SVB Financial Group will post 17.19 earnings per share for the current year.
In other news, Director John F. Robinson sold 500 shares of the stock in a transaction on Tuesday, July 10th. The stock was sold at an average price of $304.25, for a total transaction of $152,125.00. Following the completion of the sale, the director now owns 5,517 shares in the company, valued at approximately $1,678,547.25. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Kate Mitchell sold 737 shares of the stock in a transaction on Wednesday, May 30th. The shares were sold at an average price of $314.78, for a total value of $231,992.86. Following the sale, the director now owns 7,949 shares of the company’s stock, valued at approximately $2,502,186.22. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,109 shares of company stock valued at $6,664,724. Company insiders own 0.74% of the company’s stock.
About SVB Financial Group
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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