Poplar Forest Capital LLC raised its holdings in shares of SVB Financial Group (NASDAQ:SIVB) by 24.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,135 shares of the bank’s stock after purchasing an additional 4,199 shares during the quarter. Poplar Forest Capital LLC’s holdings in SVB Financial Group were worth $6,569,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in SIVB. Security National Trust Co. bought a new position in shares of SVB Financial Group in the second quarter worth $116,000. Price Capital Management Inc. bought a new position in shares of SVB Financial Group in the third quarter worth $124,000. Stratos Wealth Partners LTD. bought a new position in shares of SVB Financial Group in the third quarter worth $146,000. Signaturefd LLC increased its position in shares of SVB Financial Group by 341.2% in the second quarter. Signaturefd LLC now owns 503 shares of the bank’s stock worth $145,000 after purchasing an additional 389 shares during the period. Finally, Advisors Preferred LLC bought a new position in shares of SVB Financial Group in the second quarter worth $167,000. 88.18% of the stock is owned by institutional investors and hedge funds.
SVB Financial Group stock traded up $2.52 during midday trading on Wednesday, reaching $249.07. The company’s stock had a trading volume of 168,744 shares, compared to its average volume of 925,842. SVB Financial Group has a 52 week low of $204.32 and a 52 week high of $333.74. The company has a quick ratio of 0.60, a current ratio of 0.63 and a debt-to-equity ratio of 0.14. The stock has a market cap of $12.99 billion, a PE ratio of 25.13, a P/E/G ratio of 1.36 and a beta of 1.68.
SVB Financial Group (NASDAQ:SIVB) last released its earnings results on Thursday, October 25th. The bank reported $5.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $4.44 by $0.66. The firm had revenue of $703.29 million for the quarter, compared to analysts’ expectations of $664.51 million. SVB Financial Group had a return on equity of 18.39% and a net margin of 32.44%. As a group, analysts expect that SVB Financial Group will post 17.93 earnings per share for the current year.
SIVB has been the topic of a number of recent analyst reports. SunTrust Banks decreased their price target on SVB Financial Group from $350.00 to $270.00 and set an “average” rating on the stock in a research report on Monday, October 29th. They noted that the move was a valuation call. Zacks Investment Research upgraded SVB Financial Group from a “hold” rating to a “buy” rating and set a $339.00 price target on the stock in a research report on Tuesday, July 17th. Stephens restated a “buy” rating and issued a $350.00 price target on shares of SVB Financial Group in a research report on Friday, July 13th. Sandler O’Neill restated a “buy” rating on shares of SVB Financial Group in a research report on Friday, July 27th. Finally, Piper Jaffray Companies restated a “buy” rating and issued a $384.00 price target on shares of SVB Financial Group in a research report on Friday, July 27th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $349.22.
In related news, insider Michael Descheneaux sold 1,750 shares of SVB Financial Group stock in a transaction that occurred on Thursday, November 1st. The stock was sold at an average price of $239.73, for a total value of $419,527.50. Following the transaction, the insider now directly owns 18,289 shares of the company’s stock, valued at $4,384,421.97. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John F. Robinson sold 500 shares of SVB Financial Group stock in a transaction that occurred on Monday, September 10th. The stock was 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 $1,625,859.19. The disclosure for this sale can be found here. Insiders own 0.74% of the company’s stock.
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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.
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