Texas Permanent School Fund lowered its position in SVB Financial Group (NASDAQ:SIVB) by 4.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,600 shares of the bank’s stock after selling 490 shares during the period. Texas Permanent School Fund’s holdings in SVB Financial Group were worth $2,006,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in SIVB. Patriot Financial Group Insurance Agency LLC raised its holdings in shares of SVB Financial Group by 3,733.3% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 115 shares of the bank’s stock valued at $25,000 after purchasing an additional 112 shares during the last quarter. Griffin Asset Management Inc. purchased a new stake in SVB Financial Group during the second quarter worth about $28,000. Pearl River Capital LLC purchased a new stake in SVB Financial Group during the second quarter worth about $30,000. Bray Capital Advisors purchased a new stake in SVB Financial Group during the third quarter worth about $31,000. Finally, NEXT Financial Group Inc purchased a new stake in SVB Financial Group during the second quarter worth about $33,000. Institutional investors own 91.48% of the company’s stock.
Shares of NASDAQ:SIVB opened at $238.60 on Friday. The firm has a market capitalization of $12.35 billion, a PE ratio of 13.09, a P/E/G ratio of 1.41 and a beta of 2.17. SVB Financial Group has a twelve month low of $177.70 and a twelve month high of $263.16. The company has a 50-day moving average price of $211.88 and a two-hundred day moving average price of $216.82. The company has a quick ratio of 0.71, a current ratio of 0.66 and a debt-to-equity ratio of 0.12.
SVB Financial Group (NASDAQ:SIVB) last posted its quarterly earnings results on Thursday, October 24th. The bank reported $5.15 EPS for the quarter, topping the consensus estimate of $4.99 by $0.16. The firm had revenue of $814.65 million for the quarter, compared to the consensus estimate of $805.27 million. SVB Financial Group had a net margin of 33.95% and a return on equity of 20.38%. The business’s revenue was up 15.8% compared to the same quarter last year. During the same period last year, the firm posted $5.10 earnings per share. Analysts anticipate that SVB Financial Group will post 21.29 earnings per share for the current fiscal year.
In related news, insider Philip C. Cox sold 848 shares of SVB Financial Group stock in a transaction on Friday, September 13th. The shares were sold at an average price of $225.00, for a total value of $190,800.00. Following the transaction, the insider now directly owns 8,264 shares of the company’s stock, valued at $1,859,400. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Michael Descheneaux sold 2,500 shares of SVB Financial Group stock in a transaction on Monday, November 4th. The stock was sold at an average price of $236.12, for a total transaction of $590,300.00. Following the completion of the transaction, the insider now directly owns 21,938 shares in the company, valued at $5,180,000.56. The disclosure for this sale can be found here. Insiders have sold 4,348 shares of company stock worth $1,005,270 over the last three months. Insiders own 0.73% of the company’s stock.
A number of analysts recently issued reports on SIVB shares. Morgan Stanley raised their price objective on shares of SVB Financial Group from $265.00 to $270.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. Royal Bank of Canada set a $265.00 price objective on shares of SVB Financial Group and gave the stock a “buy” rating in a report on Friday, October 25th. Wedbush raised their price objective on shares of SVB Financial Group from $222.00 to $230.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. SunTrust Banks set a $250.00 price objective on shares of SVB Financial Group and gave the stock a “buy” rating in a report on Wednesday, September 18th. Finally, Stephens restated a “buy” rating and set a $250.00 price objective on shares of SVB Financial Group in a report on Tuesday, September 17th. Eight equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. SVB Financial Group currently has an average rating of “Buy” and an average target price of $260.38.
SVB Financial Group Company Profile
SVB Financial Group, a diversified financial services company, provides various banking and financial products and services. The company operates through three segments: Global Commercial Bank, SVB Private Bank, and SVB Capital. The 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 and credit cards, account analysis, and disbursement, as well as online and mobile banking services.
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