Peddock Capital Advisors LLC Acquires New Position in SVB Financial Group (SIVB)
Peddock Capital Advisors LLC acquired a new position in SVB Financial Group (NASDAQ:SIVB) during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 740 shares of the bank’s stock, valued at approximately $130,000.
Other large investors have also recently made changes to their positions in the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. purchased a new stake in shares of SVB Financial Group during the first quarter worth about $117,000. Exane Derivatives purchased a new stake in shares of SVB Financial Group during the second quarter worth about $119,000. Whittier Trust Co. of Nevada Inc. increased its stake in shares of SVB Financial Group by 79.6% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 774 shares of the bank’s stock worth $136,000 after buying an additional 343 shares during the last quarter. Global X Management Co. LLC increased its stake in shares of SVB Financial Group by 58.6% in the second quarter. Global X Management Co. LLC now owns 782 shares of the bank’s stock worth $137,000 after buying an additional 289 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its stake in shares of SVB Financial Group by 11.7% in the first quarter. Nomura Asset Management Co. Ltd. now owns 860 shares of the bank’s stock worth $160,000 after buying an additional 90 shares during the last quarter. Hedge funds and other institutional investors own 95.52% of the company’s stock.
SVB Financial Group (NASDAQ:SIVB) opened at 164.84 on Tuesday. The company has a market cap of $8.69 billion, a price-to-earnings ratio of 20.03 and a beta of 1.59. SVB Financial Group has a one year low of $103.12 and a one year high of $198.83. The company has a 50-day moving average of $178.48 and a 200-day moving average of $181.06.
SVB Financial Group (NASDAQ:SIVB) last issued its quarterly earnings results on Thursday, July 27th. The bank reported $2.32 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.27. SVB Financial Group had a return on equity of 11.27% and a net margin of 24.36%. The firm had revenue of $471.70 million during the quarter, compared to the consensus estimate of $451.96 million. During the same period last year, the company earned $1.78 earnings per share. The company’s revenue was up 10.2% on a year-over-year basis. Equities research analysts expect that SVB Financial Group will post $8.99 EPS for the current fiscal year.
A number of brokerages have issued reports on SIVB. ValuEngine upgraded shares of SVB Financial Group from a “hold” rating to a “buy” rating in a research note on Thursday, August 17th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $195.00 price objective on shares of SVB Financial Group in a research note on Friday, July 14th. Jefferies Group LLC reiterated a “buy” rating and set a $216.00 price objective on shares of SVB Financial Group in a research note on Friday, August 11th. Morgan Stanley increased their price objective on shares of SVB Financial Group from $208.00 to $210.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 6th. Finally, Zacks Investment Research upgraded shares of SVB Financial Group from a “hold” rating to a “buy” rating and set a $197.00 price target on the stock in a research note on Tuesday, July 4th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. SVB Financial Group currently has an average rating of “Buy” and an average target price of $202.75.
In related news, insider Michael Descheneaux sold 3,500 shares of the stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $182.07, for a total transaction of $637,245.00. Following the sale, the insider now directly owns 14,064 shares of the company’s stock, valued at $2,560,632.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Philip C. Cox sold 3,024 shares of the stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $182.80, for a total value of $552,787.20. Following the sale, the insider now directly owns 2,872 shares in the company, valued at $525,001.60. The disclosure for this sale can be found here. 0.73% of the stock is owned by company insiders.
SVB Financial Group Company Profile
SVB Financial Group is a financial services company, as well as a bank holding and a financial holding company. The Company’s segments include Global Commercial Bank, SVB Private Bank and SVB Capital. The Global Commercial Bank segment consists of the operations of its Commercial Bank, and of SVB Wine, SVB Analytics and its Debt Fund Investments.
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