Commerce Bank Boosts Position in SVB Financial Group (SIVB)
Commerce Bank boosted its stake in SVB Financial Group (NASDAQ:SIVB) by 15.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,473 shares of the bank’s stock after acquiring an additional 200 shares during the quarter. Commerce Bank’s holdings in SVB Financial Group were worth $259,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of SIVB. Shell Asset Management Co. bought a new stake in SVB Financial Group in the 1st quarter valued at $357,000. Canada Pension Plan Investment Board lifted its position in SVB Financial Group by 53.5% in the 1st quarter. Canada Pension Plan Investment Board now owns 13,200 shares of the bank’s stock valued at $2,456,000 after acquiring an additional 4,600 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. bought a new stake in SVB Financial Group in the 1st quarter valued at $117,000. Great West Life Assurance Co. Can lifted its position in SVB Financial Group by 6.2% in the 1st quarter. Great West Life Assurance Co. Can now owns 36,353 shares of the bank’s stock valued at $6,764,000 after acquiring an additional 2,116 shares in the last quarter. Finally, US Bancorp DE lifted its position in SVB Financial Group by 18.0% in the 1st quarter. US Bancorp DE now owns 4,761 shares of the bank’s stock valued at $887,000 after acquiring an additional 726 shares in the last quarter. 92.17% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Eric Benhamou sold 2,000 shares of the firm’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $172.01, for a total transaction of $344,020.00. Following the transaction, the director now directly owns 6,672 shares of the company’s stock, valued at $1,147,650.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael Descheneaux sold 3,500 shares of the firm’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $182.07, for a total transaction of $637,245.00. Following the transaction, the insider now directly owns 14,064 shares in the company, valued at $2,560,632.48. The disclosure for this sale can be found here. Insiders have sold 8,524 shares of company stock worth $1,534,052 over the last three months. 0.73% of the stock is owned by insiders.
Shares of SVB Financial Group (NASDAQ SIVB) opened at 168.57 on Tuesday. The firm’s 50-day moving average is $173.50 and its 200 day moving average is $179.69. SVB Financial Group has a 12 month low of $103.12 and a 12 month high of $198.83. The company has a market capitalization of $8.88 billion, a PE ratio of 20.49 and a beta of 1.61.
SVB Financial Group (NASDAQ:SIVB) last released its quarterly earnings results on Thursday, July 27th. The bank reported $2.32 earnings per share for the quarter, beating analysts’ consensus estimates of $2.05 by $0.27. SVB Financial Group had a net margin of 24.36% and a return on equity of 11.27%. The company had revenue of $471.70 million for the quarter, compared to analyst estimates of $451.96 million. During the same period last year, the firm earned $1.78 earnings per share. The firm’s revenue was up 10.2% on a year-over-year basis. Equities research analysts predict that SVB Financial Group will post $8.99 EPS for the current year.
Several research firms recently commented on SIVB. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $195.00 price objective on shares of SVB Financial Group in a research report on Friday, July 14th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $216.00 price objective on shares of SVB Financial Group in a research report on Friday, August 11th. Morgan Stanley boosted their price objective on shares of SVB Financial Group from $208.00 to $210.00 and gave the company an “overweight” rating in a research report on Tuesday, June 6th. Zacks Investment Research raised shares of SVB Financial Group from a “hold” rating to a “buy” rating and set a $197.00 price objective on the stock in a research report on Tuesday, July 4th. Finally, Stephens reissued a “buy” rating and set a $205.00 price target on shares of SVB Financial Group in a research report on Friday, July 28th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $202.75.
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.
Want to see what other hedge funds are holding SIVB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SVB Financial Group (NASDAQ:SIVB).
Receive News & Stock Ratings for SVB Financial Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SVB Financial Group and related stocks with our FREE daily email newsletter.