5,511 Shares in SVB Financial Group (SIVB) Acquired by Seven Eight Capital LP
Seven Eight Capital LP bought a new position in SVB Financial Group (NASDAQ:SIVB) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 5,511 shares of the bank’s stock, valued at approximately $969,000.
Several other institutional investors and hedge funds have also recently made changes to their positions in SIVB. Shell Asset Management Co. acquired a new position in shares of SVB Financial Group in the first quarter worth about $357,000. Canada Pension Plan Investment Board boosted its holdings in shares of SVB Financial Group by 53.5% during the first quarter. Canada Pension Plan Investment Board now owns 13,200 shares of the bank’s stock worth $2,456,000 after purchasing an additional 4,600 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. acquired a new stake in shares of SVB Financial Group during the first quarter worth approximately $117,000. US Bancorp DE boosted its holdings in shares of SVB Financial Group by 18.0% during the first quarter. US Bancorp DE now owns 4,761 shares of the bank’s stock worth $887,000 after purchasing an additional 726 shares during the period. Finally, Swiss National Bank boosted its holdings in shares of SVB Financial Group by 0.7% during the first quarter. Swiss National Bank now owns 86,100 shares of the bank’s stock worth $16,022,000 after purchasing an additional 600 shares during the period. Institutional investors own 92.17% of the company’s stock.
Several research firms recently commented on SIVB. Zacks Investment Research cut shares of SVB Financial Group from a “buy” rating to a “hold” rating in a report on Friday, July 7th. Wedbush restated a “neutral” rating and set a $192.00 price target on shares of SVB Financial Group in a report on Tuesday, June 27th. Keefe, Bruyette & Woods restated a “buy” rating and set a $195.00 price target on shares of SVB Financial Group in a report on Friday, July 14th. Jefferies Group LLC restated a “buy” rating and set a $216.00 price target on shares of SVB Financial Group in a report on Friday, August 11th. Finally, BidaskClub upgraded shares of SVB Financial Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 14th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $202.75.
SVB Financial Group (NASDAQ SIVB) opened at 170.59 on Friday. SVB Financial Group has a 52-week low of $104.84 and a 52-week high of $198.83. The company has a market cap of $8.99 billion, a price-to-earnings ratio of 20.73 and a beta of 1.61. The stock has a 50 day moving average of $172.31 and a 200-day moving average of $179.20.
SVB Financial Group (NASDAQ:SIVB) last announced its quarterly earnings data on Thursday, July 27th. The bank reported $2.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $471.70 million for the quarter, compared to analysts’ expectations of $451.96 million. During the same quarter in the prior year, the business posted $1.78 EPS. The business’s revenue was up 10.2% compared to the same quarter last year. On average, analysts forecast that SVB Financial Group will post $8.99 EPS for the current year.
In other news, insider Philip C. Cox sold 3,024 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $182.80, for a total transaction of $552,787.20. Following the sale, the insider now owns 2,872 shares in the company, valued at approximately $525,001.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Eric Benhamou sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $172.01, for a total value of $344,020.00. Following the sale, the director now owns 6,672 shares in the company, valued at approximately $1,147,650.72. The disclosure for this sale can be found here. In the last quarter, insiders have sold 8,524 shares of company stock worth $1,534,052. Company insiders own 0.73% of the company’s stock.
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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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