BlackRock Inc. Has $929.51 Million Holdings in SVB Financial Group (SIVB)
BlackRock Inc. raised its position in shares of SVB Financial Group (NASDAQ:SIVB) by 16.5% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,287,595 shares of the bank’s stock after purchasing an additional 748,591 shares during the period. BlackRock Inc. owned 10.04% of SVB Financial Group worth $929,507,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. BDO Wealth Advisors LLC acquired a new position in SVB Financial Group during the 2nd quarter valued at about $109,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. acquired a new position in SVB Financial Group during the 1st quarter valued at about $117,000. Exane Derivatives acquired a new position in SVB Financial Group during the 2nd quarter valued at about $119,000. Peddock Capital Advisors LLC acquired a new position in SVB Financial Group during the 2nd quarter valued at about $130,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its stake in SVB Financial Group by 79.6% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 774 shares of the bank’s stock valued at $136,000 after purchasing an additional 343 shares during the period. 92.10% of the stock is owned by hedge funds and other institutional investors.
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In other SVB Financial Group news, 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 value of $637,245.00. Following the completion of the sale, the insider now owns 14,064 shares in the company, valued at approximately $2,560,632.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 completion of the sale, the director now owns 6,672 shares of the company’s stock, valued at approximately $1,147,650.72. The disclosure for this sale can be found here. Insiders sold a total of 8,524 shares of company stock valued at $1,534,052 in the last 90 days. Corporate insiders own 0.73% of the company’s stock.
A number of research analysts have issued reports on the stock. Keefe, Bruyette & Woods reissued a “buy” rating and set a $195.00 target price on shares of SVB Financial Group in a research note on Friday, July 14th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $216.00 price target on shares of SVB Financial Group in a research note on Friday, August 11th. Morgan Stanley upped their price target 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. Zacks Investment Research raised shares of SVB Financial Group from a “hold” rating to a “buy” rating and set a $197.00 price target for the company in a research note on Tuesday, July 4th. Finally, Stephens reaffirmed a “buy” rating and issued a $205.00 price target on shares of SVB Financial Group in a research note on Friday, July 28th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. SVB Financial Group has an average rating of “Buy” and an average target price of $202.75.
Shares of SVB Financial Group (NASDAQ SIVB) opened at 172.65 on Tuesday. SVB Financial Group has a 1-year low of $104.84 and a 1-year high of $198.83. The company’s 50-day moving average is $172.18 and its 200 day moving average is $178.84. The firm has a market capitalization of $9.10 billion, a price-to-earnings ratio of 20.98 and a beta of 1.61.
SVB Financial Group (NASDAQ:SIVB) last posted its quarterly earnings data 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. The firm had revenue of $471.70 million during the quarter, compared to analysts’ expectations of $451.96 million. SVB Financial Group had a net margin of 24.36% and a return on equity of 11.27%. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.78 EPS. On average, analysts expect that SVB Financial Group will post $8.99 EPS for the current fiscal year.
About SVB Financial Group
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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