M&T Bank Corp Has $616,000 Position in SVB Financial Group (SIVB)
M&T Bank Corp trimmed its stake in shares of SVB Financial Group (NASDAQ:SIVB) by 11.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,509 shares of the bank’s stock after selling 444 shares during the quarter. M&T Bank Corp’s holdings in SVB Financial Group were worth $616,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BDO Wealth Advisors LLC acquired a new position in SVB Financial Group during the 2nd quarter worth $109,000. Exane Derivatives acquired a new position in SVB Financial Group during the 2nd quarter worth $119,000. Peddock Capital Advisors LLC acquired a new position in SVB Financial Group during the 2nd quarter worth $130,000. Whittier Trust Co. of Nevada Inc. grew 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 worth $136,000 after purchasing an additional 343 shares in the last quarter. Finally, Global X Management Co. LLC grew its stake in SVB Financial Group by 58.6% during the 2nd quarter. Global X Management Co. LLC now owns 782 shares of the bank’s stock worth $137,000 after purchasing an additional 289 shares in the last quarter. 92.12% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Eric Benhamou sold 2,000 shares of the 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 owns 6,672 shares of the company’s stock, valued at $1,147,650.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Philip C. Cox sold 3,024 shares of the stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $182.80, for a total transaction of $552,787.20. Following the transaction, the insider now directly owns 2,872 shares in the company, valued at approximately $525,001.60. The disclosure for this sale can be found here. Insiders have sold 8,524 shares of company stock valued at $1,534,052 over the last 90 days. Insiders own 0.73% of the company’s stock.
Several research analysts recently commented on SIVB shares. ValuEngine raised SVB Financial Group from a “hold” rating to a “buy” rating in a research note on Thursday, August 17th. Stephens reissued a “buy” rating and set a $205.00 target price on shares of SVB Financial Group in a research note on Friday, July 28th. BidaskClub cut SVB Financial Group from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 23rd. Jefferies Group LLC reissued a “buy” rating and set a $216.00 target price on shares of SVB Financial Group in a research note on Sunday, June 11th. Finally, Piper Jaffray Companies reissued a “buy” rating and set a $212.00 target price on shares of SVB Financial Group in a research note on Friday, July 14th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $203.00.
Shares of SVB Financial Group (NASDAQ:SIVB) opened at 187.26 on Friday. SVB Financial Group has a one year low of $112.00 and a one year high of $198.83. The stock has a market capitalization of $9.87 billion, a P/E ratio of 22.76 and a beta of 1.63. The firm’s 50-day moving average price is $173.55 and its 200-day moving average price is $178.00.
SVB Financial Group (NASDAQ:SIVB) last announced its 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. The company had revenue of $471.70 million during the quarter, compared to the consensus estimate of $451.96 million. SVB Financial Group had a return on equity of 11.27% and a net margin of 24.36%. The company’s revenue was up 10.2% on a year-over-year basis. During the same period last year, the firm earned $1.78 earnings per share. Equities research analysts anticipate 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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