GW&K Investment Management LLC Boosts Position in SVB Financial Group (SIVB)
GW&K Investment Management LLC raised its holdings in SVB Financial Group (NASDAQ:SIVB) by 0.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 178,962 shares of the bank’s stock after acquiring an additional 692 shares during the quarter. GW&K Investment Management LLC’s holdings in SVB Financial Group were worth $41,836,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of SIVB. Wells Fargo & Company MN lifted its stake in SVB Financial Group by 75.9% in the second quarter. Wells Fargo & Company MN now owns 99,690 shares of the bank’s stock valued at $17,525,000 after acquiring an additional 43,016 shares during the last quarter. TIAA CREF Investment Management LLC lifted its stake in SVB Financial Group by 19.1% in the second quarter. TIAA CREF Investment Management LLC now owns 188,759 shares of the bank’s stock valued at $33,182,000 after acquiring an additional 30,231 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in SVB Financial Group by 2.1% in the second quarter. Ameriprise Financial Inc. now owns 186,193 shares of the bank’s stock valued at $32,731,000 after acquiring an additional 3,889 shares during the last quarter. BT Investment Management Ltd acquired a new stake in SVB Financial Group in the second quarter valued at approximately $734,000. Finally, Stevens Capital Management LP acquired a new stake in SVB Financial Group in the second quarter valued at approximately $1,644,000. Hedge funds and other institutional investors own 91.71% of the company’s stock.
In related news, Director Eric Benhamou sold 2,000 shares of the business’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $226.01, for a total transaction of $452,020.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Gregory W. Becker sold 9,511 shares of the business’s stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $232.68, for a total transaction of $2,213,019.48. The disclosure for this sale can be found here. In the last three months, insiders sold 20,291 shares of company stock worth $4,558,918. Insiders own 0.73% of the company’s stock.
SVB Financial Group (SIVB) traded up $2.33 during trading hours on Friday, hitting $256.32. 378,165 shares of the stock were exchanged, compared to its average volume of 375,515. SVB Financial Group has a 12 month low of $159.44 and a 12 month high of $257.24. The company has a market capitalization of $13,428.84, a price-to-earnings ratio of 28.77, a price-to-earnings-growth ratio of 1.73 and a beta of 1.62. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.59 and a current ratio of 0.59.
SVB Financial Group (NASDAQ:SIVB) last released its quarterly earnings results on Thursday, October 26th. The bank reported $2.79 EPS for the quarter, beating the Zacks’ consensus estimate of $2.29 by $0.50. SVB Financial Group had a net margin of 25.07% and a return on equity of 11.88%. The company had revenue of $533.40 million for the quarter, compared to analyst estimates of $490.56 million. During the same quarter last year, the firm posted $2.12 earnings per share. The company’s quarterly revenue was up 23.0% compared to the same quarter last year. research analysts expect that SVB Financial Group will post 9.63 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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