SVB Financial Group (SIVB) Stake Lessened by Wells Fargo & Company MN
Wells Fargo & Company MN cut its stake in shares of SVB Financial Group (NASDAQ:SIVB) by 20.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 86,009 shares of the bank’s stock after selling 21,464 shares during the quarter. Wells Fargo & Company MN’s holdings in SVB Financial Group were worth $20,106,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in SIVB. First Trust Advisors LP raised its position in SVB Financial Group by 24.4% during the fourth quarter. First Trust Advisors LP now owns 156,243 shares of the bank’s stock valued at $36,525,000 after buying an additional 30,607 shares during the period. Bailard Inc. acquired a new position in SVB Financial Group during the fourth quarter valued at $233,000. Pinnacle Financial Partners Inc. acquired a new position in SVB Financial Group during the fourth quarter valued at $214,000. New Mexico Educational Retirement Board acquired a new position in SVB Financial Group during the fourth quarter valued at $3,039,000. Finally, Penserra Capital Management LLC acquired a new position in SVB Financial Group during the fourth quarter valued at $8,336,000. 89.17% of the stock is currently owned by institutional investors.
SVB Financial Group (NASDAQ:SIVB) opened at $270.72 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.59 and a quick ratio of 0.59. SVB Financial Group has a 52 week low of $159.44 and a 52 week high of $271.79. The company has a market capitalization of $14,610.00, a PE ratio of 27.35, a price-to-earnings-growth ratio of 1.74 and a beta of 1.43.
In other SVB Financial Group news, insider Gregory W. Becker sold 4,500 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $243.49, for a total value of $1,095,705.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Philip C. Cox sold 1,175 shares of the business’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $252.77, for a total value of $297,004.75. Following the completion of the transaction, the insider now owns 4,097 shares in the company, valued at approximately $1,035,598.69. The disclosure for this sale can be found here. Insiders sold 8,185 shares of company stock worth $2,017,574 in the last 90 days. Corporate insiders own 0.73% of the company’s stock.
Several research analysts recently weighed in on SIVB shares. Jefferies Group reissued a “buy” rating on shares of SVB Financial Group in a research report on Friday, January 26th. Stephens reissued a “buy” rating on shares of SVB Financial Group in a research report on Friday, January 26th. SunTrust Banks upped their price target on SVB Financial Group to $300.00 and gave the company a “buy” rating in a research report on Friday, January 26th. Maxim Group reissued a “buy” rating and set a $300.00 price target (up from $250.00) on shares of SVB Financial Group in a research report on Wednesday, January 10th. Finally, Zacks Investment Research raised SVB Financial Group from a “hold” rating to a “buy” rating and set a $271.00 price target on the stock in a research report on Wednesday, December 27th. Five equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $248.62.
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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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