SVB Financial Group (SIVB) Shares Bought by Harbour Capital Advisors LLC
Harbour Capital Advisors LLC increased its holdings in shares of SVB Financial Group (NASDAQ:SIVB) by 1.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,141 shares of the bank’s stock after purchasing an additional 102 shares during the quarter. Harbour Capital Advisors LLC’s holdings in SVB Financial Group were worth $1,588,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in SIVB. Norges Bank bought a new position in SVB Financial Group during the fourth quarter valued at approximately $89,402,000. Deutsche Bank AG boosted its stake in SVB Financial Group by 74.9% during the fourth quarter. Deutsche Bank AG now owns 526,495 shares of the bank’s stock valued at $99,983,000 after buying an additional 225,422 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in SVB Financial Group by 16.8% during the third quarter. Bank of New York Mellon Corp now owns 1,525,038 shares of the bank’s stock valued at $474,028,000 after buying an additional 219,000 shares during the last quarter. Sarasin & Partners LLP bought a new position in SVB Financial Group during the fourth quarter valued at approximately $40,464,000. Finally, CI Investments Inc. bought a new position in SVB Financial Group during the fourth quarter valued at approximately $39,902,000. Hedge funds and other institutional investors own 91.12% of the company’s stock.
Shares of NASDAQ:SIVB traded down $0.87 during trading on Wednesday, hitting $248.88. The company had a trading volume of 571,140 shares, compared to its average volume of 504,971. The firm has a market capitalization of $13.15 billion, a price-to-earnings ratio of 13.65, a PEG ratio of 1.60 and a beta of 2.01. SVB Financial Group has a one year low of $177.70 and a one year high of $333.74. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.65 and a quick ratio of 0.65.
In other news, insider John China sold 11,200 shares of the stock in a transaction that occurred on Thursday, February 28th. The stock was sold at an average price of $249.12, for a total value of $2,790,144.00. Following the sale, the insider now directly owns 22,172 shares in the company, valued at $5,523,488.64. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Christopher Edmonds-Waters sold 3,669 shares of the stock in a transaction that occurred on Thursday, February 14th. The stock was sold at an average price of $242.39, for a total value of $889,328.91. Following the completion of the sale, the insider now owns 6,020 shares in the company, valued at $1,459,187.80. The disclosure for this sale can be found here. Insiders sold a total of 16,617 shares of company stock valued at $4,096,266 over the last ninety days. Corporate insiders own 0.73% of the company’s stock.
A number of equities analysts recently commented on SIVB shares. Bank of America set a $280.00 price target on SVB Financial Group and gave the company a “buy” rating in a research note on Tuesday, March 5th. SunTrust Banks increased their price target on SVB Financial Group to $280.00 and gave the company a “buy” rating in a research note on Monday, January 28th. They noted that the move was a valuation call. Zacks Investment Research raised SVB Financial Group from a “hold” rating to a “buy” rating and set a $242.00 price target for the company in a research note on Tuesday, January 15th. Piper Jaffray Companies set a $291.00 price target on SVB Financial Group and gave the company a “buy” rating in a research note on Friday, January 25th. Finally, ValuEngine raised SVB Financial Group from a “sell” rating to a “hold” rating in a research note on Saturday, January 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $315.07.
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About SVB Financial Group
SVB Financial Group, a diversified financial services company, provides various banking and financial products and services. The company operates through three segments: Global Commercial Bank, SVB Private Bank, and SVB Capital. The Global Commercial Bank segment offers deposit products, such as business and analysis checking, money market, multi-currency, in-country bank, and sweep accounts, as well as merchant, remote capture, lockbox, electronic deposit capture, and fraud control services; credit products and services comprising term loans, equipment loans, asset-based loans, revolving lines of credit, accounts-receivable-based lines of credit, capital call lines of credit, and credit cards; and payment and cash management products and services, including wire transfer and automated clearing house payment, bill pay, debit and credit cards, account analysis, and disbursement, as well as online and mobile banking services.
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