Monetta Financial Services Inc. Acquires New Holdings in SVB Financial Group (NASDAQ:SIVB)

Monetta Financial Services Inc. acquired a new stake in SVB Financial Group (NASDAQ:SIVBGet Rating) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,000 shares of the bank’s stock, valued at approximately $559,000.

Several other hedge funds also recently modified their holdings of the company. Savant Capital LLC boosted its stake in shares of SVB Financial Group by 1.9% during the 4th quarter. Savant Capital LLC now owns 903 shares of the bank’s stock worth $612,000 after purchasing an additional 17 shares during the last quarter. RFG Advisory LLC boosted its stake in shares of SVB Financial Group by 4.5% during the 4th quarter. RFG Advisory LLC now owns 466 shares of the bank’s stock worth $316,000 after purchasing an additional 20 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in shares of SVB Financial Group by 6.4% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 349 shares of the bank’s stock worth $195,000 after purchasing an additional 21 shares during the last quarter. Clearstead Advisors LLC lifted its holdings in shares of SVB Financial Group by 6.0% during the 1st quarter. Clearstead Advisors LLC now owns 390 shares of the bank’s stock worth $218,000 after acquiring an additional 22 shares during the period. Finally, Siemens Fonds Invest GmbH lifted its holdings in shares of SVB Financial Group by 3.9% during the 4th quarter. Siemens Fonds Invest GmbH now owns 608 shares of the bank’s stock worth $413,000 after acquiring an additional 23 shares during the period. 88.80% of the stock is owned by institutional investors and hedge funds.

SVB Financial Group Stock Down 0.7 %

Shares of SIVB stock traded down $3.05 during mid-day trading on Friday, reaching $413.21. 302,509 shares of the company were exchanged, compared to its average volume of 594,565. SVB Financial Group has a fifty-two week low of $355.37 and a fifty-two week high of $763.22. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.46 and a current ratio of 0.46. The company has a market capitalization of $24.32 billion, a P/E ratio of 15.90, a P/E/G ratio of 1.70 and a beta of 1.75. The business’s 50 day simple moving average is $419.74 and its 200 day simple moving average is $502.14.

SVB Financial Group (NASDAQ:SIVBGet Rating) last released its quarterly earnings data on Thursday, July 21st. The bank reported $5.60 EPS for the quarter, missing analysts’ consensus estimates of $7.76 by ($2.16). SVB Financial Group had a return on equity of 13.43% and a net margin of 25.58%. During the same quarter last year, the company posted $9.09 earnings per share. Research analysts predict that SVB Financial Group will post 30.59 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on SIVB shares. JPMorgan Chase & Co. cut their price objective on shares of SVB Financial Group from $875.00 to $650.00 and set an “overweight” rating on the stock in a report on Friday, July 1st. Raymond James cut their price objective on shares of SVB Financial Group from $565.00 to $480.00 in a report on Friday, July 22nd. Wells Fargo & Company cut their price target on shares of SVB Financial Group from $650.00 to $550.00 in a report on Friday, July 22nd. Barclays cut their price target on shares of SVB Financial Group from $789.00 to $638.00 and set an “equal weight” rating on the stock in a report on Monday, July 25th. Finally, Jefferies Financial Group cut their price target on shares of SVB Financial Group from $534.00 to $498.00 in a report on Monday, July 11th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, SVB Financial Group currently has an average rating of “Moderate Buy” and a consensus price target of $574.73.

Insiders Place Their Bets

In other SVB Financial Group news, Director Garen K. Staglin sold 500 shares of SVB Financial Group stock in a transaction on Tuesday, June 7th. The shares were sold at an average price of $484.41, for a total value of $242,205.00. Following the completion of the transaction, the director now owns 13,680 shares of the company’s stock, valued at $6,626,728.80. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.62% of the stock is currently owned by corporate insiders.

About SVB Financial Group

(Get Rating)

SVB Financial Group, a diversified financial services company, offers various banking and financial products and services. It operates through four segments: Global Commercial Bank, SVB Private Bank, SVB Capital, and SVB Securities. The Global Commercial Bank segment provides commercial banking products and services, including credit, treasury management, foreign exchange, trade finance, and other financial products and services.

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Institutional Ownership by Quarter for SVB Financial Group (NASDAQ:SIVB)

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