Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of SVB Financial Group (NASDAQ:SIVB) by 5.9% in the first quarter, Holdings Channel reports. The firm owned 3,077 shares of the bank’s stock after buying an additional 172 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in SVB Financial Group were worth $684,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of SVB Financial Group during the 4th quarter worth approximately $89,402,000. Deutsche Bank AG lifted its position in shares of SVB Financial Group by 74.9% during the 4th quarter. Deutsche Bank AG now owns 526,495 shares of the bank’s stock worth $99,983,000 after buying an additional 225,422 shares in the last quarter. Sarasin & Partners LLP bought a new position in shares of SVB Financial Group during the 4th quarter worth approximately $40,464,000. CI Investments Inc. bought a new position in shares of SVB Financial Group during the 4th quarter worth approximately $39,902,000. Finally, Vanguard Group Inc lifted its position in shares of SVB Financial Group by 2.2% during the 3rd quarter. Vanguard Group Inc now owns 5,596,383 shares of the bank’s stock worth $1,739,523,000 after buying an additional 121,374 shares in the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.
NASDAQ:SIVB opened at $224.60 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $11.82 billion, a P/E ratio of 12.32, a P/E/G ratio of 1.55 and a beta of 2.03. SVB Financial Group has a 12 month low of $177.70 and a 12 month high of $333.74.
In related news, insider Christopher Edmonds-Waters sold 204 shares of SVB Financial Group stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $256.01, for a total value of $52,226.04. Following the sale, the insider now owns 3,494 shares of the company’s stock, valued at approximately $894,498.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael Descheneaux sold 6,000 shares of the business’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $239.55, for a total transaction of $1,437,300.00. Following the sale, the insider now directly owns 23,811 shares in the company, valued at approximately $5,703,925.05. The disclosure for this sale can be found here. Insiders sold a total of 20,383 shares of company stock worth $5,003,767 in the last ninety days. 0.73% of the stock is currently owned by insiders.
Several research firms have commented on SIVB. BidaskClub raised shares of SVB Financial Group from a “sell” rating to a “hold” rating in a research report on Saturday, May 4th. ValuEngine cut shares of SVB Financial Group from a “hold” rating to a “sell” rating in a research report on Monday, April 29th. Maxim Group dropped their target price on shares of SVB Financial Group to $325.00 and set a “buy” rating on the stock in a research report on Monday, April 29th. Bank of America set a $280.00 target price on shares of SVB Financial Group and gave the stock a “buy” rating in a research report on Tuesday, March 5th. Finally, SunTrust Banks lifted their target price on shares of SVB Financial Group to $280.00 and gave the stock a “buy” rating in a research report on Monday, January 28th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $309.60.
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SVB Financial Group Profile
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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