Virtu Financial LLC purchased a new stake in shares of SVB Financial Group (NASDAQ:SIVB) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,292 shares of the bank’s stock, valued at approximately $270,000.
A number of other large investors also recently added to or reduced their stakes in the business. Patriot Financial Group Insurance Agency LLC lifted its position in shares of SVB Financial Group by 3,733.3% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 115 shares of the bank’s stock valued at $25,000 after buying an additional 112 shares in the last quarter. Griffin Asset Management Inc. bought a new stake in SVB Financial Group during the 2nd quarter worth approximately $28,000. Pearl River Capital LLC bought a new stake in SVB Financial Group during the 2nd quarter worth approximately $30,000. Bray Capital Advisors purchased a new position in SVB Financial Group during the third quarter valued at approximately $31,000. Finally, NEXT Financial Group Inc purchased a new position in SVB Financial Group during the second quarter valued at approximately $33,000. 91.91% of the stock is owned by institutional investors and hedge funds.
In related news, insider John China sold 1,000 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $232.62, for a total value of $232,620.00. Following the sale, the insider now owns 19,347 shares in the company, valued at $4,500,499.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gregory W. Becker sold 4,828 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $233.48, for a total transaction of $1,127,241.44. The disclosure for this sale can be found here. Insiders sold 10,176 shares of company stock worth $2,365,131 over the last quarter. 0.73% of the stock is owned by company insiders.
SVB Financial Group (NASDAQ:SIVB) last issued its quarterly earnings data on Thursday, October 24th. The bank reported $5.15 earnings per share for the quarter, beating the Zacks’ consensus estimate of $4.99 by $0.16. SVB Financial Group had a return on equity of 20.38% and a net margin of 33.95%. The firm had revenue of $814.65 million during the quarter, compared to analyst estimates of $805.27 million. During the same quarter last year, the business posted $5.10 earnings per share. The business’s quarterly revenue was up 15.8% compared to the same quarter last year. On average, analysts anticipate that SVB Financial Group will post 21.24 EPS for the current fiscal year.
SIVB has been the subject of a number of analyst reports. SunTrust Banks set a $250.00 price objective on shares of SVB Financial Group and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Piper Jaffray Companies lifted their target price on shares of SVB Financial Group from $250.00 to $255.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. BidaskClub cut shares of SVB Financial Group from a “buy” rating to a “hold” rating in a research note on Tuesday, November 19th. ValuEngine raised shares of SVB Financial Group from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, Barclays cut their price target on SVB Financial Group from $300.00 to $275.00 and set an “overweight” rating for the company in a research note on Thursday, September 12th. Eight analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $260.38.
SVB Financial Group Company 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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