ING Groep NV Has $1.76 Million Position in SVB Financial Group (NASDAQ:SIVB)

ING Groep NV grew its stake in SVB Financial Group (NASDAQ:SIVB) by 4.0% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 3,573 shares of the bank’s stock after buying an additional 137 shares during the period. ING Groep NV’s holdings in SVB Financial Group were worth $1,764,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of SIVB. SOA Wealth Advisors LLC. acquired a new stake in shares of SVB Financial Group in the fourth quarter valued at about $26,000. Veriti Management LLC acquired a new stake in shares of SVB Financial Group in the fourth quarter valued at about $29,000. IronBridge Private Wealth LLC acquired a new stake in shares of SVB Financial Group in the fourth quarter valued at about $29,000. Abundance Wealth Counselors acquired a new stake in shares of SVB Financial Group in the first quarter valued at about $31,000. Finally, Valeo Financial Advisors LLC acquired a new stake in shares of SVB Financial Group in the first quarter valued at about $37,000. 90.00% of the stock is owned by institutional investors.

Several equities research analysts have recently weighed in on the company. Raymond James reissued an “outperform” rating and issued a $600.00 price target (up previously from $564.00) on shares of SVB Financial Group in a research note on Thursday, April 29th. Zacks Investment Research cut SVB Financial Group from a “strong-buy” rating to a “hold” rating and set a $547.00 target price for the company. in a research note on Tuesday, March 23rd. Janney Montgomery Scott raised SVB Financial Group from a “neutral” rating to a “buy” rating and set a $600.00 target price for the company in a research note on Friday, April 23rd. Maxim Group raised their target price on SVB Financial Group from $600.00 to $700.00 in a research note on Monday, April 26th. Finally, JPMorgan Chase & Co. raised their target price on SVB Financial Group from $650.00 to $725.00 in a research note on Friday, April 23rd. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $566.60.

In other news, CFO Daniel J. Beck sold 4,646 shares of the firm’s stock in a transaction that occurred on Monday, June 7th. The stock was sold at an average price of $597.61, for a total value of $2,776,496.06. Following the transaction, the chief financial officer now owns 4,804 shares in the company, valued at $2,870,918.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Karen Hon sold 421 shares of the firm’s stock in a transaction that occurred on Monday, May 3rd. The shares were sold at an average price of $576.71, for a total value of $242,794.91. Following the completion of the transaction, the chief accounting officer now owns 3,524 shares in the company, valued at approximately $2,032,326.04. The disclosure for this sale can be found here. Insiders sold 5,325 shares of company stock worth $3,168,819 in the last 90 days. Corporate insiders own 0.68% of the company’s stock.

Shares of NASDAQ:SIVB opened at $566.47 on Friday. The business has a 50 day moving average price of $555.29. The company has a market capitalization of $30.77 billion, a price-to-earnings ratio of 18.68, a P/E/G ratio of 2.55 and a beta of 2.07. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.15. SVB Financial Group has a 52-week low of $199.70 and a 52-week high of $608.84.

SVB Financial Group (NASDAQ:SIVB) last announced its quarterly earnings results on Thursday, April 22nd. The bank reported $10.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.94 by $3.09. SVB Financial Group had a return on equity of 20.13% and a net margin of 34.63%. The business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same quarter in the prior year, the company earned $2.55 earnings per share. The company’s quarterly revenue was up 69.9% on a year-over-year basis. On average, equities research analysts expect that SVB Financial Group will post 28.31 earnings per share for the current year.

SVB Financial Group Profile

SVB Financial Group, a diversified financial services company, provides various banking and financial products and services. The company operates through four segments: Global Commercial Bank, SVB Private Bank, SVB Capital, and SVB Leerink. 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 solutions comprising term loans, equipment and asset-based loans, revolving lines of credit, and credit card programs, as well as mezzanine lending, acquisition finance, and corporate working capital facilities; 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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Institutional Ownership by Quarter for SVB Financial Group (NASDAQ:SIVB)

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