Brighton Jones LLC Increases Position in SVB Financial Group (NASDAQ:SIVB)

Brighton Jones LLC lifted its holdings in SVB Financial Group (NASDAQ:SIVB) by 23.8% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,986 shares of the bank’s stock after buying an additional 766 shares during the period. Brighton Jones LLC’s holdings in SVB Financial Group were worth $2,218,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. lifted its stake in SVB Financial Group by 3.6% in the first quarter. BlackRock Inc. now owns 4,404,343 shares of the bank’s stock valued at $2,174,247,000 after purchasing an additional 151,778 shares during the last quarter. Capital International Investors lifted its stake in SVB Financial Group by 0.5% in the first quarter. Capital International Investors now owns 1,969,463 shares of the bank’s stock valued at $972,245,000 after purchasing an additional 10,747 shares during the last quarter. Royal Bank of Canada lifted its stake in SVB Financial Group by 3.6% in the first quarter. Royal Bank of Canada now owns 1,699,232 shares of the bank’s stock valued at $838,842,000 after purchasing an additional 59,569 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in SVB Financial Group by 436.3% in the first quarter. JPMorgan Chase & Co. now owns 1,193,040 shares of the bank’s stock valued at $588,958,000 after purchasing an additional 970,591 shares during the last quarter. Finally, Morgan Stanley lifted its stake in SVB Financial Group by 13.4% in the first quarter. Morgan Stanley now owns 978,527 shares of the bank’s stock valued at $483,062,000 after purchasing an additional 115,791 shares during the last quarter. Hedge funds and other institutional investors own 86.54% of the company’s stock.

Shares of SVB Financial Group stock traded up $8.17 during trading on Wednesday, hitting $592.61. The stock had a trading volume of 2,553 shares, compared to its average volume of 450,662. The firm has a market cap of $33.45 billion, a price-to-earnings ratio of 16.70, a P/E/G ratio of 2.39 and a beta of 2.04. SVB Financial Group has a 12 month low of $221.55 and a 12 month high of $608.84. The business’s 50-day moving average is $569.49 and its 200 day moving average is $553.72. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.19.

SVB Financial Group (NASDAQ:SIVB) last released its earnings results on Thursday, July 22nd. The bank reported $9.09 EPS for the quarter, beating the Zacks’ consensus estimate of $6.48 by $2.61. The business had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.14 billion. SVB Financial Group had a return on equity of 21.67% and a net margin of 35.74%. The firm’s revenue was up 68.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.42 earnings per share. As a group, equities analysts expect that SVB Financial Group will post 30.94 EPS for the current year.

In other SVB Financial Group news, Director Garen K. Staglin purchased 500 shares of the business’s stock in a transaction on Tuesday, July 13th. The stock was acquired at an average cost of $588.02 per share, for a total transaction of $294,010.00. Following the completion of the transaction, the director now directly owns 14,680 shares in the company, valued at approximately $8,632,133.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Gregory W. Becker sold 16,237 shares of the company’s stock in a transaction dated Thursday, July 15th. The shares were sold at an average price of $584.57, for a total transaction of $9,491,663.09. The disclosure for this sale can be found here. In the last three months, insiders purchased 1,500 shares of company stock worth $852,500 and sold 19,103 shares worth $11,139,859. 0.68% of the stock is owned by corporate insiders.

Several equities analysts recently commented on the company. Maxim Group upped their price objective on SVB Financial Group from $700.00 to $800.00 and gave the company a “buy” rating in a research note on Monday, July 26th. DA Davidson increased their target price on SVB Financial Group from $575.00 to $640.00 and gave the stock a “neutral” rating in a research report on Friday, July 23rd. Barclays increased their target price on SVB Financial Group from $620.00 to $640.00 and gave the stock an “equal weight” rating in a research report on Friday, July 23rd. Truist Securities restated a “buy” rating and set a $559.09 target price on shares of SVB Financial Group in a research report on Monday, July 26th. Finally, Raymond James increased their target price on SVB Financial Group from $600.00 to $660.00 and gave the stock an “outperform” rating in a research report on Friday, July 23rd. Seven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $626.34.

SVB Financial Group Profile

SVB Financial Group is a holding company, which engages in the provision of banking and financial services. It operates through the following segments: Global Commercial Bank, SVB Private Bank, SVB Capital, and SVB Leerink. The Global Commercial Bank segment comprises of results from the commercial bank, private equity division, SVB wine, SVB analytics, and debt fund investments.

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

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