JPMorgan Chase & Co. decreased its position in SVB Financial Group (NASDAQ:SIVB) by 10.9% during the first quarter, Holdings Channel reports. The fund owned 1,504,916 shares of the bank’s stock after selling 183,350 shares during the period. JPMorgan Chase & Co.’s holdings in SVB Financial Group were worth $280,049,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. Two Sigma Advisers LP raised its stake in SVB Financial Group by 8.8% in the third quarter. Two Sigma Advisers LP now owns 175,962 shares of the bank’s stock worth $19,451,000 after buying an additional 14,199 shares during the last quarter. HighTower Advisors LLC raised its stake in SVB Financial Group by 7.2% in the third quarter. HighTower Advisors LLC now owns 5,884 shares of the bank’s stock worth $651,000 after buying an additional 396 shares during the last quarter. Profund Advisors LLC raised its stake in SVB Financial Group by 18.1% in the third quarter. Profund Advisors LLC now owns 7,761 shares of the bank’s stock worth $858,000 after buying an additional 1,189 shares during the last quarter. Stephens Inc. AR raised its stake in SVB Financial Group by 0.3% in the third quarter. Stephens Inc. AR now owns 3,349 shares of the bank’s stock worth $370,000 after buying an additional 9 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in SVB Financial Group by 7.8% in the third quarter. Principal Financial Group Inc. now owns 201,090 shares of the bank’s stock worth $22,229,000 after buying an additional 14,497 shares during the last quarter. Hedge funds and other institutional investors own 91.77% of the company’s stock.
Shares of SVB Financial Group (NASDAQ:SIVB) traded up 0.87% during trading on Friday, reaching $175.69. 474,848 shares of the company’s stock traded hands. The company has a 50 day moving average price of $181.96 and a 200 day moving average price of $173.83. The stock has a market capitalization of $9.22 billion, a PE ratio of 22.82 and a beta of 1.47. SVB Financial Group has a 1-year low of $82.90 and a 1-year high of $198.83.
SVB Financial Group (NASDAQ:SIVB) last released its earnings results on Thursday, April 27th. The bank reported $1.91 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.86 by $0.05. The company had revenue of $427.65 million during the quarter, compared to analysts’ expectations of $429.13 million. SVB Financial Group had a return on equity of 10.45% and a net margin of 23.19%. The business’s revenue was up 16.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.52 EPS. On average, equities analysts forecast that SVB Financial Group will post $8.67 EPS for the current fiscal year.
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A number of research firms recently weighed in on SIVB. Zacks Investment Research lowered shares of SVB Financial Group from a “buy” rating to a “hold” rating in a research note on Tuesday, February 28th. Stephens restated a “buy” rating on shares of SVB Financial Group in a research note on Thursday, April 27th. Keefe, Bruyette & Woods set a $191.00 target price on shares of SVB Financial Group and gave the stock a “buy” rating in a research note on Monday, April 3rd. Jefferies Group LLC restated a “buy” rating and set a $216.00 target price on shares of SVB Financial Group in a research note on Tuesday, April 4th. Finally, Royal Bank of Canada restated a “buy” rating and set a $195.00 target price on shares of SVB Financial Group in a research note on Tuesday, April 4th. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $179.70.
In other news, insider Bruce Wallace sold 8,790 shares of the stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $182.58, for a total transaction of $1,604,878.20. Following the completion of the transaction, the insider now directly owns 14,248 shares in the company, valued at approximately $2,601,399.84. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Michael Descheneaux sold 7,000 shares of the stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $184.38, for a total value of $1,290,660.00. Following the transaction, the chief financial officer now owns 18,419 shares of the company’s stock, valued at $3,396,095.22. The disclosure for this sale can be found here. Corporate insiders own 0.78% of the company’s stock.
SVB Financial Group Company Profile
SVB Financial Group is a financial services company, as well as a bank holding and a financial holding company. The Company’s segments include Global Commercial Bank, SVB Private Bank and SVB Capital. The Global Commercial Bank segment consists of the operations of its Commercial Bank, and of SVB Wine, SVB Analytics and its Debt Fund Investments.
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