Huntington National Bank decreased its position in shares of SVB Financial Group (NASDAQ:SIVB) by 4.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,940 shares of the bank’s stock after selling 301 shares during the quarter. Huntington National Bank’s holdings in SVB Financial Group were worth $1,496,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of SVB Financial Group by 26.5% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 8,888 shares of the bank’s stock valued at $1,915,000 after acquiring an additional 1,861 shares in the last quarter. Swedbank boosted its holdings in shares of SVB Financial Group by 34.7% during the 1st quarter. Swedbank now owns 691,938 shares of the bank’s stock valued at $104,538,000 after acquiring an additional 178,400 shares in the last quarter. AQR Capital Management LLC raised its position in SVB Financial Group by 17.3% during the 1st quarter. AQR Capital Management LLC now owns 368,722 shares of the bank’s stock worth $55,707,000 after purchasing an additional 54,374 shares during the last quarter. Hexavest Inc. bought a new position in SVB Financial Group during the 2nd quarter worth $12,241,000. Finally, State of Alaska Department of Revenue raised its position in SVB Financial Group by 87.4% during the 2nd quarter. State of Alaska Department of Revenue now owns 16,619 shares of the bank’s stock worth $3,581,000 after purchasing an additional 7,750 shares during the last quarter. 90.74% of the stock is currently owned by institutional investors.
In related news, CFO Daniel J. Beck sold 2,205 shares of the business’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $240.15, for a total value of $529,530.75. Following the completion of the sale, the chief financial officer now directly owns 2,312 shares of the company’s stock, valued at approximately $555,226.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael Descheneaux sold 1,050 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $183.01, for a total value of $192,160.50. Following the completion of the sale, the insider now directly owns 23,115 shares of the company’s stock, valued at $4,230,276.15. The disclosure for this sale can be found here. Insiders sold a total of 22,476 shares of company stock valued at $4,811,007 over the last ninety days. 0.78% of the stock is currently owned by corporate insiders.
Several research analysts recently issued reports on SIVB shares. Zacks Investment Research lowered SVB Financial Group from a “buy” rating to a “hold” rating and set a $219.00 target price for the company. in a research report on Friday, July 3rd. JMP Securities lowered their target price on SVB Financial Group from $275.00 to $200.00 and set a “market outperform” rating for the company in a research report on Tuesday, May 5th. DA Davidson lowered SVB Financial Group from a “buy” rating to a “neutral” rating and set a $230.00 target price for the company. in a research report on Monday, June 1st. BidaskClub raised SVB Financial Group from a “sell” rating to a “hold” rating in a research report on Friday, May 29th. Finally, Wolfe Research started coverage on SVB Financial Group in a research report on Friday. They set an “outperform” rating for the company. One investment analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the company’s stock. SVB Financial Group presently has a consensus rating of “Buy” and a consensus target price of $232.63.
Shares of SIVB stock traded down $1.08 during mid-day trading on Friday, hitting $224.27. The company’s stock had a trading volume of 300,320 shares, compared to its average volume of 282,998. The company’s fifty day simple moving average is $215.17 and its 200-day simple moving average is $206.69. SVB Financial Group has a 52 week low of $127.39 and a 52 week high of $270.95. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.72 and a current ratio of 0.71. The company has a market cap of $11.55 billion, a PE ratio of 13.05, a P/E/G ratio of 1.99 and a beta of 2.25.
SVB Financial Group (NASDAQ:SIVB) last issued its earnings results on Thursday, July 23rd. The bank reported $4.42 EPS for the quarter, beating analysts’ consensus estimates of $2.96 by $1.46. SVB Financial Group had a return on equity of 13.61% and a net margin of 25.26%. The business had revenue of $881.78 million during the quarter, compared to analyst estimates of $757.21 million. During the same period in the previous year, the company posted $6.08 EPS. On average, equities analysts anticipate that SVB Financial Group will post 14.1 earnings per share for the current year.
About SVB Financial Group
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.
See Also: Net Margin
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