Northern Trust Corp boosted its position in SVB Financial Group (NASDAQ:SIVB) by 3.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 570,929 shares of the bank’s stock after buying an additional 18,072 shares during the quarter. Northern Trust Corp’s holdings in SVB Financial Group were worth $128,225,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the stock. Fisher Asset Management LLC grew its holdings in shares of SVB Financial Group by 0.7% during the second quarter. Fisher Asset Management LLC now owns 1,017,094 shares of the bank’s stock valued at $228,429,000 after purchasing an additional 7,245 shares during the last quarter. Neuberger Berman Group LLC boosted its position in shares of SVB Financial Group by 1.8% during the first quarter. Neuberger Berman Group LLC now owns 855,182 shares of the bank’s stock worth $190,159,000 after buying an additional 15,374 shares during the period. Geode Capital Management LLC boosted its position in shares of SVB Financial Group by 5.0% during the fourth quarter. Geode Capital Management LLC now owns 713,667 shares of the bank’s stock worth $135,307,000 after buying an additional 33,689 shares during the period. TimesSquare Capital Management LLC boosted its position in shares of SVB Financial Group by 71.5% during the first quarter. TimesSquare Capital Management LLC now owns 638,100 shares of the bank’s stock worth $141,888,000 after buying an additional 266,100 shares during the period. Finally, Janus Henderson Group PLC boosted its position in shares of SVB Financial Group by 1.5% during the second quarter. Janus Henderson Group PLC now owns 568,912 shares of the bank’s stock worth $127,772,000 after buying an additional 8,450 shares during the period. 92.12% of the stock is owned by hedge funds and other institutional investors.
In other SVB Financial Group news, insider Marc C. Cadieux sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $229.94, for a total value of $459,880.00. Following the completion of the transaction, the insider now directly owns 14,147 shares in the company, valued at approximately $3,252,961.18. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Michael Descheneaux sold 3,000 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $201.19, for a total transaction of $603,570.00. Following the sale, the insider now owns 21,438 shares of the company’s stock, valued at $4,313,111.22. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,547 shares of company stock valued at $1,189,038. 0.73% of the stock is currently owned by insiders.
Shares of SVB Financial Group stock traded up $8.41 during trading on Friday, hitting $226.17. 20,013 shares of the stock were exchanged, compared to its average volume of 428,250. The stock has a market capitalization of $11.24 billion, a price-to-earnings ratio of 12.41, a price-to-earnings-growth ratio of 1.37 and a beta of 2.14. The company has a fifty day moving average price of $203.50 and a 200-day moving average price of $224.01. SVB Financial Group has a 1-year low of $177.70 and a 1-year high of $330.50. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.12.
SVB Financial Group (NASDAQ:SIVB) last announced its earnings results on Thursday, July 25th. The bank reported $6.08 EPS for the quarter, topping the consensus estimate of $4.98 by $1.10. The business had revenue of $863.15 million during the quarter, compared to the consensus estimate of $787.38 million. SVB Financial Group had a net margin of 35.83% and a return on equity of 21.44%. During the same quarter in the previous year, the firm posted $4.42 EPS. Equities research analysts forecast that SVB Financial Group will post 21.25 EPS for the current fiscal year.
Several equities analysts have recently issued reports on the company. Wells Fargo & Co downgraded SVB Financial Group from an “outperform” rating to a “market perform” rating and set a $224.59 price objective for the company. in a research report on Monday, July 1st. Piper Jaffray Companies set a $265.00 price target on shares of SVB Financial Group and gave the stock a “buy” rating in a research report on Friday, July 26th. Royal Bank of Canada set a $280.00 price target on shares of SVB Financial Group and gave the stock a “buy” rating in a research report on Friday, July 26th. Keefe, Bruyette & Woods lowered shares of SVB Financial Group from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $300.00 to $255.00 in a research report on Sunday, July 7th. Finally, ValuEngine lowered shares of SVB Financial Group from a “hold” rating to a “sell” rating in a research report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the company. SVB Financial Group presently has a consensus rating of “Buy” and a consensus target price of $272.09.
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.
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