Janney Montgomery Scott LLC Sells 2,710 Shares of SVB Financial Group (NASDAQ:SIVB)

Janney Montgomery Scott LLC cut its holdings in SVB Financial Group (NASDAQ:SIVBGet Rating) by 46.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,107 shares of the bank’s stock after selling 2,710 shares during the period. Janney Montgomery Scott LLC’s holdings in SVB Financial Group were worth $1,043,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Fifth Third Bancorp boosted its position in shares of SVB Financial Group by 6.4% during the third quarter. Fifth Third Bancorp now owns 18,304 shares of the bank’s stock worth $6,146,000 after acquiring an additional 1,094 shares during the last quarter. Versor Investments LP boosted its holdings in shares of SVB Financial Group by 364.3% during the 3rd quarter. Versor Investments LP now owns 4,179 shares of the bank’s stock valued at $1,403,000 after purchasing an additional 3,279 shares during the last quarter. Texas Permanent School Fund grew its position in shares of SVB Financial Group by 7.6% during the third quarter. Texas Permanent School Fund now owns 8,360 shares of the bank’s stock valued at $2,807,000 after purchasing an additional 587 shares in the last quarter. Raymond James & Associates increased its holdings in shares of SVB Financial Group by 2.8% in the third quarter. Raymond James & Associates now owns 42,873 shares of the bank’s stock worth $14,396,000 after purchasing an additional 1,167 shares during the last quarter. Finally, John W. Rosenthal Capital Management Inc. purchased a new stake in shares of SVB Financial Group in the third quarter worth about $3,929,000. 92.35% of the stock is currently owned by institutional investors.

SVB Financial Group Trading Down 3.1 %

Shares of NASDAQ SIVB opened at $251.98 on Thursday. SVB Financial Group has a twelve month low of $198.10 and a twelve month high of $677.25. The firm has a market cap of $14.89 billion, a PE ratio of 9.35, a price-to-earnings-growth ratio of 1.59 and a beta of 1.47. The business has a fifty day simple moving average of $228.01 and a two-hundred day simple moving average of $317.80. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.28.

SVB Financial Group (NASDAQ:SIVBGet Rating) last released its quarterly earnings data on Thursday, October 20th. The bank reported $7.21 earnings per share for the quarter, beating the consensus estimate of $6.79 by $0.42. SVB Financial Group had a return on equity of 13.72% and a net margin of 25.57%. The firm had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.64 billion. During the same period in the previous year, the company posted $7.26 earnings per share. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. Analysts expect that SVB Financial Group will post 25.97 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. JPMorgan Chase & Co. decreased their price objective on SVB Financial Group from $375.00 to $275.00 and set an “overweight” rating on the stock in a report on Tuesday, December 13th. Truist Financial lowered their price objective on shares of SVB Financial Group from $274.00 to $250.00 in a research report on Friday, December 9th. Morgan Stanley boosted their target price on shares of SVB Financial Group from $186.00 to $190.00 and gave the stock an “underweight” rating in a report on Thursday, December 15th. Raymond James lowered their price target on shares of SVB Financial Group from $345.00 to $260.00 and set an “outperform” rating for the company in a report on Thursday, December 22nd. Finally, Maxim Group reduced their price objective on SVB Financial Group from $750.00 to $600.00 in a research note on Monday, October 24th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $362.18.

Insider Buying and Selling at SVB Financial Group

In other SVB Financial Group news, Director Beverly Kay Matthews purchased 1,000 shares of the stock in a transaction dated Tuesday, January 3rd. The stock was purchased at an average price of $232.06 per share, with a total value of $232,060.00. Following the transaction, the director now owns 2,374 shares of the company’s stock, valued at $550,910.44. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Beverly Kay Matthews acquired 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 3rd. The stock was purchased at an average cost of $232.06 per share, for a total transaction of $232,060.00. Following the purchase, the director now directly owns 2,374 shares of the company’s stock, valued at approximately $550,910.44. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Michelle Draper sold 2,414 shares of the firm’s stock in a transaction dated Wednesday, December 28th. The shares were sold at an average price of $215.61, for a total value of $520,482.54. Following the sale, the chief marketing officer now directly owns 2,997 shares in the company, valued at approximately $646,183.17. The disclosure for this sale can be found here. Insiders own 0.62% of the company’s stock.

SVB Financial Group Profile

(Get Rating)

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 consists 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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