Bank of New York Mellon Corp reduced its stake in SVB Financial Group (NASDAQ:SIVB – Get Rating) by 0.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 473,064 shares of the bank’s stock after selling 2,975 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.80% of SVB Financial Group worth $158,847,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of SIVB. Private Trust Co. NA raised its position in SVB Financial Group by 107.8% in the 3rd quarter. Private Trust Co. NA now owns 106 shares of the bank’s stock valued at $36,000 after buying an additional 55 shares during the last quarter. Geneos Wealth Management Inc. raised its position in SVB Financial Group by 100.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 72 shares of the bank’s stock valued at $40,000 after buying an additional 36 shares during the last quarter. Twin Lakes Capital Management LLC purchased a new stake in SVB Financial Group in the 3rd quarter valued at $42,000. SeaCrest Wealth Management LLC purchased a new stake in shares of SVB Financial Group during the 2nd quarter valued at $43,000. Finally, NuWave Investment Management LLC purchased a new stake in shares of SVB Financial Group during the 3rd quarter valued at $51,000. 92.35% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
SIVB has been the subject of several research analyst reports. Wedbush decreased their target price on SVB Financial Group from $250.00 to $200.00 and set a “neutral” rating for the company in a research report on Thursday, March 9th. Piper Sandler decreased their target price on SVB Financial Group from $250.00 to $195.00 and set a “buy” rating for the company in a research report on Thursday, March 9th. JPMorgan Chase & Co. decreased their target price on SVB Financial Group from $300.00 to $270.00 and set an “overweight” rating for the company in a research report on Thursday, March 9th. Morgan Stanley raised their target price on SVB Financial Group from $186.00 to $190.00 and gave the company an “underweight” rating in a research report on Thursday, December 15th. Finally, DA Davidson decreased their price objective on SVB Financial Group to $240.00 in a report on Monday, December 12th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, SVB Financial Group currently has a consensus rating of “Hold” and an average price target of $348.47.
SVB Financial Group Price Performance
Shares of NASDAQ SIVB opened at $106.04 on Friday. SVB Financial Group has a 52 week low of $39.40 and a 52 week high of $597.16. The business has a 50-day simple moving average of $261.73 and a two-hundred day simple moving average of $273.23. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.42. The company has a market cap of $6.28 billion, a P/E ratio of 4.18, a P/E/G ratio of 0.91 and a beta of 1.57.
SVB Financial Group (NASDAQ:SIVB – Get Rating) last issued its quarterly earnings results on Thursday, January 19th. The bank reported $4.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.26 by ($0.64). The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.48 billion. SVB Financial Group had a net margin of 22.05% and a return on equity of 13.02%. The business’s revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the business posted $6.22 EPS. Research analysts anticipate that SVB Financial Group will post 14.49 earnings per share for the current fiscal year.
About SVB Financial Group
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.
- Get a free copy of the StockNews.com research report on SVB Financial Group (SIVB)
- MarketBeat Week in Review – 3/13 – 3/17
- This Small Tech With Big Growth Prospects Is Nearing A Buy Point
- Don’t Chase FedEx Higher, Wait For The Pullback
- 3 Stocks For A Defensive Tech Portfolio
- Milk the Dividends on These 3 Cash Cows
Want to see what other hedge funds are holding SIVB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SVB Financial Group (NASDAQ:SIVB – Get Rating).
Receive News & Ratings for SVB Financial Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SVB Financial Group and related companies with MarketBeat.com's FREE daily email newsletter.