Artemis Investment Management LLP decreased its position in SVB Financial Group (NASDAQ:SIVB) by 14.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,878 shares of the bank’s stock after selling 2,325 shares during the quarter. Artemis Investment Management LLP’s holdings in SVB Financial Group were worth $2,597,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. BDO Wealth Advisors LLC bought a new position in shares of SVB Financial Group in the second quarter worth about $109,000. Exane Derivatives bought a new position in shares of SVB Financial Group in the second quarter worth about $119,000. Peddock Capital Advisors LLC bought a new position in shares of SVB Financial Group in the second quarter worth about $130,000. Whittier Trust Co. of Nevada Inc. raised its stake in shares of SVB Financial Group by 79.6% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 774 shares of the bank’s stock worth $136,000 after buying an additional 343 shares during the period. Finally, Global X Management Co. LLC raised its stake in shares of SVB Financial Group by 58.6% in the second quarter. Global X Management Co. LLC now owns 782 shares of the bank’s stock worth $137,000 after buying an additional 289 shares during the period. 92.08% of the stock is currently owned by institutional investors.
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Shares of SVB Financial Group (NASDAQ SIVB) opened at $219.52 on Friday. The stock has a market capitalization of $11,573.97, a P/E ratio of 24.64, a P/E/G ratio of 2.10 and a beta of 1.64. SVB Financial Group has a 12 month low of $116.59 and a 12 month high of $223.82. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.60 and a current ratio of 0.59.
SVB Financial Group (NASDAQ:SIVB) last issued its earnings results on Thursday, October 26th. The bank reported $2.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.50. The company had revenue of $533.40 million for the quarter, compared to the consensus estimate of $490.56 million. SVB Financial Group had a return on equity of 11.88% and a net margin of 25.07%. The firm’s quarterly revenue was up 23.0% on a year-over-year basis. During the same quarter last year, the company earned $2.12 EPS. equities analysts forecast that SVB Financial Group will post 9.5 earnings per share for the current fiscal year.
In other SVB Financial Group news, insider Kamran F. Husain sold 2,890 shares of the firm’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $220.20, for a total transaction of $636,378.00. Following the completion of the transaction, the insider now owns 890 shares in the company, valued at approximately $195,978. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eric Benhamou sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $172.01, for a total value of $344,020.00. Following the transaction, the director now owns 6,672 shares of the company’s stock, valued at approximately $1,147,650.72. The disclosure for this sale can be found here. 0.73% of the stock is currently owned by company insiders.
Several research firms have recently commented on SIVB. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $195.00 price objective on shares of SVB Financial Group in a research note on Friday, July 14th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $216.00 price objective on shares of SVB Financial Group in a research note on Friday, August 11th. Maxim Group raised their price objective on SVB Financial Group from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Monday, July 31st. BidaskClub downgraded SVB Financial Group from a “buy” rating to a “hold” rating in a research note on Sunday, July 30th. Finally, Barclays PLC reaffirmed an “equal weight” rating and issued a $191.00 price objective (up previously from $188.00) on shares of SVB Financial Group in a research note on Wednesday, July 12th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. SVB Financial Group currently has a consensus rating of “Buy” and a consensus target price of $211.83.
About SVB Financial Group
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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