Brasada Capital Management LP Invests $760,000 in SVB Financial Group (SIVB) Stock

Brasada Capital Management LP purchased a new position in shares of SVB Financial Group (NASDAQ:SIVB) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 4,000 shares of the bank’s stock, valued at approximately $760,000.

A number of other institutional investors have also modified their holdings of SIVB. Bank of New York Mellon Corp grew its holdings in SVB Financial Group by 56.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,306,038 shares of the bank’s stock worth $377,130,000 after acquiring an additional 471,329 shares during the period. Allianz Asset Management GmbH grew its holdings in SVB Financial Group by 11,278.8% during the 3rd quarter. Allianz Asset Management GmbH now owns 215,287 shares of the bank’s stock worth $66,918,000 after acquiring an additional 213,395 shares during the period. Assenagon Asset Management S.A. acquired a new stake in SVB Financial Group during the 4th quarter worth about $30,385,000. Canada Pension Plan Investment Board grew its holdings in SVB Financial Group by 698.3% during the 3rd quarter. Canada Pension Plan Investment Board now owns 142,900 shares of the bank’s stock worth $44,418,000 after acquiring an additional 125,000 shares during the period. Finally, Vanguard Group Inc grew its holdings in SVB Financial Group by 2.2% during the 3rd quarter. Vanguard Group Inc now owns 5,596,383 shares of the bank’s stock worth $1,739,523,000 after acquiring an additional 121,374 shares during the period. Hedge funds and other institutional investors own 90.79% of the company’s stock.

In other news, insider Michelle Draper sold 1,748 shares of the stock in a transaction dated Thursday, January 31st. The shares were sold at an average price of $238.44, for a total transaction of $416,793.12. Following the transaction, the insider now owns 7,573 shares of the company’s stock, valued at approximately $1,805,706.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Philip C. Cox sold 620 shares of the stock in a transaction dated Wednesday, November 28th. The stock was sold at an average price of $238.96, for a total transaction of $148,155.20. Following the transaction, the insider now directly owns 6,511 shares in the company, valued at approximately $1,555,868.56. The disclosure for this sale can be found here. 0.74% of the stock is owned by corporate insiders.

A number of brokerages have weighed in on SIVB. BidaskClub downgraded SVB Financial Group from a “hold” rating to a “sell” rating in a report on Tuesday, October 16th. DA Davidson upgraded SVB Financial Group from a “neutral” rating to a “buy” rating and set a $345.00 price target for the company in a report on Friday, October 26th. Piper Jaffray Companies set a $291.00 price target on SVB Financial Group and gave the stock a “buy” rating in a report on Friday, January 25th. Zacks Investment Research downgraded SVB Financial Group from a “buy” rating to a “hold” rating in a report on Saturday, January 26th. Finally, SunTrust Banks increased their price target on SVB Financial Group to $280.00 and gave the stock a “buy” rating in a report on Monday, January 28th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $317.24.

SIVB stock opened at $242.13 on Wednesday. The stock has a market cap of $12.95 billion, a PE ratio of 13.28, a P/E/G ratio of 1.14 and a beta of 2.05. The company has a current ratio of 0.65, a quick ratio of 0.63 and a debt-to-equity ratio of 0.13. SVB Financial Group has a 1 year low of $177.70 and a 1 year high of $333.74.

SVB Financial Group (NASDAQ:SIVB) last released its quarterly earnings data on Thursday, January 24th. The bank reported $4.96 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $4.69 by $0.27. The company had revenue of $673.69 million for the quarter, compared to analysts’ expectations of $697.89 million. SVB Financial Group had a net margin of 35.87% and a return on equity of 19.90%. The business’s revenue was up 30.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.19 EPS. As a group, sell-side analysts expect that SVB Financial Group will post 20.39 EPS for the current fiscal year.

SVB Financial Group declared that its board has initiated a share buyback program on Tuesday, November 13th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the bank to reacquire up to 3.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

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SVB Financial Group Profile

SVB Financial Group, a diversified financial services company, provides various banking and financial products and services. Its 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 card account analysis, and disbursement, as well as online and mobile banking services.

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Institutional Ownership by Quarter for SVB Financial Group (NASDAQ:SIVB)

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