Grandeur Peak Global Advisors LLC Reduces Holdings in SVB Financial Group (SIVB)
Grandeur Peak Global Advisors LLC cut its holdings in SVB Financial Group (NASDAQ:SIVB) by 2.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 38,600 shares of the bank’s stock after selling 800 shares during the quarter. Grandeur Peak Global Advisors LLC owned about 0.07% of SVB Financial Group worth $6,785,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. BDO Wealth Advisors LLC acquired a new stake in SVB Financial Group during the 2nd quarter worth about $109,000. Exane Derivatives acquired a new stake in SVB Financial Group during the 2nd quarter worth about $119,000. Peddock Capital Advisors LLC acquired a new stake in SVB Financial Group during the 2nd quarter worth about $130,000. Whittier Trust Co. of Nevada Inc. raised its holdings in SVB Financial Group by 79.6% during the 2nd 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 holdings in SVB Financial Group by 58.6% during the 2nd 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. Hedge funds and other institutional investors own 92.12% of the company’s stock.
In other news, Director Eric Benhamou sold 2,000 shares of the firm’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $172.01, for a total transaction of $344,020.00. Following the sale, the director now owns 6,672 shares of the company’s stock, valued at $1,147,650.72. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Philip C. Cox sold 3,024 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $182.80, for a total value of $552,787.20. Following the sale, the insider now directly owns 2,872 shares in the company, valued at approximately $525,001.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 8,524 shares of company stock worth $1,534,052. 0.73% of the stock is currently owned by insiders.
SVB Financial Group (NASDAQ:SIVB) traded up 0.98% during trading on Friday, reaching $189.10. The company’s stock had a trading volume of 427,711 shares. The stock’s 50 day moving average is $174.20 and its 200-day moving average is $178.00. The firm has a market cap of $9.96 billion, a P/E ratio of 22.98 and a beta of 1.63. SVB Financial Group has a 52 week low of $112.00 and a 52 week high of $198.83.
SVB Financial Group (NASDAQ:SIVB) last released its quarterly earnings results on Thursday, July 27th. The bank reported $2.32 EPS for the quarter, topping the Zacks’ consensus estimate of $2.05 by $0.27. The company had revenue of $471.70 million for the quarter, compared to analyst estimates of $451.96 million. SVB Financial Group had a return on equity of 11.27% and a net margin of 24.36%. SVB Financial Group’s revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.78 earnings per share. On average, equities research analysts forecast that SVB Financial Group will post $8.99 earnings per share for the current fiscal year.
Several research firms have issued reports on SIVB. ValuEngine downgraded SVB Financial Group from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Zacks Investment Research downgraded SVB Financial Group from a “hold” rating to a “sell” rating in a report on Tuesday. BidaskClub upgraded SVB Financial Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 14th. Morgan Stanley restated an “overweight” rating and set a $213.00 price objective (up previously from $210.00) on shares of SVB Financial Group in a report on Wednesday. Finally, Barclays PLC restated an “equal weight” rating and set a $191.00 price objective (up previously from $188.00) on shares of SVB Financial Group in a report on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $203.00.
SVB Financial Group Profile
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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