HPM Partners LLC Takes $212,000 Position in SVB Financial Group (SIVB)
HPM Partners LLC acquired a new stake in SVB Financial Group (NASDAQ:SIVB) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 733 shares of the bank’s stock, valued at approximately $212,000.
Several other large investors also recently added to or reduced their stakes in SIVB. Bank of New York Mellon Corp increased its stake in shares of SVB Financial Group by 56.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,306,038 shares of the bank’s stock valued at $377,130,000 after acquiring an additional 471,329 shares in the last quarter. Millennium Management LLC increased its stake in shares of SVB Financial Group by 93.1% in the 2nd quarter. Millennium Management LLC now owns 770,940 shares of the bank’s stock valued at $222,617,000 after acquiring an additional 371,684 shares in the last quarter. Bank of Montreal Can bought a new stake in shares of SVB Financial Group in the 2nd quarter valued at $96,584,000. Guggenheim Capital LLC increased its stake in shares of SVB Financial Group by 566.7% in the 1st quarter. Guggenheim Capital LLC now owns 220,949 shares of the bank’s stock valued at $53,029,000 after acquiring an additional 187,808 shares in the last quarter. Finally, Atlantic Trust Group LLC bought a new stake in shares of SVB Financial Group in the 1st quarter valued at $38,938,000. Institutional investors own 88.82% of the company’s stock.
In other news, insider Gregory W. Becker sold 7,000 shares of the company’s stock in a transaction on Monday, August 6th. The shares were sold at an average price of $325.40, for a total value of $2,277,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Gregory W. Becker sold 12,872 shares of the company’s stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $310.97, for a total transaction of $4,002,805.84. Following the completion of the sale, the insider now owns 18,039 shares of the company’s stock, valued at approximately $5,609,587.83. The disclosure for this sale can be found here. Insiders have sold a total of 20,872 shares of company stock valued at $6,594,766 in the last 90 days. 0.74% of the stock is currently owned by company insiders.
SVB Financial Group (NASDAQ:SIVB) last announced its quarterly earnings results on Thursday, July 26th. The bank reported $4.42 EPS for the quarter, beating the Zacks’ consensus estimate of $3.86 by $0.56. The business had revenue of $659.10 million during the quarter, compared to analyst estimates of $612.75 million. SVB Financial Group had a net margin of 29.56% and a return on equity of 16.47%. SVB Financial Group’s quarterly revenue was up 39.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.32 EPS. analysts forecast that SVB Financial Group will post 17.29 EPS for the current year.
Several analysts have recently weighed in on SIVB shares. BidaskClub lowered shares of SVB Financial Group from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 30th. Zacks Investment Research lowered shares of SVB Financial Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 31st. JPMorgan Chase & Co. lifted their price objective on shares of SVB Financial Group from $345.00 to $375.00 and gave the company an “overweight” rating in a research note on Monday, June 11th. They noted that the move was a valuation call. Wells Fargo & Co lifted their price objective on shares of SVB Financial Group from $325.00 to $335.00 and gave the company an “outperform” rating in a research note on Tuesday, June 26th. Finally, Stephens reiterated a “buy” rating and issued a $350.00 price objective on shares of SVB Financial Group in a research note on Friday, July 13th. Four investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $354.06.
About SVB Financial Group
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.
Further Reading: Diversification
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