Pinebridge Investments L.P. Has $7.86 Million Holdings in SVB Financial Group (SIVB)
Pinebridge Investments L.P. boosted its stake in SVB Financial Group (NASDAQ:SIVB) by 48.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 42,030 shares of the bank’s stock after purchasing an additional 13,771 shares during the period. Pinebridge Investments L.P. owned about 0.08% of SVB Financial Group worth $7,864,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Oakbrook Investments LLC increased its stake in SVB Financial Group by 84.3% in the 3rd quarter. Oakbrook Investments LLC now owns 4,100 shares of the bank’s stock worth $767,000 after purchasing an additional 1,875 shares during the period. Strs Ohio increased its stake in SVB Financial Group by 4.3% in the 3rd quarter. Strs Ohio now owns 407,764 shares of the bank’s stock worth $76,288,000 after purchasing an additional 16,811 shares during the period. Principal Financial Group Inc. increased its stake in SVB Financial Group by 6.8% in the 2nd quarter. Principal Financial Group Inc. now owns 223,271 shares of the bank’s stock worth $39,249,000 after purchasing an additional 14,145 shares during the period. Comerica Bank increased its stake in SVB Financial Group by 0.9% in the 2nd quarter. Comerica Bank now owns 42,407 shares of the bank’s stock worth $7,560,000 after purchasing an additional 365 shares during the period. Finally, Synovus Financial Corp increased its stake in SVB Financial Group by 14.4% in the 2nd quarter. Synovus Financial Corp now owns 7,139 shares of the bank’s stock worth $1,253,000 after purchasing an additional 897 shares during the period. 97.79% of the stock is currently owned by institutional investors and hedge funds.
SVB Financial Group (NASDAQ SIVB) opened at $228.17 on Monday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.59 and a current ratio of 0.59. SVB Financial Group has a 12 month low of $158.24 and a 12 month high of $233.46. The stock has a market capitalization of $12,033.91, a P/E ratio of 25.61, a PEG ratio of 2.18 and a beta of 1.62.
SVB Financial Group (NASDAQ:SIVB) last posted its earnings results on Thursday, October 26th. The bank reported $2.79 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.29 by $0.50. SVB Financial Group had a return on equity of 11.88% and a net margin of 25.07%. The firm had revenue of $533.40 million for the quarter, compared to analysts’ expectations of $490.56 million. During the same period in the previous year, the firm earned $2.12 earnings per share. The business’s revenue was up 23.0% compared to the same quarter last year. sell-side analysts anticipate that SVB Financial Group will post 9.5 EPS for the current fiscal year.
In related news, insider Marc C. Cadieux sold 2,260 shares of SVB Financial Group stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $219.34, for a total transaction of $495,708.40. Following the sale, the insider now directly owns 15,971 shares in the company, valued at $3,503,079.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kamran F. Husain sold 2,890 shares of SVB Financial Group stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $220.20, for a total value of $636,378.00. Following the sale, the insider now owns 890 shares in the company, valued at $195,978. The disclosure for this sale can be found here. Insiders have sold 8,780 shares of company stock worth $1,893,878 over the last 90 days. 0.73% of the stock is currently owned by corporate insiders.
SIVB has been the topic of a number of analyst reports. Jefferies Group reaffirmed a “buy” rating and issued a $216.00 price target on shares of SVB Financial Group in a research note on Friday, August 11th. ValuEngine raised SVB Financial Group from a “hold” rating to a “buy” rating in a research note on Thursday, August 17th. Zacks Investment Research cut SVB Financial Group from a “hold” rating to a “sell” rating in a research note on Tuesday, October 3rd. Morgan Stanley reissued an “overweight” rating and set a $213.00 target price (up from $210.00) on shares of SVB Financial Group in a research note on Wednesday, October 4th. Finally, Maxim Group reissued a “buy” rating and set a $250.00 target price (up from $220.00) on shares of SVB Financial Group in a research note on Monday, October 30th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. SVB Financial Group currently has a consensus rating of “Buy” and a consensus price target of $216.21.
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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