Signaturefd LLC Has $145,000 Stake in SVB Financial Group (SIVB)
Signaturefd LLC increased its position in SVB Financial Group (NASDAQ:SIVB) by 341.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 503 shares of the bank’s stock after acquiring an additional 389 shares during the quarter. Signaturefd LLC’s holdings in SVB Financial Group were worth $145,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. British Airways Pensions Investment Management Ltd boosted its position in shares of SVB Financial Group by 0.8% in the second quarter. British Airways Pensions Investment Management Ltd now owns 33,122 shares of the bank’s stock valued at $9,564,000 after acquiring an additional 271 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in SVB Financial Group in the second quarter valued at approximately $2,346,000. Advisors Preferred LLC purchased a new stake in SVB Financial Group in the second quarter valued at approximately $167,000. Aviva PLC raised its stake in SVB Financial Group by 5.2% in the second quarter. Aviva PLC now owns 91,715 shares of the bank’s stock valued at $26,484,000 after purchasing an additional 4,508 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its stake in SVB Financial Group by 458.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,129 shares of the bank’s stock valued at $326,000 after purchasing an additional 927 shares in the last quarter. Institutional investors own 88.87% of the company’s stock.
A number of brokerages recently weighed in on SIVB. Royal Bank of Canada reaffirmed a “buy” rating and issued a $355.00 target price on shares of SVB Financial Group in a research note on Friday, July 27th. Zacks Investment Research downgraded shares of SVB Financial Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 31st. BidaskClub downgraded shares of SVB Financial Group from a “buy” rating to a “hold” rating in a research note on Tuesday, June 26th. SunTrust Banks raised their target price on shares of SVB Financial Group to $350.00 and gave the company a “buy” rating in a research note on Monday, July 30th. Finally, Wedbush raised their target price on shares of SVB Financial Group from $325.00 to $350.00 and gave the company a “neutral” rating in a research note on Friday, July 27th. Four research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $354.06.
SIVB stock opened at $319.29 on Friday. The company has a market cap of $16.89 billion, a price-to-earnings ratio of 23.12, a price-to-earnings-growth ratio of 1.67 and a beta of 1.47. SVB Financial Group has a one year low of $167.99 and a one year high of $333.74. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.14.
SVB Financial Group (NASDAQ:SIVB) last posted its quarterly earnings results on Thursday, July 26th. The bank reported $4.42 EPS for the quarter, topping the consensus estimate of $3.86 by $0.56. The firm had revenue of $659.10 million for the quarter, compared to the consensus estimate of $612.75 million. SVB Financial Group had a net margin of 29.56% and a return on equity of 16.47%. The business’s revenue was up 39.9% compared to the same quarter last year. During the same period last year, the firm posted $2.32 earnings per share. analysts anticipate that SVB Financial Group will post 17.29 EPS for the current year.
SVB Financial Group Company 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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