SVB Financial Group (SIVB) Shares Bought by Sumitomo Mitsui Asset Management Company LTD
Sumitomo Mitsui Asset Management Company LTD grew its holdings in shares of SVB Financial Group (NASDAQ:SIVB) by 88.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,961 shares of the bank’s stock after buying an additional 3,264 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in SVB Financial Group were worth $2,163,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of the company. KAMES CAPITAL plc increased its stake in shares of SVB Financial Group by 1.0% during the third quarter. KAMES CAPITAL plc now owns 234,147 shares of the bank’s stock valued at $72,768,000 after buying an additional 2,259 shares during the period. DNB Asset Management AS purchased a new position in shares of SVB Financial Group during the third quarter valued at approximately $8,385,000. Lourd Capital LLC purchased a new position in shares of SVB Financial Group during the third quarter valued at approximately $275,000. Nelson Roberts Investment Advisors LLC increased its stake in shares of SVB Financial Group by 0.7% during the third quarter. Nelson Roberts Investment Advisors LLC now owns 24,518 shares of the bank’s stock valued at $7,621,000 after buying an additional 171 shares during the period. Finally, EFG Asset Management Americas Corp. increased its stake in shares of SVB Financial Group by 14.1% during the third quarter. EFG Asset Management Americas Corp. now owns 28,771 shares of the bank’s stock valued at $8,943,000 after buying an additional 3,548 shares during the period. 88.49% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Gregory W. Becker sold 7,000 shares of the stock in a transaction on Monday, August 6th. The stock was sold at an average price of $325.40, for a total value of $2,277,800.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John F. Robinson sold 500 shares of the stock in a transaction on Monday, September 10th. The stock was sold at an average price of $324.07, for a total value of $162,035.00. Following the completion of the sale, the director now directly owns 5,017 shares in the company, valued at $1,625,859.19. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,372 shares of company stock worth $6,442,641. 0.74% of the stock is owned by insiders.
Shares of SIVB stock opened at $281.84 on Friday. The firm has a market capitalization of $15.80 billion, a P/E ratio of 28.44, a PEG ratio of 1.58 and a beta of 1.48. SVB Financial Group has a twelve month low of $185.41 and a twelve month high of $333.74. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.60 and a current ratio of 0.60.
SVB Financial Group (NASDAQ:SIVB) last issued its quarterly earnings results on Thursday, July 26th. The bank reported $4.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.86 by $0.56. The company had revenue of $659.10 million for the quarter, compared to analysts’ expectations of $612.75 million. SVB Financial Group had a return on equity of 16.47% and a net margin of 29.56%. The firm’s revenue for the quarter was up 39.9% on a year-over-year basis. During the same period in the prior year, the firm earned $2.32 earnings per share. As a group, equities analysts anticipate that SVB Financial Group will post 17.14 earnings per share for the current fiscal year.
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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