Van Strum & Towne Inc. Cuts Stake in SVB Financial Group (SIVB)
Van Strum & Towne Inc. lowered its position in SVB Financial Group (NASDAQ:SIVB) by 1.0% during the second quarter, Holdings Channel reports. The firm owned 20,847 shares of the bank’s stock after selling 220 shares during the period. SVB Financial Group accounts for approximately 2.4% of Van Strum & Towne Inc.’s holdings, making the stock its 18th largest position. Van Strum & Towne Inc.’s holdings in SVB Financial Group were worth $3,665,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in the company. Rhumbline Advisers raised its stake in SVB Financial Group by 0.3% in the second quarter. Rhumbline Advisers now owns 104,516 shares of the bank’s stock worth $18,373,000 after buying an additional 326 shares during the period. DekaBank Deutsche Girozentrale acquired a new stake in SVB Financial Group during the second quarter worth about $839,000. First Trust Advisors LP raised its stake in SVB Financial Group by 33.7% in the second quarter. First Trust Advisors LP now owns 202,778 shares of the bank’s stock worth $35,646,000 after buying an additional 51,119 shares during the period. Arizona State Retirement System raised its stake in SVB Financial Group by 1.4% in the second quarter. Arizona State Retirement System now owns 22,100 shares of the bank’s stock worth $3,885,000 after buying an additional 300 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in SVB Financial Group by 979.4% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 6,800 shares of the bank’s stock worth $1,195,000 after buying an additional 6,170 shares during the period. Institutional investors own 95.12% of the company’s stock.
Shares of SVB Financial Group (NASDAQ SIVB) opened at 172.03 on Friday. The firm has a market capitalization of $9.06 billion, a price-to-earnings ratio of 20.91 and a beta of 1.59. The stock has a 50 day moving average of $179.24 and a 200-day moving average of $181.13. SVB Financial Group has a one year low of $103.05 and a one year high of $198.83.
SVB Financial Group (NASDAQ:SIVB) last announced its earnings results on Thursday, July 27th. The bank reported $2.32 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.27. The business had revenue of $471.70 million during the quarter, compared to the consensus estimate of $451.96 million. SVB Financial Group had a net margin of 24.36% and a return on equity of 11.27%. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.78 earnings per share. On average, equities analysts anticipate that SVB Financial Group will post $8.98 earnings per share for the current fiscal year.
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A number of equities research analysts have issued reports on the stock. Jefferies Group LLC reiterated a “buy” rating and set a $216.00 target price on shares of SVB Financial Group in a report on Friday. Maxim Group increased their target price on shares of SVB Financial Group from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Monday, July 31st. BidaskClub lowered shares of SVB Financial Group from a “buy” rating to a “hold” rating in a report on Sunday, July 30th. Stephens reiterated a “buy” rating and set a $205.00 target price on shares of SVB Financial Group in a report on Friday, July 28th. Finally, Piper Jaffray Companies restated a “buy” rating and issued a $212.00 price objective on shares of SVB Financial Group in a report on Friday, July 14th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. SVB Financial Group currently has a consensus rating of “Buy” and a consensus price target of $202.75.
In related news, insider Philip C. Cox sold 3,024 shares of the company’s stock in a transaction on Tuesday, August 1st. The shares were 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 of the company’s stock, valued at $525,001.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael Descheneaux sold 3,500 shares of the company’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $182.07, for a total transaction of $637,245.00. Following the completion of the sale, the insider now directly owns 14,064 shares in the company, valued at $2,560,632.48. The disclosure for this sale can be found here. Insiders sold 22,314 shares of company stock valued at $4,085,570 over the last 90 days. Insiders own 0.73% of the company’s stock.
SVB Financial Group Company 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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