Driehaus Capital Management LLC raised its stake in shares of SVB Financial Group (NASDAQ:SIVB) by 133.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,174 shares of the bank’s stock after purchasing an additional 4,674 shares during the period. Driehaus Capital Management LLC’s holdings in SVB Financial Group were worth $1,911,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of the stock. BlackRock Inc. increased its position in SVB Financial Group by 3.0% during the fourth quarter. BlackRock Inc. now owns 5,104,914 shares of the bank’s stock worth $1,193,377,000 after purchasing an additional 146,741 shares during the last quarter. Harding Loevner LP increased its position in shares of SVB Financial Group by 209.0% in the third quarter. Harding Loevner LP now owns 4,817,712 shares of the bank’s stock worth $284,617,000 after acquiring an additional 3,258,700 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of SVB Financial Group by 16.6% in the third quarter. JPMorgan Chase & Co. now owns 2,489,781 shares of the bank’s stock worth $464,570,000 after acquiring an additional 354,948 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of SVB Financial Group by 29.1% in the third quarter. Bank of New York Mellon Corp now owns 1,618,179 shares of the bank’s stock worth $302,746,000 after acquiring an additional 364,303 shares in the last quarter. Finally, Janus Henderson Group PLC increased its position in shares of SVB Financial Group by 0.8% in the third quarter. Janus Henderson Group PLC now owns 995,702 shares of the bank’s stock worth $186,286,000 after acquiring an additional 7,440 shares in the last quarter. 89.70% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have recently issued reports on the stock. Maxim Group reissued a “buy” rating and issued a $300.00 price objective (up previously from $250.00) on shares of SVB Financial Group in a research report on Wednesday, January 10th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $308.00 price objective on shares of SVB Financial Group in a research report on Tuesday, February 27th. Jefferies Group reissued a “buy” rating on shares of SVB Financial Group in a research report on Friday, January 26th. BidaskClub raised shares of SVB Financial Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, March 6th. Finally, Barclays reissued a “hold” rating and issued a $273.00 price objective on shares of SVB Financial Group in a research report on Sunday, January 28th. Five equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $248.62.
SVB Financial Group (NASDAQ:SIVB) last announced its earnings results on Thursday, January 25th. The bank reported $2.19 earnings per share for the quarter, missing the consensus estimate of $2.60 by ($0.41). The firm had revenue of $545.97 million during the quarter, compared to analysts’ expectations of $523.45 million. SVB Financial Group had a net margin of 24.25% and a return on equity of 12.83%. During the same quarter last year, the company posted $1.89 earnings per share. analysts anticipate that SVB Financial Group will post 13.86 EPS for the current fiscal year.
In other news, insider Gregory W. Becker sold 4,500 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $243.49, for a total value of $1,095,705.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Philip C. Cox sold 1,175 shares of the company’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $252.77, for a total transaction of $297,004.75. Following the completion of the transaction, the insider now owns 4,097 shares of the company’s stock, valued at $1,035,598.69. The disclosure for this sale can be found here. Insiders sold 8,185 shares of company stock valued at $2,017,574 over the last 90 days. Insiders own 0.74% of the company’s stock.
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About SVB Financial Group
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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