First Trust Advisors LP trimmed its stake in SVB Financial Group (NASDAQ:SIVB) by 24.8% during the 1st quarter, HoldingsChannel reports. The fund owned 67,681 shares of the bank’s stock after selling 22,317 shares during the quarter. First Trust Advisors LP’s holdings in SVB Financial Group were worth $10,225,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in SIVB. Parkside Financial Bank & Trust boosted its holdings in SVB Financial Group by 101.8% in the fourth quarter. Parkside Financial Bank & Trust now owns 113 shares of the bank’s stock worth $28,000 after acquiring an additional 57 shares in the last quarter. Lindbrook Capital LLC lifted its holdings in shares of SVB Financial Group by 77.4% during the first quarter. Lindbrook Capital LLC now owns 204 shares of the bank’s stock valued at $31,000 after purchasing an additional 89 shares in the last quarter. Meeder Asset Management Inc. lifted its holdings in shares of SVB Financial Group by 104.5% during the fourth quarter. Meeder Asset Management Inc. now owns 135 shares of the bank’s stock valued at $34,000 after purchasing an additional 69 shares in the last quarter. CFM Wealth Partners LLC bought a new position in shares of SVB Financial Group during the fourth quarter valued at $36,000. Finally, TCI Wealth Advisors Inc. bought a new position in shares of SVB Financial Group during the fourth quarter valued at $40,000. 91.97% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have recently issued reports on the company. Wells Fargo & Co upped their price target on SVB Financial Group from $125.00 to $140.00 and gave the company an “underweight” rating in a report on Friday, April 24th. ValuEngine raised SVB Financial Group from a “sell” rating to a “hold” rating in a report on Thursday, March 12th. SunTrust Banks upped their price target on SVB Financial Group from $210.00 to $220.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. UBS Group upped their price target on SVB Financial Group from $154.00 to $164.00 and gave the company a “neutral” rating in a report on Friday, May 15th. Finally, Morgan Stanley increased their target price on SVB Financial Group from $215.00 to $235.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the company. SVB Financial Group currently has a consensus rating of “Hold” and an average target price of $222.60.
SVB Financial Group (NASDAQ:SIVB) last issued its quarterly earnings results on Thursday, April 23rd. The bank reported $2.55 EPS for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.52). The company had revenue of $826.07 million during the quarter, compared to analysts’ expectations of $770.92 million. SVB Financial Group had a return on equity of 15.82% and a net margin of 27.57%. During the same quarter in the previous year, the company earned $5.44 EPS. On average, equities analysts anticipate that SVB Financial Group will post 12.18 earnings per share for the current fiscal year.
In related news, insider Marc C. Cadieux sold 2,503 shares of the stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $184.37, for a total transaction of $461,478.11. Following the completion of the sale, the insider now owns 18,355 shares in the company, valued at $3,384,111.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Michelle Draper sold 213 shares of the stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $209.56, for a total value of $44,636.28. Following the sale, the chief marketing officer now owns 5,029 shares of the company’s stock, valued at approximately $1,053,877.24. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,192 shares of company stock valued at $775,430. Company insiders own 0.78% of the company’s stock.
SVB Financial Group Profile
SVB Financial Group, a diversified financial services company, provides various banking and financial products and services. The company operates through three segments: Global Commercial Bank, SVB Private Bank, and SVB Capital. The 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 and credit cards, account analysis, and disbursement, as well as online and mobile banking services.
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