Columbus Circle Investors purchased a new stake in shares of SVB Financial Group (NASDAQ:SIVB) during the first quarter, according to its most recent 13F filing with the SEC. The firm purchased 278,577 shares of the bank’s stock, valued at approximately $51,840,000.
Other large investors have also modified their holdings of the company. The Manufacturers Life Insurance Company acquired a new stake in shares of SVB Financial Group during the third quarter valued at about $76,418,000. Janus Capital Management LLC raised its stake in shares of SVB Financial Group by 174.8% in the fourth quarter. Janus Capital Management LLC now owns 845,827 shares of the bank’s stock valued at $145,194,000 after buying an additional 538,044 shares during the last quarter. FMR LLC raised its stake in shares of SVB Financial Group by 193.3% in the fourth quarter. FMR LLC now owns 766,129 shares of the bank’s stock valued at $131,514,000 after buying an additional 504,929 shares during the last quarter. Norges Bank acquired a new stake in shares of SVB Financial Group during the fourth quarter valued at about $67,877,000. Finally, Alyeska Investment Group L.P. acquired a new stake in shares of SVB Financial Group during the fourth quarter valued at about $48,475,000. Hedge funds and other institutional investors own 91.77% of the company’s stock.
Shares of SVB Financial Group (NASDAQ:SIVB) traded up 2.562% on Thursday, hitting $183.525. 250,470 shares of the stock were exchanged. SVB Financial Group has a 1-year low of $82.90 and a 1-year high of $198.83. The stock has a market cap of $9.60 billion, a price-to-earnings ratio of 25.106 and a beta of 1.47. The stock’s 50-day moving average is $185.61 and its 200-day moving average is $164.00.
SVB Financial Group (NASDAQ:SIVB) last announced its earnings results on Thursday, January 26th. The bank reported $1.89 EPS for the quarter, beating the Zacks’ consensus estimate of $1.79 by $0.10. SVB Financial Group had a net margin of 23.19% and a return on equity of 10.45%. The firm had revenue of $410.11 million for the quarter, compared to analysts’ expectations of $413.15 million. During the same quarter in the previous year, the business posted $1.68 EPS. Analysts forecast that SVB Financial Group will post $8.55 earnings per share for the current year.
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Several equities research analysts have issued reports on SIVB shares. Zacks Investment Research upgraded shares of SVB Financial Group from a “hold” rating to a “buy” rating and set a $199.00 price target on the stock in a research note on Monday, January 9th. JMP Securities lifted their price target on shares of SVB Financial Group from $195.00 to $200.00 in a research note on Friday, January 27th. Keefe, Bruyette & Woods set a $191.00 price target on shares of SVB Financial Group and gave the company a “buy” rating in a research note on Monday, April 3rd. Jefferies Group LLC reiterated a “buy” rating and issued a $216.00 price target on shares of SVB Financial Group in a research note on Tuesday, April 4th. Finally, Piper Jaffray Companies reiterated an “overweight” rating and issued a $214.00 price target (up from $202.00) on shares of SVB Financial Group in a research note on Friday, April 14th. Three equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. SVB Financial Group currently has an average rating of “Buy” and a consensus price target of $171.17.
In other news, insider Philip C. Cox sold 7,001 shares of the business’s stock in a transaction on Wednesday, February 1st. The shares were sold at an average price of $172.52, for a total transaction of $1,207,812.52. Following the sale, the insider now owns 5,381 shares in the company, valued at approximately $928,330.12. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Roger F. Dunbar sold 580 shares of the business’s stock in a transaction on Monday, February 13th. The shares were sold at an average price of $180.45, for a total transaction of $104,661.00. Following the sale, the director now owns 15,505 shares in the company, valued at approximately $2,797,877.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 31,442 shares of company stock worth $5,492,723. Company insiders own 0.78% of the company’s stock.
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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