Norges Bank Takes $197.75 Million Position in SVB Financial Group (NASDAQ:SIVB)

Norges Bank bought a new stake in SVB Financial Group (NASDAQ:SIVB) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 509,898 shares of the bank’s stock, valued at approximately $197,754,000. Norges Bank owned 0.98% of SVB Financial Group as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SIVB. BlackRock Inc. grew its stake in shares of SVB Financial Group by 5.9% during the fourth quarter. BlackRock Inc. now owns 4,252,565 shares of the bank’s stock worth $1,649,273,000 after purchasing an additional 237,736 shares during the period. Alliancebernstein L.P. grew its stake in shares of SVB Financial Group by 130.4% in the 4th quarter. Alliancebernstein L.P. now owns 752,944 shares of the bank’s stock valued at $292,014,000 after buying an additional 426,124 shares during the period. Janus Henderson Group PLC grew its stake in shares of SVB Financial Group by 0.4% in the 4th quarter. Janus Henderson Group PLC now owns 693,552 shares of the bank’s stock valued at $268,978,000 after buying an additional 2,439 shares during the period. Victory Capital Management Inc. raised its holdings in shares of SVB Financial Group by 2.1% in the 4th quarter. Victory Capital Management Inc. now owns 498,556 shares of the bank’s stock worth $193,355,000 after purchasing an additional 10,321 shares during the period. Finally, Lord Abbett & CO. LLC raised its holdings in shares of SVB Financial Group by 147.6% in the 4th quarter. Lord Abbett & CO. LLC now owns 472,236 shares of the bank’s stock worth $183,148,000 after purchasing an additional 281,480 shares during the period. 88.38% of the stock is owned by institutional investors.

A number of research firms recently commented on SIVB. Barclays lifted their price target on shares of SVB Financial Group from $470.00 to $550.00 and gave the stock an “equal weight” rating in a report on Wednesday. Zacks Investment Research lowered shares of SVB Financial Group from a “strong-buy” rating to a “hold” rating and set a $547.00 price objective for the company. in a research note on Tuesday, March 23rd. Raymond James lifted their price objective on shares of SVB Financial Group from $510.00 to $564.00 and gave the company an “outperform” rating in a research note on Tuesday, March 30th. Bank of America boosted their price target on shares of SVB Financial Group from $465.00 to $550.00 and gave the company a “buy” rating in a research report on Friday, January 22nd. Finally, Royal Bank of Canada boosted their price target on shares of SVB Financial Group from $494.00 to $508.00 and gave the company an “outperform” rating in a research report on Friday, January 22nd. Eight research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. SVB Financial Group currently has a consensus rating of “Buy” and an average target price of $441.56.

In other news, CFO Daniel J. Beck sold 1,489 shares of the stock in a transaction dated Monday, February 1st. The shares were sold at an average price of $444.66, for a total transaction of $662,098.74. Following the sale, the chief financial officer now owns 4,539 shares of the company’s stock, valued at $2,018,311.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Gregory W. Becker sold 12,000 shares of the stock in a transaction dated Wednesday, January 27th. The stock was sold at an average price of $462.85, for a total transaction of $5,554,200.00. The disclosure for this sale can be found here. Insiders have sold 46,580 shares of company stock worth $22,350,987 in the last three months. Corporate insiders own 0.78% of the company’s stock.

Shares of SIVB stock opened at $484.59 on Thursday. The firm has a market cap of $25.19 billion, a PE ratio of 23.64, a price-to-earnings-growth ratio of 3.23 and a beta of 2.14. SVB Financial Group has a 1-year low of $152.76 and a 1-year high of $577.06. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.66 and a quick ratio of 0.66. The company has a 50-day moving average of $516.62 and a two-hundred day moving average of $398.90.

SVB Financial Group (NASDAQ:SIVB) last issued its quarterly earnings results on Wednesday, January 20th. The bank reported $7.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.75 by $3.65. The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $863.40 million. SVB Financial Group had a net margin of 28.60% and a return on equity of 15.40%. Sell-side analysts anticipate that SVB Financial Group will post 19.21 EPS for the current fiscal year.

SVB Financial Group Company Profile

SVB Financial Group, a diversified financial services company, provides various banking and financial products and services. The company operates through four segments: Global Commercial Bank, SVB Private Bank, SVB Capital, and SVB Leerink. 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 solutions comprising term loans, equipment and asset-based loans, revolving lines of credit, and credit card programs, as well as mezzanine lending, acquisition finance, and corporate working capital facilities; 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.

Recommended Story: Why do company’s buyback their stock?

Want to see what other hedge funds are holding SIVB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SVB Financial Group (NASDAQ:SIVB).

Institutional Ownership by Quarter for SVB Financial Group (NASDAQ:SIVB)

Receive News & Ratings for SVB Financial Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SVB Financial Group and related companies with MarketBeat.com's FREE daily email newsletter.