Pillar Pacific Capital Management LLC raised its stake in shares of SVB Financial Group (NASDAQ:SIVB) by 110.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,835 shares of the bank’s stock after buying an additional 11,455 shares during the period. Pillar Pacific Capital Management LLC’s holdings in SVB Financial Group were worth $3,838,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of SIVB. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. acquired a new position in SVB Financial Group during the first quarter valued at approximately $117,000. Exane Derivatives purchased a new position in shares of SVB Financial Group during the second quarter worth about $119,000. Whittier Trust Co. of Nevada Inc. increased its position in shares of SVB Financial Group by 79.6% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 774 shares of the bank’s stock worth $136,000 after buying an additional 343 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its position in shares of SVB Financial Group by 11.7% in the first quarter. Nomura Asset Management Co. Ltd. now owns 860 shares of the bank’s stock worth $160,000 after buying an additional 90 shares in the last quarter. Finally, State of Alaska Department of Revenue purchased a new position in shares of SVB Financial Group during the first quarter worth about $171,000. 95.12% of the stock is owned by institutional investors and hedge funds.
Shares of SVB Financial Group (NASDAQ SIVB) traded down 0.46% during mid-day trading on Friday, hitting $172.03. 513,125 shares of the stock traded hands. The stock has a market cap of $9.06 billion, a PE 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 released its earnings results on Thursday, July 27th. The bank reported $2.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.05 by $0.27. The company had revenue of $471.70 million during the quarter, compared to analysts’ expectations of $451.96 million. SVB Financial Group had a return on equity of 11.27% and a net margin of 24.36%. The business’s revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.78 EPS. Equities analysts predict that SVB Financial Group will post $8.98 EPS for the current fiscal year.
A number of research analysts recently issued reports on the stock. 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 Friday. Maxim Group lifted their price target on shares of SVB Financial Group from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Monday, July 31st. BidaskClub downgraded shares of SVB Financial Group from a “buy” rating to a “hold” rating in a research note on Sunday, July 30th. Stephens reiterated a “buy” rating and issued a $205.00 price target on shares of SVB Financial Group in a research note on Friday, July 28th. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $212.00 price target on shares of SVB Financial Group in a research note on Friday, July 14th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $202.75.
In related news, CFO Michael Descheneaux sold 7,000 shares of the firm’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $184.38, for a total transaction of $1,290,660.00. Following the transaction, the chief financial officer now directly owns 18,419 shares in the company, valued at $3,396,095.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bruce Wallace sold 8,790 shares of the firm’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $182.58, for a total value of $1,604,878.20. Following the transaction, the insider now owns 14,248 shares in the company, valued at $2,601,399.84. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,314 shares of company stock valued at $4,085,570. Company insiders own 0.73% 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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