AE Wealth Management LLC grew its position in SVB Financial Group (NASDAQ:SIVB – Get Rating) by 48.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,477 shares of the bank’s stock after buying an additional 481 shares during the quarter. AE Wealth Management LLC’s holdings in SVB Financial Group were worth $583,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Dupont Capital Management Corp acquired a new position in shares of SVB Financial Group in the 2nd quarter valued at approximately $122,000. National Asset Management Inc. increased its position in SVB Financial Group by 44.6% during the 1st quarter. National Asset Management Inc. now owns 1,533 shares of the bank’s stock worth $858,000 after purchasing an additional 473 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its position in SVB Financial Group by 18.8% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 4,170 shares of the bank’s stock worth $2,333,000 after purchasing an additional 661 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in SVB Financial Group by 5.4% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 37,678 shares of the bank’s stock worth $21,079,000 after purchasing an additional 1,919 shares in the last quarter. Finally, Western Wealth Management LLC increased its position in SVB Financial Group by 64.9% during the 1st quarter. Western Wealth Management LLC now owns 1,123 shares of the bank’s stock worth $629,000 after purchasing an additional 442 shares in the last quarter. 91.48% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of equities analysts recently issued reports on the stock. Janney Montgomery Scott cut shares of SVB Financial Group from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $280.00 to $500.00 in a research report on Friday, October 21st. Stephens lowered their price objective on shares of SVB Financial Group from $540.00 to $480.00 in a research report on Friday, July 22nd. Royal Bank of Canada lowered their price objective on shares of SVB Financial Group from $474.00 to $350.00 and set an “outperform” rating for the company in a research report on Friday, October 21st. UBS Group reduced their target price on shares of SVB Financial Group from $625.00 to $430.00 and set a “neutral” rating on the stock in a report on Wednesday, July 27th. Finally, Raymond James reduced their target price on shares of SVB Financial Group from $480.00 to $345.00 and set an “outperform” rating on the stock in a report on Friday, October 21st. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $419.79.
SVB Financial Group Stock Up 2.7 %
Shares of NASDAQ SIVB opened at $213.20 on Friday. The firm has a market cap of $12.60 billion, a PE ratio of 7.91, a P/E/G ratio of 1.07 and a beta of 1.52. SVB Financial Group has a 12-month low of $206.35 and a 12-month high of $763.22. The company’s fifty day simple moving average is $336.98 and its 200 day simple moving average is $406.28. The company has a quick ratio of 0.46, a current ratio of 0.47 and a debt-to-equity ratio of 0.28.
SVB Financial Group (NASDAQ:SIVB – Get Rating) last issued its earnings results on Thursday, October 20th. The bank reported $7.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.95 by $0.26. The business had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.64 billion. SVB Financial Group had a net margin of 25.57% and a return on equity of 13.72%. SVB Financial Group’s revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the firm earned $7.26 earnings per share. As a group, sell-side analysts forecast that SVB Financial Group will post 26.43 earnings per share for the current fiscal year.
SVB Financial Group Company Profile
SVB Financial Group, a diversified financial services company, offers various banking and financial products and services. It operates through four segments: Global Commercial Bank, SVB Private Bank, SVB Capital, and SVB Securities. The Global Commercial Bank segment provides commercial banking products and services, including credit, treasury management, foreign exchange, trade finance, and other financial products and services.
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