Cooke & Bieler LP trimmed its stake in SVB Financial Group (NASDAQ:SIVB) by 68.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,320 shares of the bank’s stock after selling 26,403 shares during the quarter. Cooke & Bieler LP’s holdings in SVB Financial Group were worth $2,880,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Toronto Dominion Bank raised its holdings in shares of SVB Financial Group by 525.6% in the second quarter. Toronto Dominion Bank now owns 782 shares of the bank’s stock worth $137,000 after acquiring an additional 657 shares during the last quarter. Green Square Capital LLC acquired a new position in shares of SVB Financial Group in the third quarter worth $206,000. Lourd Capital LLC acquired a new position in shares of SVB Financial Group in the fourth quarter worth $207,000. Wade G W & Inc. acquired a new position in shares of SVB Financial Group in the third quarter worth $222,000. Finally, Welch & Forbes LLC acquired a new position in shares of SVB Financial Group in the fourth quarter worth $222,000. 90.11% of the stock is owned by institutional investors.
A number of equities analysts have recently weighed in on SIVB shares. Wells Fargo & Co reissued an “outperform” rating and issued a $280.00 price target (up from $240.00) on shares of SVB Financial Group in a report on Tuesday, January 9th. Zacks Investment Research upgraded SVB Financial Group from a “hold” rating to a “buy” rating and set a $271.00 target price for the company in a research note on Wednesday, December 27th. SunTrust Banks reiterated a “buy” rating and issued a $245.00 target price on shares of SVB Financial Group in a research note on Friday, November 17th. ValuEngine lowered SVB Financial Group from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Finally, Barclays upped their target price on SVB Financial Group from $217.00 to $251.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 2nd. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $239.92.
In related news, insider Christopher Edmonds-Waters sold 3,630 shares of the stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $209.86, for a total value of $761,791.80. Following the completion of the transaction, the insider now owns 5,918 shares of the company’s stock, valued at $1,241,951.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Philip C. Cox sold 1,175 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $252.77, for a total value of $297,004.75. Following the completion of the transaction, the insider now directly owns 4,097 shares of the company’s stock, valued at approximately $1,035,598.69. The disclosure for this sale can be found here. Insiders sold 20,816 shares of company stock valued at $4,819,541 in the last ninety days. Company insiders own 0.73% of the company’s stock.
Shares of SVB Financial Group (NASDAQ:SIVB) opened at $238.65 on Monday. SVB Financial Group has a 1 year low of $159.44 and a 1 year high of $263.09. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $12,609.12, a PE ratio of 24.08, a PEG ratio of 1.57 and a beta of 1.49.
SVB Financial Group (NASDAQ:SIVB) last issued its earnings results on Thursday, January 25th. The bank reported $2.19 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.60 by ($0.41). SVB Financial Group had a return on equity of 12.83% and a net margin of 24.25%. The company had revenue of $545.97 million during the quarter, compared to analysts’ expectations of $523.45 million. During the same period in the previous year, the company earned $1.89 EPS. research analysts expect that SVB Financial Group will post 13.85 EPS for the current fiscal year.
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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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